eBay Inc. (NASDAQ:EBAY) reported that its BOD has permitted the completion of the separation of eBay and PayPal into independent publicly traded companies. The separation will occur through a pro rata distribution of all of the stock of eBay’s subsidiary PayPal Holdings, Inc. to eBay shareholders. eBay Inc. shareholders will receive one share of PayPal common stock for each share of eBay Inc. common stock held as of the close of business on July 8, the record date for the distribution. The distribution of PayPal common stock is expected to occur on July 17. PayPal anticipates that “when-issued” trading will begin on or about July 6, and will continue up to and through the distribution date. Shares of PayPal in the “when-issued” market will trade under the symbol PYPL.wi. “Regular-way” trading in PayPal’s common stock is expected to begin on July 20, the first trading day following the completion of the separation. eBay Inc. (NASDAQ:EBAY) stock hit highest price at $61.710, beginning with a price of $61.600 to close at 61.03 by a loss of -0.92% with a day range of $60.700-$61.710. The total market capitalization remained 74.15 Billion, total volume of 6.6 Million shares held in the session was surprisingly higher than its average volume of 6968.53 shares.
Delphi Automotive PLC (NYSE:DLPH) released that its corrected a Reuters story that quoted a Delphi executive as declaring that two self-driving prototype cars, one operated by Google Inc (GOOG) and the other by Delphi, had a close call on a Silicon Valley street earlier this week. Delphi stated in a statement that during a current visit with Reuters, their Delphi specialist described an actual interaction that we encounter all the time in real-world driving situations. In this case, it was a typical lane change maneuver. No vehicle was cut off and the vehicles didn’t even come close to each other. Both automated vehicles did exactly what they were supposed to do. Reuters said there was no collision place and the car took appropriate action, quoting John Absmeier – director of Delphi’s Silicon Valley lab and global business director for the company’s automated driving program – who was a passenger during the drive. Shares of Delphi Automotive PLC (NYSE:DLPH) opened at $88.73 with 288.74 million outstanding shares and hit to its highest price of $88.85 during the day and finally closed at $88.61 by scoring -0.15%. In the whole session, it traded on volume of 12.23 Million shares, which turned higher than its average volume.
Integrated Silicon Solution, Inc. (NASDAQ:ISSI) acknowledged receipt of a “best and final” offer from Cypress Semiconductor Corp. (CY) to acquire ISSI for $22.60 per share in cash, together with an incremental ticking fee of $0.10 per share for each additional three months required to obtain regulatory approval for a transaction with Cypress which would begin to accrue daily starting on October 1, 2015, up to a maximum of $0.20 per share. After considering that the best and final offer from Cypress, including the expected value of the ticking fee, had a lower price than the $23 per share provided by the amended merger agreement between ISSI and Uphill Investment Co., the ISSI Board has determined that the revised proposal from Cypress does not constitute, and would not be reasonably expected to lead to a Superior Proposal.
On the other consideration, Integrated Silicon Solution, Inc. (NASDAQ:ISSI) begun last trade with a price of $22.12 and throughout the trading session climbed at $22.46. The day-trade ended with an advance of 1% to close at $22.23.
