Tech Five: eBay sinks off stock downgrade

Brett Molina

USA TODAY

Online marketplace eBay is off to a rough start in pre-market trading Thursday. Let's take a look at the technology stocks to watch:

FILE - JANUARY 21, 2015: It was reported that eBay said it will cut 7 percent of its workforce, or 2,400 jobs January 21, 2015. SAN JOSE, CA - JANUARY 22: A sign is posted in front of the eBay headquarters on January 22, 2014 in San Jose, California. eBay Inc. will report fourth quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images) ORG XMIT: 464899513 ORIG FILE ID: 464399567

eBay. Shares are down nearly 3% after Piper Jaffray analyst Gene Munster downgraded its stock to underweight, reports CNBC. Munster cites growing competition for PayPal in mobile payments space, with new players including Apple and Google. A planned spinoff of PayPay by eBay happens later this year.

Apple. The tech giant and most valuable company in the world starts trading in the Dow Jones industrial average. The company replaces wireless giant AT&T.

Alibaba. The e-commerce company is testing technology that essentially lets users pay for goods with a selfie. Fortune reports the technology uses facial recognition to process payments through the company's Alipay service. It will roll out to China first before launching in additional countries.

T-Mobile. The wireless carrier is adapting its consumer-driven "Uncarrier" campaign to businesses. T-Mobile CEO John Legere says the series of flexible-rate plans will target smaller businesses.

Amazon. The company is expanding its Prime Now one-hour delivery service to two more cities: Baltimore and Miami. The service lets users order items through an app and have them delivered within an hour.

Follow Brett Molina on Twitter: @brettmolina23.

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