Wednesday, April 17, 2013

YHOO: Yahoo (YHOO -0.2%) does an about-face, moving...

10:15 AM Yahoo (YHOO -0.2%) does an about-face, moving towards breakeven following a revenue miss driven by slumping ad prices. An upgrade to Buy from BofA/Merrill isn't hurting; the firm touts the value of Yahoo's Asian assets. While discussing the report, the WSJ noted talks with Madison Ave. execs indicate their spending on Yahoo "is the same or lower than it was a year ago," as they wait for a promised turnaround and additional clarity on Yahoo's strategy. Yahoo bull Eric Jackson: "This is honestly like watching Amazon trade a day after "terrible" earnings." Read comments

YHOO price at time of publication: $23.71. Check YHOO price now »

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