Ebay shares soar after Paypal spinoff announcement

Ebay shares soar after Paypal spinoff announcement   Stock markets universally applauded Ebay's decision to spin off popular online payment processing arm, Paypal, some time next year.They drove the share prices of the online auction site up by more than 7.5%; stocks fell slightly overnight but are still close to their 52-week high.A number of changes will happen in what amounts to a post-demerger of two almost-equals. Current CEO (and president) John Donahoe and his CFO, Bob Swan will oversee the separation and sit on both boards of the new Ebay and new PayPal. Read more >