It’s never the news that matters, it’s the reaction to the news. When Google bought YouTube, the market voted with a resoiunding YES. Still does. When EBAY bought Skype, the stock prce of Ebay began to plunge.
As Google and Amazon have surged, Yahoo and Ebay have withered. Dumb acquisitions get factored in surprisingly fast on Wall Street.
About 9 months ago, Ebay began a climb back from the mid $20’s to today’s $39 and change. Inside circles had obviously given up on the Skype acquisition and the big institutions had it factored in and the money began flowing back into EBay. Obviously the big money feels that management won’t go crazy again and stick to it’s knitting. So the actual news today was not met with any big move in the stock .