EBay like a mature stock?

It was day two yesterday. The Q2 results season was got under way as Big Blue pleased markets, and Yahoo disappointed.

Then yesterday, Apple and Motorola pleased while Intel disappointed with lower than expected sales.

But, after Apple, perhaps the next most interesting stock was eBay. Interesting, because it did very little.

Q2 profits at eBay were down on a year earlier, from $291.6million to $250 million. That’s okay, no one was surprised by that. In fact the best phrase that could be used to describe eBay’s growth over the last 18 months or so, would be "as flat as a pancake."

It’s as if the company has done what it was going to do out of online auctions

Indeed, as yesterday it announced a $2 billion share buyback, which is what you expect mature companies to do, not high growth techs [...]

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