eBay gains access to key market

Article Excerpt

EBAY INC. $39 (Nasdaq symbol EBAY; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 1.0 billion; Market cap: $39.0 billion; Price to-sales ratio: 4.0; No dividend paid; TSINetwork Rating: Above Average; www.ebay.com) has formed an alliance with Dubai-based Noon.com. That e-commerce website operates in several Middle Eastern countries, including Saudi Arabia and UAE. Under the terms of the deal, eBay will make available products from the U.S. and other countries to Noon.com shoppers. Teaming up with Noon.com should let eBay tap into rising interest in online shopping across the Persian Gulf. The region’s e-commerce sales will likely double by 2020. eBay is a buy. buy…