Stock Research

eBay Hoists Internet ETFs on Skype Deal

By: ETF Trends

Posted on May 10, 2011 at 15:59 PM EDT

Internet sector exchange traded funds enjoyed a nearly 3% rally in eBay (NasdaqGS: EBAY) on Tuesday after an $8.5 billion deal for Skype, in which it has an ownership stake. Skype’s acquisition by Microsoft (NasdaqGS: MSFT) is “a positive for eBay in our view as it will help unlock about $2 a...

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