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May 25, 2012
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| 16:27 EDT |  | YHOO |
| theflyonthewall.com: | Yahoo! discontinues Livestand | | Yahoo! has discontinued Livestand, its personalized digital newstand app for the iPad. Announced on the company's blog, the move is part of their plan to discontinue or consolidate a number of products across its technology platforms over the course of 2012. Reference Link :theflyonthewall.com |
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| 07:29 EDT |  | YHOO |
| theflyonthewall.com: | Alibaba.com shareholders vote in favor of Alibaba Group proposal, WSJ reports | | Alibaba.com's (ALBCF) minority shareholders have voted in favor of a proposal to be taken private by Alibaba Group, reports the Wall Street Journal. Alibaba Group will pay HK$13.50, or $1.74, a share for the 27% stake it doesn't already own. Reference Link :theflyonthewall.com |
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May 24, 2012
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| 07:26 EDT | | YHOO |
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| 06:13 EDT | | YHOO |
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May 23, 2012
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| 08:10 EDT | | YHOO |
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| 07:50 EDT | | YHOO |
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| 06:12 EDT | | YHOO |
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May 22, 2012
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| 16:00 EDT |  | YHOO |
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May 21, 2012
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| 18:41 EDT | | YHOO |
| theflyonthewall.com: | Former Yahoo! executive Robert W. Kwok charged with insider trading | | The SEC charged Robert W. Kwok, a former executive at Yahoo! (YHOO) and a former mutual fund manager at a unit of Ameriprise Financial (AMP), with insider trading regarding a search engine partnership between Yahoo and Microsoft (MSFT). Reference Link :theflyonthewall.com |
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| 18:18 EDT | | YHOO |
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| 16:16 EDT |  | YHOO |
| theflyonthewall.com: | On The Fly: Closing Wrap | | Stocks on Wall Street were higher in spite of Facebook (FB) breaking its IPO pricing. Stock futures were higher throughout the premarket trading session as the market got ready to bounce from its two week tailspin. There was little reaction to the better than expected Chicago Fed National Activity Index but the futures action led to a higher open for the broader market. The averages began the day slightly higher but moved firmly into the green shortly after midmorning. The market then moved in a narrow range for most of the session, but with an upward trend, as the market finally broke its losing streak... ECONOMIC EVENTS: Domestically, the Chicago Fed National Activity Index rose to +0.11 for the month of April from -0.29 in March... COMPANY NEWS: Facebook shares fell below their $38 issue price in premarket trading and continued to slide as much as 13.7% before finding a level near $33. In its second day of trading the stock closed down $4.20, or 10.99%, at $34.03... Yahoo! (YHOO) agreed to sell half of its 40% stake in Chinese e-commerce group Alibaba for about $7.1B and laid out a joint agreement for a plan to dispose of the remainder of its stake over time. Yahoo did not give exact plans for what it will do with the proceeds, expected to be about $4.2B after taxes, but did increase its share repurchase authorization by $5B concurrently with the transaction... JP Morgan (JPM) slid close to another 3% as the company's CEO Jamie Dimon announced at an investor conference that the bank is suspending its share repurchase program for the time being as it works to strengthen its capitalization ahead of new regulations... MAJOR MOVERS: Among the notable gainers were Cooper Industries (CBE), up $14.04, or 25.14%, to $69.88, after agreeing to be acquired by Eaton Corporation (ETN) in a cash and stock deal valued at $72.00 per share, and Krispy Kreme (KKD), up 61c, or 10.15%, to $6.62, following its report of better than expected earnings. Also higher were shares of Westport Innovations (WPRT), up $2.83, or 11.93%, to $26.56, as Craig-Hallum said in a note to investors that the firm sees more catalysts heading into Westport's analyst day later this week and continues to recommend the stock as the shift towards natural gas in trucking is hitting a tipping point. Noteworthy losers included Lowe's (LOW), down $2.88, or 10.11%, to $25.60, after its sales and profits beat estimates but its yearly earnings guidance came in below consensus, and BlackRock (BLK), down $4.18, or 2.43%, to $167.73, as Barclays (BCS) announced plans to sell its entire 19.6% stake in the alternative investment manager... INDICES: The Dow gained 135.10, or 1.09%, to 12,504.48; the Nasdaq rose 68.42, or 2.46%, to 2,847.21; and the S&P 500 added 20.77, or 1.60%, to 1,315.99. :theflyonthewall.com |
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| 13:25 EDT |  | YHOO |
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| 12:21 EDT | | YHOO |
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| 11:11 EDT |  | YHOO |
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| 09:33 EDT | | YHOO |
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| 09:32 EDT | | YHOO |
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| 09:28 EDT | | YHOO |
| theflyonthewall.com: | Yahoo sees closing of sale of first 20% of Alibaba stake closing within 6 months |
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| 09:26 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! CEO says deal more straightforward, quicker to close than PIPE deal | | Says both parties ultimately concluded that the complex and unprecedented nature of the contemplated transaction were not justified relative to the potential tax savings. :theflyonthewall.com |
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| 09:22 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! CEO: Deal with Alibaba reaffirms relationship, set for more collaboration | | Comments made by interim CEO Ross Levinson on conference call to discuss agreement on comprehensive plan for Alibaba stake. :theflyonthewall.com |
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| 09:00 EDT |  | YHOO |
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| 08:56 EDT |  | YHOO |
| theflyonthewall.com: | Yahoo! asset sale could be viewed negatively longer term, says Piper Jaffray | | Piper Jaffray says the valuation of Yahoo!'s Alibaba assets in the deal announced overnight was essentially inline with its sum of the parts price target of $18 for Yahoo!. Piper believes that while the asset sale is likely to be viewed positively in the short-term, it could be viewed negatively longer term since Yahoo! is selling a large portion of the most important company in Chinese eCommerce which is likely to be worth more in five years than today. The firm keeps an Overweight rating on Yahoo! shares. :theflyonthewall.com |
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| 08:41 EDT | | YHOO |
| theflyonthewall.com: | Yahoo volatility increases on Alibaba stake sale and share buyback | | Yahoo overall option implied volatility of 39 is above its 26-week average of 37 according to Track Data, suggesting larger price movement into the company increasing its share buyback authorization by $5B after closing of the Alibaba 20% stake sale. :theflyonthewall.com |
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| 07:56 EDT | | YHOO |
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| 07:54 EDT | | YHOO |
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| 07:52 EDT | | YHOO |
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| 07:51 EDT |  | YHOO |
| theflyonthewall.com: | Yahoo! to host conference call | | Conference call to discuss agreement on comprehensive plan for Alibaba stake will be held on May 21 at 8:45 am. Webcast Link :theflyonthewall.com |
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| 05:21 EDT | | YHOO |
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May 20, 2012
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| 18:35 EDT | | YHOO |
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May 18, 2012
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| 16:14 EDT | | YHOO |
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| 14:37 EDT | | YHOO |
| theflyonthewall.com: | Market set to end week lower as European situation continues to rattle investors | | Stocks are poised to end the week much lower as investors continued to worry that Greece could leave the euro zone, sparking a worldwide financial crisis. MACRO NEWS: Greece officially announced that it would hold new elections on June 17. The country's second-largest party, SYRIZA, has said that it wouldn't adhere to the agreements that previous Greek governments made in order to obtain bailout funds. Meanwhile, Greeks pulled their money out of the country's banks in droves... Also unnerving investors was the situation in Spain, whose fourth largest bank was reportedly hit with more than EUR1B of withdrawals. In a related development, Moody's downgraded its ratings on 16 Spanish banks... U.S. economic data failed to boost stocks, as jobless claims were in-line with the consensus estimate, but the index of leading economic indicators for April came in significantly below the consensus estimate. COMPANY NEWS: Facebook (FB) launched its IPO. The stock opened at $38 and was trading at $40.15 at 2:20 PM ET... Yahoo's (YHOO) CEO resigned, and the company agreed to add three nominees made by hedge fund Third Point to its board. The company is reportedly in talks to sell a 20% stake in Chinese e-commerce company Alibaba back to the Chinese company for about $7B, according to All Things Digital... Groupon (GRPN) reported stronger than expected Q1 results, :theflyonthewall.com |
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| 12:44 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! said in talks to sell 20% of Alibaba back to company, Bloomberg reports |
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| 12:19 EDT | | YHOO |
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| 10:27 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! said in talks to sell 20% of Alibaba back to company, Bloomberg reports |
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| 09:00 EDT | | YHOO |
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| 08:42 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! gaps up in early trading, resistance is at $15.96 | | :theflyonthewall.com |
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| 07:14 EDT | | YHOO |
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| 06:29 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! may finally strike Alibaba share deal, AllThingsD reports | | According to multiple sources, Yahoo (YHOO) is close to a deal to sell a large chunk of its stake in Alibaba (ALBCF) back to the company, AllThingsD reports. The deal could include a multi-billion-dollar share buyback to Yahoo investors and the eventual IPO of Alibaba. A deal, which has not been officially approved by the boards of both companies, could be announced as early as Monday. Reference Link :theflyonthewall.com |
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| 05:57 EDT | | YHOO |
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May 17, 2012
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| 17:34 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! names Mollie Spilman new chief marketing officer, Bloomberg says | | :theflyonthewall.com |
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| 17:33 EDT | | YHOO |
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May 16, 2012
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| 04:45 EDT | | YHOO |
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May 15, 2012
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| 16:42 EDT | | YHOO |
| theflyonthewall.com: | Third Point reports increased stake in Yahoo! | | :theflyonthewall.com |
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| 16:34 EDT | | YHOO |
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| 08:12 EDT | | YHOO |
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| 07:21 EDT | | YHOO |
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| 05:03 EDT | | YHOO |
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May 14, 2012
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| 17:52 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! to reimburse Third Point up to $4M for board replacement efforts | | Yahoo! has agreed to reimburse the Third Point Group for its documented expenses, fees and costs incurred in connection with, relating to or resulting from Third Point’s efforts to replace certain members of the Board, up to a maximum amount of $4M to be paid by Yahoo!. :theflyonthewall.com |
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| 17:49 EDT | | YHOO |
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| 16:51 EDT | | YHOO |
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| 16:47 EDT | | YHOO |
| theflyonthewall.com: | Yahoo: Thompson will not get severance compensation | | The following is from a company 8-K filing: Yahoo! and Mr. Thompson agreed to terminate all other agreements between them, including Mr. Thompson’s offer letter, all outstanding but not fully vested equity awards and Yahoo!’s other plans and arrangements for the benefit of employees, with no severance compensation. However, in accordance with the terms of his offer letter, Mr. Thompson retained the make-whole cash bonus previously paid to him under his offer letter and the make-whole restricted stock units that had been granted to him pursuant to his offer letter and that had already vested. :theflyonthewall.com |
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| 16:45 EDT | | YHOO |
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| 16:22 EDT | | YHOO |
| theflyonthewall.com: | On The Fly: Closing Wrap | | Stocks on Wall Street were lower as fears mounted of a possible disorderly Greek exit from the euro currency. Stock futures were lower to begin the week as the market took its cue from the European markets, which were sharply lower. The weakness was attributed to Greece’s inability to form a coalition government and the prospect that the euro zone’s firewall will prove insufficient to shield Spain and other embattled countries against the effect of a Greek catastrophe. Weaker demand data out of China, highlighted by that country's policy response, certainly did not help either. The U.S. market opened sharply lower and continued its drop until finally finding a level about an hour into trading. With the financial sector still reeling from JP Morgan's (JPM) trading loss and the associated fallout, the averages tried in vain to recapture their losses before faltering again in the afternoon... ECONOMIC EVENTS: Domestically, there was little on the economic calendar. In Europe, stock markets plunged and the yields on benchmark sovereign debt in Greece, Spain and Italy spiked as Greece continues to be unable to form a new government. In China, the central bank announced plans over the weekend to cut its bank reserve requirement by 0.5 percentage points after economic readings showed industrial production growth had slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained 2% after activist investor Dan Loeb won a spot on the company's board, along with two of his other nominees, and the company's CEO Scott Thompson quit over the resume inaccuracy that Loeb brought to light... Chesapeake Energy (CHK) also jumped as it was linked to a prominent activist investor, as shares rose 4.79% after the Wall Street Journal reported that Carl Icahn will likely reveal he once again has increased his stake in the company. The company also said after the close on Friday that it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets and said on its call today to discuss the financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... MAJOR MOVERS: Among the notable gainers was Groupon (GRPN), up $1.84, or 18.54%, to $11.73, ahead of its earnings report after the bell and up another 11% in the after market when its earnings and revenue beat expectations. Also higher were shares of Francesca's (FRAN), up $1.58, or 6.60%, to $25.60, after the company raised its earnings and same store sales guidance for its upcoming report and terminated its CFO for improper communication via social media. Noteworthy losers included Ancestry.com (ACOM), down $3.59, or 13.72%, to $22.57, following NBC's cancellation of the show "Who Do You Think You Are?", which featured the company's technology and services, and InterOil (IOC), down $3.88, or 6.73%, to $53.73, after the company said it received a notice that Papua New Guinea's government will cancel a liquefied natural gas project in the country... INDICES: The Dow lost 125.25, or 0.98%, to 12,695.35; the Nasdaq fell 31.24, or 1.06%, to 2,902.58; and the S&P 500 dropped 15.04, or 1.11%, to 1,338.35. :theflyonthewall.com |
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| 12:18 EDT | | YHOO |
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| 12:18 EDT | | YHOO |
| theflyonthewall.com: | On The Fly: Midday Wrap | | Stocks on Wall Street were lower at midday, as investors worried about Europe and China. Stocks began the day sharply lower on the heels of a sell off in the European markets. The weakness overseas was attributed to concern over Greece’s inability to form a coalition government, putting its continued participation in the euro zone in greater doubt. The weakness spread to the U.S., where the financial sector remains in turmoil following JP Morgan’s (JPM) trading loss. The market opened lower but the selling intensified before finding a level where it began to recapture some of its losses. The market has essentially drifted off its lows to cut its losses in half... ECONOMIC EVENTS: In the U.S., there was little on the economic calendar to distract investors from worries about Europe and China. In Europe, the yields on 10-year Greek, Spanish and Italian bonds all climbed while German bond yields declined to historically low levels as fear continues to mount about the potential exit of Greece from the euro currency. Stock markets across Europe plunged as well. In China, the central bank took action over the weekend to stimulate slowing growth, as it announced plans to cut its bank reserve requirement by 0.5 percentage points the day after economic readings showed inflation, industrial production growth, spending and lending had all slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained almost 3% after its CEO Scott Thompson relented to pressure and stepped down following a firestorm over a computer science degree he never received. The company also reached a deal with activist shareholder Dan Loeb of Third Point, who had initially disclosed Thompson's resume problems, as the company agreed to allow Loeb and two other Third Point nominees to join its board... Another recently embattled company, Chesapeake Energy (CHK), jumped 7% after the company said it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets. Also, the Wall Street Journal reported that activist investor Carl Icahn will likely reveal he once again has increased his stake in Chesapeake, and the company said on its call to discuss its financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... JPMorgan Chase (JPM) continues to deal with the fallout of its $2B trading loss, as the bank announced that its Chief Investment Officer Ina Drew will retire, to be replaced by Matt Zames, and the bank's stock fell another 2%... Best Buy (BBY) Chairman Richard Schulze will step down when his term ends after the company's investigation into its former CEO Brian Dunn found that Dunn violated policy by engaging in an inappropriate personal relationship with a female employee and Schulze failed to bring the matter to the board's audit committee when he first learned of the allegations... MAJOR MOVERS: Among the notable gainers were Golfsmith (GOLF), up 28%, after agreeing to be acquired by Canada's Golf Town for $6.10 per share in cash, and Citizens South Banking (CSBC), up 24%, following its announcement that it will merge with Park Sterling Corporation (PSTB). Also higher were shares of Avon (AVP), up more than 4%, after the company responded to the latest $24.75 per share buyout offer from Coty, but asked for another week to make a decision on the bid... Noteworthy losers included Ancestry.com (ACOM), down 13%, following NBC's decision not to renew the TV show "Who Do You Think You Are?", and InterOil (IOC), down 9%, after the company got notice from Papua New Guinea of the state's intention to cancel an LNG project agreement... INDICES: Near noon, the Dow was down 82.07, or 0.64%, to 12,738.53; the Nasdaq was down 16.01, or 0.55%, to 2,917.81; and the S&P 500 was down 9.14, or 0.68%, to 1,344.25. :theflyonthewall.com |
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| 08:49 EDT | | YHOO |
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May 13, 2012
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| 16:22 EDT | | YHOO |
| theflyonthewall.com: | Yahoo! reaches agreement with Third Point to settle its pending proxy contest |
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| 16:18 EDT | | YHOO |
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| 16:16 EDT | | YHOO |
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