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Yahoo! Rises on Reports Alibaba Deal Close

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May 18 0
YHOO logo

Yahoo! (NASDAQ:YHOO) is on the rise today after reports that it is close to selling part of its stake in the Alibaba Group. The details of the deal has Yahoo! selling half of its 40% stake in Alibaba back to the company. Jordan Rohan, an analyst with Stifel Nicolaus, said Yahoo could receive an estimated $4.6 billion in cash proceeds which translates into $3.75 per share. He also noted that shareholders would back this because, “Yahoo shares become a less risky investment through this deal.”

Finally a bit of good news for Yahoo! after its CEO Scott Thompson recently stepped down due to resume padding.

Yahoo! Inc. (NASDAQ:YHOO) is currently trading up 5.38% at $15.67. The stock is seeing above average volume today with over 20.8 million shares traded, 5 million shares more than YHOO usually trades on a daily basis. Shares of YHOO are down about $1 a share for the year, but were trading as low as $14.50 back in March.


Zynga Shares Halted as Facebook IPO Fails to Impress

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May 18 0
Stock News

Shares of Zynga Inc. (NASDAQ:ZNGA) were halted earlier this morning after tumbling more than 13% as Facebook (NASDAQ:FB) started off shaky. Facebook’s much celebrated IPO started with a dud today after opening at $42 and then falling to $38 before recovering some. The social media giant has been single handedly moving the market today with [...]

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JPMorgan’s Trading Loss Worsens

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May 17 0
Market News

The much talked about losing trade by JPMorgan last week continues to sting the company as its loss has jumped at least 50%. CEO Jamie Dimon warned last week that the loss could double in the coming quarters, but has happened much quicker as investors take advantage of JPMorgan’s precarious position. There are reports the [...]

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First Casualty to JPMorgan’s Huge Trading Loss

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May 14 0
JP Morgan Chase & Co.

Ina Drew, Chief Investment Officer, will retire after 30 years with the company. She was responsible for the trading strategy at JPMorgan and was one of the highest ranking women on Wall Street. CEO Jamie Dimon was quick to point out Drew’s “vast contributions to our company should not be overshadowed by these events.” He [...]

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Best Buy Founder Stepping Down

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May 14 0
Best Buy

Richard Schulze, Founder and Chairman, is stepping down after he failed to tell the board that former CEO, Brian Dunn, violated company policy by having “an extremely close personal relationship” with a female employee. An investigation found that the relationship did impact the work environment but no misuse of company resources took place. Dunn left [...]

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Political Stalemate in Greece, Euro Exit Looking More Likely

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May 14 0
Euro Bills

Efforts to form a coalition for a Greek government continue to fall short 8 days after elections. Policymakers in the EU have warned that Greece cannot remain a EU member if it does away with its bailout program which has seen massive austerity measures cripple the country. Should a coalition not be formed, the country [...]

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Cisco’s John Chambers Comments Has Corporate IT Focused Stocks Reeling

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May 10 0
Cisco

Cisco Systems Inc. (NASDAQ:CSCO) is currently down more than 10% at $16.85. Cisco’s drop comes as the company forecasted profits below what the Street was expecting. It was Chief Executive John Chambers’ comments that had everyone talking today. Chambers warned of a “cautious IT spending environment.” This comment sent companies focused on corporate IT lower. [...]

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Stocks Recover After Multiple Down Days Following Euro Elections

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May 10 0
Stock Market News

Stocks are trading higher this afternoon thanks to a slightly better than expected jobless claims report. The Labor Department said weekly jobless claims fell slightly last week to a seasonally adjusted 367,000. Analysts were expecting a slight uptick to 369,000. Other domestic economic news include the U.S. trade deficit widening in March to $51.8 million [...]

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Elections in Europe Bring Uncertainty Back to Markets

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May 7 0
Market News

News out of Europe is looking dire as weekend elections in Greece and France threw out governments who supported failing austerity policies in both countries. Socialist Francois Hollande defeated French President Nicolas Sarkozy while Greek elections saw fringe parties gain many seats in parliament. The winners of the elections have vowed to put the needs [...]

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Chrysler Recalls Some Dodge Chargers and Chrysler 300s

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May 7 0
Chrysler logo

Potential problems in these cars’ electrical stability control and anti-lock braking systems initiated the recall. About 127,350 current models have been recalled according to the company and U.S. safety regulators. Chrysler has said it is not aware of any injuries or crashes due to these issues. According to a filing, a fuse in the power [...]

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$OTT Chart

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Apr 23 0

Otelco Inc. provides a range of telecommunications services on a retail and wholesale basis. These services include local and long distance calling; network access to and from its customers; data transport; digital high-speed and dial-up Internet access; cable, satellite and Internet protocol television; wireless, and other telephone related services. The principal markets for these services [...]

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