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.

Continue reading eBay Surges After Hours on Strong Earnings and Bullish Forecast

eBay Surges After Hours on Strong Earnings and Bullish Forecast originally appeared on BloggingStocks on Thu, 20 Jan 2011 09:00:00 EST. Please see our terms for use of feeds.

After a dismal 2009, there is hope for the art auction segment. There was reason for optimism at in the past quarter, as the major houses started to move impressive pieces again, and momentum continued through the beginning of this year. Now, we're getting ready to move into the busy months of May and June. Unlike last year, auctioneers, collectors and dealers seem to be ready to play.

May 2008 was essentially the last hurrah of an art market rally that had lasted several years and created incredible amounts of paper canvas and bronze wealth. It was at this point that Sotheby's (BID) sold a fairly late triptych by artist Francis Bacon for an incredible $86 million to Russian billionaire Roman Abramovich, a transaction that has become the poster child for the excesses of the art market.

Continue reading Sotheby's Betting on Matisse and Warhol

Sotheby's Betting on Matisse and Warhol originally appeared on BloggingStocks on Sun, 11 Apr 2010 13:40:00 EST. Please see our terms for use of feeds.

Famous auction entity Sotheby's (BID) posted its fourth-quarter numbers Monday. The market liked them. Late in the trading day, shares were up more than 7%, easily topping the 30-day average mark.

One reason investors were keen to give Sotheby's a bid is the absence of red ink. A year ago, the company lost 14 cents per share. During the last three months, $1.09 per share was booked. Total sales increased over 30%, which helped out, but net auction sales unfortunately saw a downturn of 7%.

Continue reading Sotheby's Trading Higher After Q4 Release

Sotheby's Trading Higher After Q4 Release originally appeared on BloggingStocks on Mon, 01 Mar 2010 17:20:00 EST. Please see our terms for use of feeds.

The art market spent a year and a half circling the drain. Signs of life at the end of 2009, however, have become a reality, with recent auctions at Sotheby's (BID) and Christie's (CRUPF) exceeding expectations and showing triple-digit growth from comparable auctions last year.

Overall, art prices last year were off around 50%, with the contemporary art sector suffering even more severe declines of up to 70%. With prices this low and a recovery taking shape, it's time for investors to get in, and it looks like we'll see an art rally this year.

Continue reading Five Reasons to Watch Art Stocks in 2010

Five Reasons to Watch Art Stocks in 2010 originally appeared on BloggingStocks on Sat, 13 Feb 2010 13:20:00 EST. Please see our terms for use of feeds.

Craig Newmark testified on Thursday that he regretted getting into bed with auction site eBay (EBAY) almost as soon as his head hit the pillow. The founder of Craigslist, the online classified site that has decimated large chunks of the newspaper industry, sold 28% of his company to eBay in August 2004. Within months, he recounted, eBay began to pull back on its promises, causing him to regret the decision.

During the negotiations more than five years ago, Meg Whitman, who was the CEO at the time, told Newmark that eBay would be happy to sit back as a minority shareholder for several years and use Craigslist as its exclusive venue for classified ads. Yet, shortly after the deal closed, eBay pushed for a bigger piece of the company and acquired an online classified company outside the United States. Both Whitman and company founder Pierre Omidyar testified that eBay was clear about its intentions.

The lawsuit, filed by eBay against Craigslist, involves the size of the former's minority stake in the privately held, relatively low-tech and highly popular classified site. eBay claims that Newmark diluted its share to 24% through a "self-dealing" scheme to issue more equity.

Craig Newmark: eBay wasn't worth it originally appeared on BloggingStocks on Thu, 10 Dec 2009 14:40:00 EST. Please see our terms for use of feeds.

What do you get for the person who has everything? Well, maybe you buy him a piece of history. The U.S. Marshals Service has done all the hard work, and now you can take advantage of it... maybe even at discount prices! Possessions seized from Ponzi schemer Bernie Madoff are set to go under the gavel in New York City on Saturday, so bring your checkbook and your appetite for luxury. The money will be used to compensate the victims of Madoff's crimes.

Continue reading Holiday shopping Madoff-style

Holiday shopping Madoff-style originally appeared on BloggingStocks on Tue, 10 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.

Continue reading UBS upgrades eBay to Buy

UBS upgrades eBay to Buy originally appeared on BloggingStocks on Tue, 15 Sep 2009 10:00:00 EST. Please see our terms for use of feeds.

Continue reading Looking for a penthouse? Madoff's is for sale.

Looking for a penthouse? Madoff's is for sale. originally appeared on BloggingStocks on Wed, 09 Sep 2009 15:50:00 EST. Please see our terms for use of feeds.

Continue reading And to think this particular Ferrari can be had for just $12.4 million

And to think this particular Ferrari can be had for just $12.4 million originally appeared on BloggingStocks on Mon, 18 May 2009 19:00:00 EST. Please see our terms for use of feeds.

Art prices could fall 40% in recession originally appeared on BloggingStocks on Wed, 21 Jan 2009 12:20:00 EST. Please see our terms for use of feeds.

Continue reading Not such a Merry Christmas at eBay (EBAY)

Not such a Merry Christmas at eBay (EBAY) originally appeared on BloggingStocks on Tue, 23 Dec 2008 14:40:00 EST. Please see our terms for use of feeds.

This post is part of our feature on Money Winners of 2008. See all 20.

Whatever you do, don't tell my mom about John Webber. He's an English guy who had hung onto a cup that his junk dealer grandfather bought in the 1930s. One day he took it out from under the bed and decided to get it examined. It turns out to be made of gold, about 1,700 years old, and decorated with the face of a Roman god. He got $100,000 at auction.

The reason I don't want you to tell my mom about this guy is that this is exactly the scenario she thinks will happen with every mug she has ever bought at a garage sale, each "collectible" she keeps stashed in cabinets and even the old eight-track player that she cannot be persuaded is worthless. It's stories like Webber's that keep houses full of junk.

Also, Webber is now in his 70s. I don't know what his family or financial situation is. I'm sure he could use $100,000. Who couldn't? But I'm also pretty sure that the money would've made a bigger difference in his life if he had examined the cup when he was saving for a house, sending a kid to school, or starting a business.

Be sure to check out more Money Winners of 2008.

Money winners of 2008: John Webber and the gold cup under the bed originally appeared on BloggingStocks on Tue, 16 Dec 2008 15:40:00 EST. Please see our terms for use of feeds.

The New York Times reports that eBay is considering making PayPal the only form of payment allowed on eBay auctions. The company is test marketing this concept in Australia starting next month, and loyal eBay buyers and sellers there are furious.

eBay's stranglehold on internet auction enthusiasts is already clear. It is the most popular auction site, and if you're a seller, you have few other choices that get you as much exposure. But that's not enough for eBay. In addition to all the fees generated from auction listings and sales, they apparently want to ensure that they'll get extra fees from the payments if they require everyone to pay with PayPal.

Company officials say this move is an effort to cut down on fraud. They say that by requiring the use of PayPal, they are able to see buyers and sellers through the payment process, rather than them risking fraud through the use of outside payment services.

Continue reading eBay going PayPal only?

eBay going PayPal only? originally appeared on BloggingStocks on Sun, 11 May 2008 10:10:00 EST. Please see our terms for use of feeds.

Continue reading What is eBay doing? Well, let me tell you...

What is eBay doing? Well, let me tell you... originally appeared on BloggingStocks on Wed, 20 Feb 2008 18:20:00 EST. Please see our terms for use of feeds.

Continue reading New eBay CEO John Donahoe looks to make a quick impression

New eBay CEO John Donahoe looks to make a quick impression originally appeared on BloggingStocks on Thu, 24 Jan 2008 15:36:00 EST. Please see our terms for use of feeds.

Continue reading Bear Stearns analyst is barking up the wrong tree

Bear Stearns analyst is barking up the wrong tree originally appeared on BloggingStocks on Fri, 18 Jan 2008 18:13:00 EST. Please see our terms for use of feeds.

Continue reading Liveblogging eBay Q2 earnings call

Liveblogging eBay Q2 earnings call originally appeared on BloggingStocks on Wed, 18 Jul 2007 17:00:00 EST. Please see our terms for use of feeds.

eBay Inc. (NASDAQ: EBAY) has finally admitted that Google Inc. (NASDAQ: GOOG) isn't its friend. This is long overdue.

For months, CEO Meg Whitman and other top eBay executives have used some convoluted logic to argue that Google Checkout doesn't compete with its PayPal service. Google executives also argued not-too-convincingly that there was enough room for both Google Checkout and PayPal in the marketplace.

While it's true that PayPal and Google Checkout aren't exactly alike, they do compete. Everyone knew it but the companies tried to maintain this false image that the Internet is one big politically correct summer camp where everybody is a partner and there are no winners and losers.

That analogy bit the dust Wednesday when Google scheduled an event in Boston to promote Checkout to coincide with a big eBay sellers' event. In response, eBay yanked its search advertising from Google. Remember that eBay has been one of the biggest buyers of search advertising on Google for years.

Continue reading eBay should have stood up to Google months ago

eBay should have stood up to Google months ago originally appeared on BloggingStocks on Fri, 15 Jun 2007 08:00:00 EST. Please see our terms for use of feeds.

At long last I can give eBay Inc. (NASDAQ: EBAY) a pat on the back about something. Most of you know that's pretty hard for me, but this time eBay has gone the extra mile to prove to me that it at least recognizes there are some nasty pirates and profiteers operating on its site. With the direction of New York Attorney General Andrew Cuomo's office, eBay assisted in putting the clampdown on an unscrupulous jewelry seller that was ripping off eBay customers by placing price inflating bids on its own merchandise.

EMH Group, the company in question, is said to have placed nearly a quarter million fraudulent bids on nearly $5 million worth of merchandise within the period of one year. Of course, EMH claims no wrong doing, but it has agreed to pay $400,000 in fines and will be "banned" from the online auction industry for four years. As for its victims, it is said that there will be a buyback incentive program "for certain items." I'll bet those certain items are all gold and EMH expects to purchase them back at the previous sale price. Yeah, ain't that just peachy.

Yes, I'll give eBay a pat on the back for exposing just how easy it has been to make millions of dollars of fraudulent business on its site. As far as Attorney General Cuomo's part in this, until he sends someone to prison for stealing from the public like this, in my opinion he's just blowing smoke in our eyes to the tune of $400,000. Without even checking, I'll give you 15 to 1 odds he's a Harvard man.

And so it goes.

A pat on the back for eBay originally appeared on BloggingStocks on Mon, 11 Jun 2007 15:40:00 EST. Please see our terms for use of feeds.

This week's rumor round-up: Is Packateer on the block? originally appeared on BloggingStocks on Fri, 01 Jun 2007 15:00:00 EST. Please see our terms for use of feeds.