AmEx, eBay go in opposite directions; US stocks flat

Shares of eBay plunged while American Express rallied following earnings reports, as US stocks treaded water today in early trading.
Online marketplace eBay fell nearly 10 per cent on disappointment over its sales outlook for the key holiday quarter.
Meanwhile, American Express jumped 8.9 per cent as it lifted its full-year forecast following better-than-expected third quarter net profits.
The mixed earnings came as the European Central Bank kept rates on hold, as expected, while ECB President Mario Draghi dismissed talk of winding down the bank's massive stimulus program, which he said was not discussed by policymakers.
About 45 minutes into trading, the Dow Jones Industrial Average stood at 18,229.77, up 0.2 per cent.

The broad-based S&P 500 rose less than 0.1 per cent to 2,144.38, while the tech-rich Nasdaq Composite Index shed 0.1 per cent to 5,243,51.

Dow member Verizon dropped 21 per cent as third-quarter net income fell 10.2 per cent to USD 3.8 billion as it cited the hit from the recall and subsequent cancelation of the Samsung Galaxy Note 7 smartphone.
Walgreens Boots Alliance rose 3.8 per cent as it reported better-than-expected fourth quarter earnings and said it was delaying the time-frame for closing its deal to acquire rival pharmacy chain Rite Aid.
The deal is now expected to close by January 27, 2017 instead of October 27, 2016. Rite Aid rose 6.8 per cent.

American Airlines lost 1.9 per cent after reporting that third-quarter net income fell 56.5 per cent to USD 737 million as tough competition among carriers and lackluster economic growth dented revenues.
Toymaker Mattel surged 6.5 per cent after third-quarter net income rose 5.6 per cent to USD 236.3 million following strong sales for its Barbie and American Girl brands.