News Recap: eBay Inc, Corning Incorporated, Zynga Inc
2013-03-21 10:26 ET - News Release
NEW YORK, March 21, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on eBay Inc, Corning Incorporated, Zynga Inc.eBay Inc(NASDAQ:EBAY) is tackling competition from Amazon.com Inc. head-on. It has said that it will revamp its fee structure for sellers on its online marketplace, lowering them for many sellers.
EBay plans to simplify its "final value fees" by charging percentage fee on each sale, determined by product categories. The percentage fee is currently based on product price.
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Some of the listing fees on the site will also go. Most of the changes will be introduced on April 16, and others on May 1.
EBay's move comes at a time when sellers are unhappy with the fee hikes on Amazon's website. For those who sell only a few items a year, eBay will offer 50 free listings a month and will take 10 percent of the sale price of a product.
EBay will introduce new final value fees for those who sell large volumes. These charges will range from 4 percent to 9 percent, depending on the product category.
EBay shares closed at $51.10 on the Nasdaq, up 2 percent. Amazon climbed down 0.6 percent to $256.41.
Meanwhile, Corning Incorporated(NYSE:GLW) has announced a new single-mode optical fiber innovation, Corning® SMF-28® Ultra fiber, the first to combine the benefits of industry-leading attenuation and improved macrobend performance in one fiber.
This is designed for high performance across the range of long-haul, metro, access, and fiber-to-the-home (FTTH) network applications, and is fully backward compatible with the installed base of legacy single-mode optical fibers.
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Barry Linchuck, division vice president and director, Worldwide Marketing, Corning Optical Fiber said:"SMF-28 Ultra fiber changes the game when it comes to choosing the right single-mode fiber for your network. Previously, network operators had to choose whether to improve the attenuation or macrobend performance but now they can have both. This unique combination is made possible through revolutionary process innovationsdeveloped by Corning that deliver lower attenuation and improved macrobend performance with no design trade-offs."
Corning had invented the first low-loss optical fiber more than 40 years ago.
Bank of America Merrill Lynch has downgraded Zynga Inc(NASDAQ:ZNGA) to “neutral”. Previously the bank issued a “buy” rating. It has attributed “less valuation upside” for the San Francisco-based company as the reason for the downgrade. The stock is up 47% year-to-date.
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The bank also said that the game maker’s shares, which have soared thanks to growing adoption of online poker, already reflect their long-term potential value.
BofA had upgraded Zynga on Feb. 5 just before its fourth-quarter results. Zynga shares dropped nearly 5% to$3.29 in morning trade. The stock has tumbled 75% from its all-time high.
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