PayPal picks HP’s Enrique Lores as CEO as weak outlook, earnings miss send shares sliding
PayPal on Tuesday chose Enrique Lores as its next CEO, following a profit forecast for 2026 that came in below expectations. The announcement knocked the stock down nearly 16% in premarket trading. The payments giant also posted holiday-quarter results that missed Wall Street estimates and revealed that growth in its higher-margin “branded checkout” button on merchant sites slowed to just 1%. This raised new concerns about competition from Apple, Google, and other rivals.