Yahoo Down 2%; Off Session Lows As Investors Digest Earnings, Microsoft Bid
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[April 23, 2008]

Yahoo Down 2%; Off Session Lows As Investors Digest Earnings, Microsoft Bid

(Midnight Trader Via Acquire Media NewsEdge) Boston, Apr 23, 2008 (MidnightTrader via COMTEX News Network) --

Yahoo (YHOO) shares are down 2% near the open and trading above the low end of today's regular session range of $27.71 - $28.29.

The internet search engine reported earnings and revenue that beat the street and guided for Q2 revenue that was much higher than the Street.

But analysts were largely disappointed with the results. Revenue only inched higher by 9%, and its current-quarter guidance calls for top-line gains of only 2% to 14% with yet another year-over-year decline in operating income, according to media reports.



Microsoft Corp. Chief Executive Steve Ballmer told reporters this morning that he doesn't plan to raise his $44.6 billion offer, setting the stage for a fight to control the board that may start this weekend, Bloomberg reports. Some analysts, however, believe Microsoft may yet raise its bid, and say Yahoo is worth at least $35 a share.

Microsoft shares are higher by 1.9% to $30.81.



Price: 28.10, Change: -0.44, Percent Change: -1.54%

Copyright (C) 2008 MidnightTrader.com. All rights reserved.
Unauthorized reproduction is strictly prohibited.

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