eBay Inc. (NASDAQ:EBAY) shares slipped after Amazon.com Inc (NASDAQ:AMZN) CEO Jeff Bezos compared the two companies third-party sales growth in his annual letter to shareholders. “Third-party sales have grown from $0.1 billion to $160 billion — a compound annual growth rate of 52%,” Bezos wrote. “eBay’s gross merchandise sales in that period have grown at a compound rate of 20%, from $2.8 billion to $95 billion.” eBay CEO Devin Wenig fired back on Twitter, writing “We don’t compete with our sellers.”
Shares of the e-commerce icon receded 3.7% to close at $36.32.
Tesla Inc (NASDAQ:TSLA) stock fell on reports of a funding freeze at its Gigafactory venture with Panasonic Corporation (OTCMKTS:PCRFY). The electric-car maker said it would continue to invest in the Nevada EV battery production plant, according to Reuters. The two companies planned to expand capacity by 50% but financial issues led them to reconsider, Nikkei Asian Review reported in Japan.
Shares sputtered, ending the day down 2.8% at $268.42.
Lyft Inc (NASDAQ:LYFT) recovered some ground after dropping more than 10% on Wednesday. The ride-sharing company’s chief rival Uber Technologies (NYSE:UBER) just filed for its upcoming IPO and is reportedly seeking a valuation of between $90 billion and $100 billion. Lyft went public at $24 billion.
The stock climbed nearly 1.5% to $61.01.
Caesars Entertainment Corporation (NASDAQ:CZR) is expected to put itself up for sale as soon as this week, the New York Post reported Thursday. The owner of Harrah’s and Bailey’s hotels and casino plans to announce the move within days amid pressure from billionaire investor Carl Icahn. Icahn owns a 10% stake in the Las Vegas company, and has reportedly been pushing for a sale since February.
Investors were pleased to hear it, sending the share price up nearly 4% to $9.40.
Fastenal Company (NASDAQ:FAST) stock jumped after posting first quarter earnings that beat on earnings and met on revenue. The company brought in earnings of $0.68 per share on net sales of $1.31 billion, up from $0.61 EPS on $1.19 billion in sales the previous year. Analysts expected $0.67 EPS and revenue of $1.31 billion. Daily sales for the quarter increased 12% compared to a year ago.
Shares of the industrial supplies distributor rose 5.1% to $68.48.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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