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Byline: CRAIG SHAW
Stocks stumbled Monday amid concerns about a prolonged conflict in Iraq and a factory slowdown. The Nasdaq slumped 2.1% on stronger volume for its fourth straight down day and first bout of distribution since the March 17 follow-through.
EBay tumbled 3.98, or 4.5%, to 85.31 on the heaviest trade since mid-January. The online auctioneer was up 32% for the year before Monday's pullback. It remains well above its 50-day moving average.
The U.S. attorney for the eastern district of Missouri claimed eBay's PayPal operation violated part of the USA Patriot Act in connection with alleged payments from online gambling merchants. EBay said PayPal acted in good faith and believes it didn't violate the Patriot Act. EBay bought online payment processor PayPal for $1.4 billion in October.
Epiq Systems dived beneath its pivot point a session after clearing a seven-month base. The bankruptcy software firm slipped 1.07 to 19.20. More than 335,000 shares changed hands, triple normal trade and heavier volume than its breakout day. A.G. Edwards cut Epiq to hold from buy based on valuation.
Mercury Interactive gapped down 1.95 to 29.68, ...