Word: yahoo
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Every time there is news about the internet portal Yahoo!(YHOO), it makes the front pages. The only story about Yahoo, however, that deserved attention was the monstrous violation of fiduciary duty that its board made when it turned down Microsoft's (MSFT) offer to buy the company. Beyond that, Yahoo is now a relatively small company with faltering profits that is no longer even important to its own industries, either media or the internet...
...media has become fascinated with Yahoo again over the last few weeks as it finally found a new CEO to run the company in the place of founder Jerry Yang who was part of the Microsoft foul-up. Carol Bartz was the head of Autodesk (ADSK) from 1992 to 2006. She deserves whatever credit she got for improving Autodesk's fortunes. The stock soared over the period that she ran the company. (See pictures of TIME's Wall Street covers...
...There is very little left of Yahoo compared to what the company was even three years ago when the stock traded at $43, just after posting the highest operating income in its history. The stock now trades around $12. Yahoo's market value has dropped to $17 billion. Its value now is about the same as trash hauling firm Waste Management (WMI). In the last quarter, the portal company had an operating loss of $278 million. With goodwill and restructuring charges taken out, Yahoo would have made a modest profit. The sales are not likely to get better...
...company wants to control personnel costs, it can simply stop hiring. Google has been adding employees at a dizzying rate for four years. Google, like Apple, has a tremendous interest in keeping its R&D, marketing, product development, and engineering projects going forward as rivals like Microsoft (MSFT) and Yahoo! (YHOO) falter. Google has a chance to pick up market share from both companies and improve its competitive position against Microsoft in the PC application business. It can significantly improve its edge by putting money into initiatives while its rivals are cautious or under-funded. The world's largest search...
...Yahoo! (YHOO) and Time Warner were downgraded by a Wall St. analyst yesterday. His reason for cutting Time Warner is that, once its cable systems have been spun-out to shareholders, its crown jewels which include Time Inc, AOL, and networks such as CNN were not worth the multiple at which the company trades. The essence of his argument is that content, even the best content, is losing its value...