PayPal收购告吹股价承压，Marvell财报超预期但指引不及预期

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The stock movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.

It is time [music] for John Tucker to shine with his stock movers here. Today's anything moving, John?

Uh there's actually a lot moving. Um remember this one where we were talking about this earlier this year? It was potentially one of the biggest leverage buyouts ever. Now it looks like uh they're going to have to go it alone. A consortium led by Stripe and the private equity firm Advent International abandoning plans to acquire PayPal. Uh PayPal really taking it on the chin this morning. Earlier this year, you'll remember they had teamed up, they came up with an acquisition offer of $60.50 uh cents a share.

That would have valued PayPal at more than $53 billion. Founded in what, the late 1990s? PayPal, it was an early mover in the digital payments. Uh it has since struggled with modernizing the payment technologies. You have Apple and Alphabet seizing a lot of the market share in that space. They ousted the former chief executive officer Alex Chriss earlier this year. Uh they replaced him with Enrique Lores who took over the role on March.

Now he has uh said he's going to set specific financial goals uh for PayPal, uh change how the payments company reports earnings, and had assigned each line of business a specific revenue target to try and give investors a better sense of the potential for PayPal.

I think about whenever I buy something online, the first option is always Apple Pay, the second option is always Google Pay, and then PayPal's like the third. Even though, as you said, it's the pioneer, it was the first mover here.

And thus you have just uh underscored the problems facing PayPal.

doesn't have the pay Apple Pay option when I'm buying something, it ain't happening. Uh it's just not happening. They're not getting paid. And that includes

for everything.

I do use cash and I do

Oh, here comes Scarlet.

I know. I've seen this.

The blonde one.

All things in cash.

But Apple Pay is just the best and it's somebody doesn't have it, they're just not getting paid. So, that's it.

All right. Marvell posting a moderate beat and raising its guidance but the shares fell. Investors want more. Investors remain actually they remain focused on uh Marvell's partnership with Google

[snorts]

and the big impact of this deal they said in their earnings report won't be seen until fiscal year 2029 results and beyond.

from now.

Yeah, that's a lot farther than everybody had hoped for. Uh the company did post revenue of 2 and 1/2 billion dollars in the second quarter. That was in line with expectations. They also said they're raising guidance for revenue in 2027 and 2028. Uh shares uh have soared actually since the start of this year more than 180%. Uh also new Gap um jumping those shares. They named a retail industry veteran to head Old Navy.

Old Navy's been kind of struggling. Uh Michael Francis worked 26 years at Target and also 10 years at uh Walmart. He's going to take over as the CEO of Old Navy on November 2nd. So, this appointment follows a 4% sales decline last quarter Old Navy stores. Uh as for the earnings Gap did trim the upper range of its outlook for 2026 net sales. Also cut the forecast for Old Navy's comp sales. The company raised its full year outlook for earnings per share.

Uh the new guy Francis known as a marketing guru for the industry. You'll remember he helped um he was at Target. He helped uh helm their what we called cheap chic popularity during

When it was Target.

Target. During the 2000s um the big box retailer at Walmart [music] when he was there they rolled out designer collaborations.

This Stock [music] Movers Report from Bloomberg Radio. Check back with us throughout the day [music] for the latest round up of companies making news on Wall Street. And for the latest market moving headlines, [music] listen to Bloomberg Radio live. Catch us on YouTube, bloomberg.com, and on Apple CarPlay [music] and Android Auto with the Bloomberg Business App.