PayPal turned down $53bn, and pointed to a beat and a $70 target

PayPal rejected a $53bn acquisition offer from Stripe and Advent, considering it undervalued compared to its current strategy and a $70 per share valuation by Cantor. The company reported better-than-expected Q2 earnings and raised its full-year guidance, emphasizing ongoing turnaround efforts including cost savings and AI integration. CEO Enrique Lores expressed confidence in PayPal's direction, asking shareholders to trust the internal plan rather than accept the bid.