eBay Inc

Efficiency plan and portfolio review are positives, but questions linger about the core business.

Strong e-commerce and Rack stores set it apart.

Managers from Dodge & Cox, Diamond Hill, Oakmark, and BBH bought energy companies, an online retailer, and a premium spirits producer--among others--last quarter.

However, we lack confidence in the sustainability of its economic profits.

Fourth-quarter results were a mixed bag, and we see shares as fairly valued.

We expect globalization will be a key growth driver for the wide-moat company.

We are reducing our $44 fair value estimate and see the stock as modestly undervalued but would prefer a wider margin of safety.

We'll see reports from General Electric, Johnson & Johnson, and IBM. Plus, retail sales, industrial production, and housing starts.

We believe companies with moats from switching costs and intangible assets are less vulnerable.

Financial transactions are the most obvious application, but there are other opportunities as well.

The transition into payments could enhance the network effect behind our narrow moat rating on the firm and improve consolidated take rates.

The renamed communication services sector will combine select technology and consumer discretionary stocks with current telecommunication services names.

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This period saw the return of our top managers into household, blue-chip names.

Bronze-rated Parnassus Fund’s record of excellent stock-picking and a strong environmental, social, and governance focus outweigh succession questions.

We expect to increase our fair value estimate of the firm, but prefer a wider margin of safety before adding to positions.

We'll get updates from Bank of America, Goldman Sachs, Morgan Stanley, Netflix, Visa, GE, and more.

Wide moats keep payment networks safe, but competition rages at the outskirts of the ecosystem.

We're taking a more conservative approach to the 2017 outlook than the firm's, but we're not planning changes to our fair value estimate.

EBay's focus on improving its brand positioning and user experience is encouraging, but structural headwinds remain.