EBay gains after Reuters reports it plans to cut 9% of workforce

By Reuters News

** Shares of eBay EBAY.O up 1.4% at $122.90 after Reuters report that co plans to lay off about 9% of its workforce or 1,000 employees to simplify operations

** EBAY had laid off 800 employees, or 6% of its workforce in February as part of its efforts to streamline operations

** Stock trading at 18.42 times expected EPS over next 12 months, well above industry median of 12.44

** 12 of 33 brokerages rate stock "buy" or higher, 19 "hold" and 2 "sell" or lower; median PT $118 - data compiled by LSEG

** Including session's move, EBAY up over 41% YTD, outperforming the S&P 500 Index's .SPX 13% rise

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