EBay shares slammed after weak holiday forecast amid Skype drama


Investors battered shares of online auctioneer eBay (EBAY) Wednesday after the company reported that its third-quarter profit fell 29 percent and offered a disappointing holiday forecast. EBay's stock was trading more than five percent lower in after-the-close market activity. The company's results show that eBay has made strides in digging out of its recession fueled quagmire, but uncertainties hover around the company, most notably the circus surrounding Skype, which eBay is trying to sell to a consortium of private investors.

UBS internet analyst Brian Pitz called eBay's results "good," noting that revenue came in "above consensus and guidance," in a note to clients. EBay stock has soared 80 percent this year and hit a 52-week high earlier Wednesday.