PayPal Shares Jump on Elliott's $2 Billion Stake, Annual Profit Guidance Raise

PayPal shares shot up by 12 percent after the company announced about Elliott’s $2 billion (roughly Rs. 15,800 crore) stake. The company also raised its annual profit guidance. In a slew of changes, Blake Jorgensen will take over the role as Paypal's new chief financial officer from Wednesday. Jorgensen was earlier working with Electronic Arts.

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