The WSJ reports that eBay (EBAY) in its second big pullback from Asia, is shutting down its main Web site in China and replacing it with a site that would be largely run by Tom Online (TOMO). The co plans to announce as early as today that it is taking a 49% stake in the new site in partnership with Tom Online. Tom Online would hold the other 51%.
Barron’s Online “Inside Scoop” section reports that value investor Blum Capital has begun harvesting profits from its stake in UAP Holding (UAPH) as the agricultural-products maker continues to trade near its 52w high. Blum disclosed that it sold about $11m in UAP stock, cutting its stake to 6.1%, or 3.13m shares, down from 7.1% stake, or 3.6m shares.