eBay and Discover PARTNER UP and 3 Stocks Hitting 52-Week Highs

American Eagle Outfitters (NYSE:AEO) expects to incur an after-tax loss of about $35 million, including $25 million of exit related charges and $10 million of operational costs during the exit period. The after tax loss for Q2 totaled $24 million, or a 12c loss per diluted share, versus an operating loss of $5 million, or a 3c loss per diluted share, the previous year. The rest of the exit period costs should be incurred during Q3 of fiscal 2012. The shares closed at $22.13, up $1.3 or 6.24% on the day. They have traded in a 52-week range of $10.00 to $21.53.

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Allstate Corporation (NYSE:ALL) has been joined by Gupta from Ally Financial, where he was chief marketing officer and led the global re-branding efforts and the quick growth of the consumer deposit business. The shares closed at $38.34, up $0.09 or 0.24% on the day. They have traded in a 52-week range of $22.27 to $38.48.

Chico’s Fas (NYSE:CHS) thinks that it has the ability to increase store count by a minimum of 120 stores per year in the near future. The shares closed at $18.21, up $1.13 or 6.62% on the day. They have traded in a 52-week range of $9.57 to $17.08.

Discover Financial (NYSE:DFS) along with eBay (NASDAQ:EBAY) climb after the companies announced their partnership that will enable merchants to accept eBay’s PayPal as a payment option in their physical stores, not only online. Beneath the agreements of the partnership, which is slated to become operational during Q2 of 2013, over 7 million merchants who accept Discover cards will have the ability to process payments from PayPal products. “We are combining Discover’s extensive off-line network with PayPal’s global online footprint and our innovative digital wallet technology,” eBay VP of Retail & Prepaid Products Don Kingsborough stated. Kingsborough also said that eBay would initially issue credit cards to consumers participating in the initiative and then attempt to move these consumers towards different point of sale technologies. eBay suggested that its partnership with Discover, like its previous point-of-sale initiatives, would minimize its margins on transactions. The company thinks that if it is successful in the point-of-sale arena, its segment margins will rise. Also, eBay suggested that it is still in the process of recruiting credit card acquirers- the banks that process the transactions- to become part of the initiative. eBay stated that the acquirers would gain revenue if they participate in the program. In mid-afternoon trading, eBay was boosted $1.32, or 2.88 percent, to $47.18, while Discover climbed $1.71, or 4.62 percent, to $38.71. The shares closed at $38.43, up $1.43 or 3.86% on the day. They have traded in a 52-week range of $21.44 to $38.02.

Ebay Inc. (NASDAQ:EBAY) and Discover Financial (NYSE:DFS)climb after the companies announced their partnership that will enable merchants to accept eBay’s PayPal as a payment option in their physical stores, not only online. Beneath the agreements of the partnership, which is slated to become operational during Q2 of 2013, over 7 million merchants who accept Discover cards will have the ability to process payments from PayPal products. “We are combining Discover’s extensive off-line network with PayPal’s global online footprint and our innovative digital wallet technology,” eBay VP of Retail & Prepaid Products Don Kingsborough stated. Kingsborough also said that eBay would initially issue credit cards to consumers participating in the initiative and then attempt to move these consumers towards different point of sale technologies. eBay suggested that its partnership with Discover, like its previous point-of-sale initiatives, would minimize its margins on transactions. The company thinks that if it is successful in the point-of-sale arena, its segment margins will rise. Also, eBay suggested that it is still in the process of recruiting credit card acquirers- the banks that process the transactions- to become part of the initiative. eBay stated that the acquirers would gain revenue if they participate in the program. In mid-afternoon trading, eBay was boosted $1.32, or 2.88 percent, to $47.18, while Discover climbed $1.71, or 4.62 percent, to $38.71. The shares closed at $47.00, up $1.15 or 2.51% on the day. They have traded in a 52-week range of $27.41 to $47.07.

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