Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Elliott Management is urging eBay to restructure itself, including by possibly separating both StubHub and Classifieds from its core Marketplace platform. Elliott currently has around a 4% stake in eBay.

Why it matters: What Elliott wants, Elliott often gets. Particularly when its target is in the tech sector. That's why eBay shares are up over 8% in early Tuesday trades.

Caveat: Again, emphasis on tech sector. Just before hitting send this morning, Elliott target Arconic announced it's no longer for sale. Expectations had been that Apollo Global Management was just days away from making a $10 billion offer with Elliott as a co-investor.

The bottom line: "Despite its remarkable history as one of the world's largest e-commerce platforms, eBay as a public-company investment has underperformed both its peers and the market for a prolonged period of time," Elliott wrote in a letter to eBay.

Go deeper: How eBay shaped the modern internet

Go deeper

Dion Rabouin, author of Markets
16 mins ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
20 mins ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.

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