When it comes to large acquisition deals, eBay (EBAY) has had a spotty history. Then again, the reason was usually that the transaction had only a tangential strategic connection (like Skype). But, when there were clear synergies, the results have been particularly strong. Just look at PayPal.

Well, it looks like eBay has learned this lesson. That is, the company's latest big deal is the $2.4 billion acquisition of GSI Commerce (GSIC).

Facebook primarily competes with Google (GOOG), Yahoo! (YHOO), Microsoft (MSFT) and Aol (AOL) in the display and search advertising markets. Here we highlight three major revenue streams that contribute to Facebook's value.

We currently peg Facebook's intrinsic value at $45.1 billion.

Would you buy a used Apple (AAPL) iPad? It seems that the market for used electronics is booming. Much of it is resold to developing countries. But even here in the U.S. consumers are dumping their old iPads and buying the new iPad2, the Financial Times reports.

That sets up a huge secondary market. The big beneficiaries are eBay (EBAY) and the Apple Store. On eBay, for example, sales jumped from 3,300 to 7,700 in a week with prices dropping from $531 to $484 in just one week. If buyers had done some research they could have bought the same unit from the Apple Store for $399, according to the FT.

eBay (EBAY), which competes with other e-commerce sites like Amazon.com (AMZN), Walmart (WMT), Overstock.com (OSTK), and Blue Nile (NILE), recently held an Investor Day in which the company discussed future growth areas and presented its business outlook through 2013. One notable highlight of the presentation was the company's expectation of rapid growth from its PayPal, Bill Me Later and StubHub businesses.

Here we examine eBay's growth areas in detail and the potential upside that it could add to our $32.81 stock price estimate, which stands slightly below market price.

We've oft heard the saying: "We must reinvent ourselves." This is the new mantra at eBay. According to chief executive John Donahoe: "Clearly, I hope you see that we are starting to play offense."

EBay (EBAY) has long been a dominant player in the e-commerce industry. Started in 1995, it has brought together buyers and sellers in an auction format. Now, 16 years later and highly successful, the company finds a new competitor in Amazon.com (AMZN), which is grabbing market share. In the meantime, eBay has acquired Paypal, as a wholly owned subsidiary. Paypal, an online payment service, helped to propel eBay's business transactions.

Analyst Upgrades

• Athenahealth (ATHN), Ensco (ESV), Pride International (PDE) and Sinclair Broadcast (SBGI) to outperform from market perform at Wells Fargo.
• CIRCOR (CIR) to buy from hold at BB&T.
• Urban Outfitters (URBN) to hold from sell at Citigroup.
• Shaw Group (SHAW) to buy from neutral at UBS.
• MGM Resorts (MGM) and Boyd Gaming (BYD) to buy from neutral, as well as Intrepid Potash (IPI) to neutral from underperform, at BofA/Merrill.
• Carlisle (CSL) to buy from neutral at SunTrust.

Shares of online retailer eBay Corp. (EBAY) traded sharply higher in after-hours trading following a stronger-than-expected fiscal fourth-quarter earnings report this afternoon.

The company reported earnings of 52 cents per share, beating the 47 cents that analysts had been expecting to see. During the same period last year the company had earnings of 44 cents.

"eBay (EBAY) -- a holding on our recommended buy list -- isn't a very popular stock on Wall Street," notes Geoffrey Seiler.

The editor of BullMarket.com explains, "Nevertheless, the name received some love in the past several days as two analysts came out with bullish takeaways on the stock.

"First, on January 7th, Evercore Partners initiated coverage of the stock with an 'overweight' rating and Street high target of $37.

Analyst Upgrades

• Polo Ralph Lauren (RL) to buy from hold at Citigroup.
• Qualcomm (QCOM) to buy from neutral at Roth Capital.
• Walgreen (WAG) to conviction buy from neutral at Goldman.
• Rockwell (ROK) to outperform from neutral at Credit Suisse.
• Carnival (CCL) to buy from hold at Deutsche Bank.
• SunTrust (STI) and TD Bank (TD) to outperform from market perform at Keefe Bruyette.
• Hawaiian Electric (HE) to outperform from neutral at RW Baird.
• Essex Property Trust (ESS) to outperform from neutral at Macquarie.
• Amgen (AMGN) to neutral from underperform at BofA/Merrill.

According to the Financial Times, the Chinese Ministry of Information and Industry Technology called for a crackdown "on illegal VoIP (voice over Internet protocol) telephone services" and is collecting evidence for legal cases against them.

China is a big player in most markets; however, when it comes to technology, powerful local companies hold sway. Last year Google (GOOG) fought a battle to keep its website in China. A couple of years ago, China set rules whereby all Internet content had to pass through censors before being approved.

Analyst Upgrades

• Thoratec (THOR) to buy from neutral at UBS.
• TW Telecom (TWTC) to buy from hold at Citigroup.
• TAL Education (XRS) to overweight from neutral at Piper Jaffray.
• Amedisys (AMED) to buy from hold at Deutsche Bank.

Analyst Downgrades

• Navigators (NAVG) to neutral from outperform at Macquarie.
• El Paso Electric (EE) to hold from buy at Jefferies.
• Hancock Holding (HBHC) to hold from buy at Wunderlich.
• California Water Service (CWT) and American States Water (AWR) to neutral from buy at Janney Capital.
• Mednax (MD) to hold from buy at Deutsche Bank.