US Stock Market Move | Q4 performance below expectations PayPal (PYPL.US) plummets over 17% in pre-market trading.

On Tuesday, PayPal (PYPL.US) plummeted more than 17% in pre-market trading, with the stock expected to open at a near-year low at $42.99. On the news front, PayPal reported Q4 revenue of $8.68 billion, a 4% year-over-year increase, lower than the expected $8.801 billion; adjusted earnings per share were $1.23, a 3% year-over-year increase, lower than the expected $1.28; at the same time, PayPal appointed Enrique Lores from HP Inc. as its new CEO. PayPal's Chief Financial Officer stated that the performance results have not met our expectations or hopes. The retail merchant portfolio is under pressure, especially in low and middle-income consumer groups, and more measures need to be taken to win the favor of key merchants, especially during high-volume shopping periods.