EBay Inc., the world’s biggest online marketplace, said it would split off its payments arm PayPal, finally bowing to pressure from activist shareholder Carl Icahn after nine months.
U.S. stocks rose, as monthly flows into equity exchange-traded funds reached a five-year high, after housing data and earnings from companies including McDonald’s Corp. fueled speculation stimulus would continue.
Piper Jaffray raised its target price for Apple, joining Morgan Stanley and Canaccord Genuity Technology Analyst Michael Walkley in “The 700 Club,” analysts with price targets over $700.
