As reported late last year, eBay will spin off PayPal, separating into two entities. The split will happen sometime in the second half of this year. In preparation for that move, PayPal received its ticker symbol from Nasdaq and will be designated as PYPL. eBay’s newly hired president of enterprise growth at American Express Dan Schulman will become CEO of PayPal. PayPal has handled nearly 18 billion transactions and processed more than $1 trillion in payments to date.
Red Hat is set to join the Standard & Poor’s 500 this coming Friday, July 24, 2009. Red Hat joined Nasdaq in 1999 and then moved over to the NYSE in 2006. As a testament of Red Hat increasing role in business servers, the NYSE started using Red Hat servers themselves in 2008 for their trading operations. Despite the global economic crisis, Red Hat continues to impress posting revenue of $174 million this past year. Red Hat recent quarter netted $18 million net income.