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Market Data Table

Breakfast News: PayPal Plunges 15% As CEO Leaves

February 3, 2026

Monday's Markets
S&P 500 6,976 (+0.54%)
Nasdaq 23,592 (+0.56%)
Dow 49,408 (+1.05%)
Bitcoin $78,282 (+1.70%)

Chart showing PayPal's quarterly revenue over the past three years.

1) PayPal's Board Makes C-Suite Change

PayPal (NASDAQ:PYPL) fell more than 15% ahead of the market open, with interim CEO Jamie Miller admitting, "Our execution has not been where it needs to be" as part of quarterly results, with a new CEO announced to replace Alex Chriss.

"Enrique is widely recognized as a visionary leader who prioritizes customer-centric innovation with demonstrable impact": Enrique Lores will start the role next month, bringing over six years of experience as CEO at HP (NYSE:HPQ) with him.
Notable U.S. banking application submitted late last year: In December, Fool Chief Investment Officer Andy Cross said the move to set up PayPal Bank "could work out well for PayPal to give it an edge," but warned, "It's evidence that the go-go growth days of PayPal are a thing of the past."

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2) Nintendo Sales Pop on Switch 2 Demand

Recommended by Team Rule Breakers in Stock Advisor, Nintendo (OTC:NTDOY) was little changed before the market open after releasing a mixed bag of results, with console sales rising but also concerns around increasing memory chip costs.

86% revenue jump helped by 7 million Switch 2 unit sales: The company maintained the November forecast of hitting 19 million unit sales for the fiscal year ending next month.
Global trade disruptions are hurting any immediate optimism: The low profit margins on the Switch 2 console continue to be impacted by U.S. tariffs, with surging memory prices also a negative headwind for the coming year.

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3) Trump Slashes India Tariffs to 18%

President Donald Trump confirmed a reduction in the tariff rate for India from 25% to 18% as part of a broader trade deal that will see India ramp up U.S. purchases and stop buying Russian oil.

"The Prime Minister also committed…to over $500 billion dollars of U.S. energy, technology, agricultural, coal, and many other products": Trump outlined further details via social media, including a 0% tariff rate against U.S. goods.
The announcement comes a week after the landmark Indian deal with the E.U.: Prime Minister Modi referred to the European agreement as "the mother of all deals," sparking renewed attention from the U.S. to work on a bilateral arrangement as nations vie for trading power.

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4) Post-Market Rule Breakers Earnings

Chipotle (NYSE:CMG) investors will be keen to see better same-store restaurant sales than the 0.3% growth last quarter, although the tough economic climate on lower-income consumers is expected to weigh on performance.
Take-Two Interactive Software (NASDAQ:TTWO) should provide further clarity on the business outlook after guiding for a full-year net loss back in November. The business has missed revenue estimates only once in the past two years.
Advanced Micro Devices (NASDAQ:AMD) earnings will be partly dictated by the scope for further customer adoption of artificial intelligence (AI) accelerators, as noted last quarter. The stock is underperforming the S&P 500 by 4% since the January 2024 SA rec by Team Rule Breakers.

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5) Your Take

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