Please, Signup (Login) to subscribe or trade (demo)
Synchrony Financial stock price
Synchrony Financial latest news:
PayPal stock soars to intraday record after executives raise fourth-quarter guidance
PayPal Inc. stock hit a record intraday high of $77.94 Thursday, and closed up 5.8% after news that executives raised its fourth-quarter forecasts and that it would sell its $5.8 billion credit portfolio to Synchrony Financial . PayPal issued a fourth-quarter revenue forecast of earnings of between 52 cents and 59 cents a share on revenue of between $3.64 billion and $3.7 billion. Previously, executives had forecast earnings of between 37 cents and 39 cents a share on sales of $3.57 billion to $3.63 billion. PayPal was formerly a unit of eBay Inc. and executives spun the company out after investor pressure. It started trading as a separate entity in July 2015 at $34.69. PayPal stock is up 94% this year, with the S&P 500 index up 15%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.