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Market Movers Today: eBay Inc (EBAY), Hershey Co. (HSY), QuinStreet Inc (QNST), and More

Hershey Co (NYSE:HSY) (The Motley Fool)
What happened: Shares of Hershey Co. (NYSE:HSY) slipped today after the company posted disappointing results in its fourth-quarter earnings report. Like its peers, the candy maker is struggling with a consumer shift away from sugary foods and drinks to healthier products. The stock was down 5.7% as of 11:19 a.m. EST. So what: Hershey said net sales declined 1.7% in the period to $1.94 billion as sales volume was off 2.3%. That was slightly below analyst estimates of $1.96 billion, though the company blamed the tumble in part on the timing of shipments in the quarter and the successful launch of Hershey’s Cookie Layer Crunch Bar in the period the year before.

eBay Inc (NASDAQ:EBAY) (MarketWatch)
More than two years after splitting up with PayPal Holdings Inc., eBay Inc. is planning to distance itself from the relationship even more. EBay EBAY, +14.47% said Wednesday that it plans to take over crucial payments-processing duties for its core Marketplace e-commerce offering, a role that PayPal PYPL, -6.21% has handled for the e-commerce site under a deal signed when the two companies split in 2015. EBay said it expects to fully transition to the new system in 2021 with the help of a new payments partner, Adyen; the deal with PayPal runs through mid-2020, and eBay said that PayPal had agreed to a new agreement that will continue to allow buyers to pay with its services through at least 2023.

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QuinStreet Inc (NASDAQ:QNST) (Benzinga)
QuinStreet Inc shares jumped 30.9 percent to $12.21 after reporting a second quarter earnings beat. The company guided FY18 revenues outlook at 20 percent growth.

Alibaba Group Holding Ltd (NYSE:BABA) (Barron’s)
Alibaba Group Holding (BABA) shares are down about 3.5%, to $197.25, on Thursday morning after the Chinese online retail giant posted disappointing earnings for its holiday quarter. Missing earnings expectations is never good, but the stock appears to be reacting to another issue, according to some observers. Alibaba took a 33% stake in Ant Financial, an affiliate that operates a mobile payment wallet called Alipay and other financial services. Previously, Alibaba had a deal to shares some of Ant’s profits, but that deal will now become an equity agreement.

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