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Yesterday, eBay Inc.(Nasdaq: EBAY) formally announced plans to spin off its PayPal division in 2015. Shares of eBay soared more than 7% on the news. PayPal, as a stand-alone division, has generated $7.2 billion in revenue over the last 12 months. The news was a boon for activist investorCarl Icahn, who launched a high-profile battle with eBay in January in an attempt to force it to spin off its payment division.