Services. Westpacs full year profits plunge after fines for Money Laundering. Cash earnings falls. One of those stocks where watching going into the sydney open. Lets look at the market open. Sophie . Expecting some moves this monday. The biggest weekly drop since september 25 as investors adjust the some of the risk ahead. We did have the worst week for aussie stocks since april. Adding 0. 1 . We have amp shares gaining trillionter the this wealth manager said that a preliminary takeover approach of every management values the company at 4. 5 billion. Westpac has results out this morning. Later this week we get results upm alibaba which ticked single day sales early on sunday. The ipo is a big event we are watching this week. We are expecting a big pop here on thursday given the massive appetite we have seen for the offering. Friday had the biggest drop since june. Of a private survey of chinese manufacturing data. To focus more on the u. N. , lets pull up on the chart on the terminal
To doing away with a rule that football fans absolutely hate. It is 10 00 a. M. In new york city. You are watching Market Makers. I am Erik Schatzker. I am stephanie ruhle. Sackednfl going to get i am betting you thought that was corny. I am cringing, and we know i am the cheese of the show. Lets start with the big news ebay spinning off the paypal unit, bowing to carl icahn, who pushed for the split nine months ago. Donohue opposed the move and he will be leaving once the spinoff is complete. Lets bring in senior marcus correspondent julie hyman. What arent senior markets correspondent julie hyman. What are investors saying . The conventional wisdom is this does more for paypal than it does for ebay. Why are they splitting up . Why did carl icahn start pushing for this nine months ago . He felt as though, and it seemed other investors agreed, that paypal was being held back by ebay. Than half ofmore the volume of payments from paypal comes from ebay itself. Was it holding it back in t