28-01-2016 16:31 via news.yahoo.com

EBay shares sink as strong dollar, competition hit forecast

EBay Inc's shares plunged 13 percent on Thursday, after a disappointing holiday-quarter performance and a weak forecast suggested that overwhelming competition from Amazon.com Inc was gutting the one-time Wall Street favorite. EBay, which gets more than half its revenue from overseas, is also fighting the impact of a strong dollar, which has knocked the wind out of profits at several companies that have reported results this earnings season. The stock fell to $23.01 in early trading, knocking of
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