Open: 59.83 Close: 59.41 Change: -0.42

Today's Summary

PayPal announced it submitted applications to the Federal Deposit Insurance Corp. A successful granting of the charter would enable PayPal to make its U.S. operations. Morgan Stanley analyst James Faucette downgraded PayPal from equal-weight to underweight. PayPal shares were down 0.10% at $60.13 at the time of publication. PayPal is a solid investment opportunity at 12x forward P/E. Last quarter, PayPal showed accelerating top-line and bottom-line performance.