Yahoo shares fall 21 pct after Microsoft deal exit |
| Reuter - May 5, 2008 |
Yahoo Inc's (YHOO.O: Quote, Profile, Research) shares tumbled 22 percent in premarket trading on Monday after Microsoft Corp (MSFT.O: Quote, Profile, Research) withdrew its $47.5 billion takeover offer for the Internet search and media company.
The collapse of talks on what would have been one of the largest deals in the technology sector prompted Wall Street brokerages to cut their ratings and price targets on Yahoo, which rejected Microsoft's $33-per-share bid as too low and demanded $37 per share instead.
"Yahoo's execution remains the problem, as the company has not been able to execute better targeting and measurement on its own site effectively enough over the past 15 years," UBS analyst Heather Bellini wrote in a note to clients.
Read Full Article from Reuter
- Posted: 2008-05-05 08:21:44
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
