After Microsoft withdrew its $33-a-share offer for Yahoo on Saturday, the question was how far Yahoo’s stock would drop. On Monday, the markets gave an initial answer: plenty.
At 12:20 p.m., Yahoo’s shares were off about 14 percent, at $24.65, after closing at $28.67 on Friday — a day when the companies were said to be escalating their talks on a merger. The shares recovered some ground after losing about 20 percent at the start of Monday’s trading.
Microsoft’s own shares edged up slightly, to $29.34, from their Friday close of...
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Posted by
Kevom 7 days 23 hours ago
Microsoft is withdrawing its offer for Yahoo after talks between the two companies broke down on Saturday. Should investors sue or back Yang?
Microsoft hiked its offer to $33 a share, but Yahoo was holding out for $37 a share, the source said. The two sides met face to face again Saturday, but remained far apart.
Although price was a key issue, Microsoft also had strategic concerns and saw it as unlikely to achieve a friendly integration process. According to a source close to Microsoft, Yahoo founder and CEO Jerry Yang had "unrealistic...
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Twitter may soon dump the application framework in favor of Java or PHP, according to TechCrunch.
Twitter has been struggling with scaling issues. The group messaging site’s once-frequent problems with downtime have lessened, but it still experienced a caching problem a week ago that made the service virtually useless for an entire weekend. The company may have decided that if it wants to continue growing — without risking further outages that would hurt said growth — Rails wasn’t going to cut it.
These rumors come little more...
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EQAL, the new name of the production company behind the pioneering online video series Lonelygirl15, has received $5 million in funding from various investors to develop more shows beyond its first franchise and KateModern in UK. The round was led by Spark Capital, and includes some Silicon Valley heavyweights including Ron Conway and Marc Andreessen, and Georges Harik, a former Google executive. Also investing, Conrad Riggs, a Hollywood producer involved with TV shows such as “Survivor” and “The Apprentice”. All this for a Santa...
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Posted by
Duane 1 month 1 day ago
Yahoo and AOL are close on finalizing a deal that would combine parts of both companies. The deal would bridge Timer Warner's Internet operations with Yahoo by folding the AOL unit into Yahoo. In return, Time Warner would make a cash investment of about 20% of the combined entity, valuing AOL at about $10 billion.
The possible Yahoo-AOL tie-up is part of a threefold plan by Yahoo to present shareholders with an alternative to Microsoft's unsolicited offer. Yahoo would also propose repurchasing billions of dollars of its own shares and is...
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Google is launching Google App Engine , a suite of free services for developers which willl compete squarely with offerings Amazon already provides.
.Servers: Amazon's = EC2; Google's = Python
.Database: Amazon's = Simple DB; Google's = BigTable
.Storage: Amazon's = S3; Google's = GFS.
Google's goal is to make it easy to get started with a new Web application, and then make it easy to scale when that application reaches the point where it's receiving significant traffic and has millions of users, Google said in its new App Engine...
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Who would've thought a generic domain name would still have the capacity to pull in big bucks? Chris Clark, the seller of "Pizza.com," seemed a bit in shock after he managed to rake in $2.6 million from the auction of the domain name.
"It's crazy, it's just crazy," he told the Baltimore Sun after the close of the auction on Thursday.
Clark, who owns a software company, registered the Pizza.com domain name 14 years ago for just $20. Nothing fruitful ever really came of the domain, so he sat on it for a while, and then he and a friend...
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In this ultimatum Microsoft makes a compelling case that Yahoo's board is violating its fiduciary duty to shareholders by not even engaging with Microsoft. This, combined with the threat of a bid cut, will likely prompt Yahoo shareholders to turn up the heat on Yahoo's board and management. It will also likely prompt Yahoo's board to do some real soul-searching, in which the directors ask themselves again whether they really want to continue down this path.
Given Microsoft's clear warning and advance notice of a bid cut, Yahoo's board is...
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In the first sizable layoffs in its history, Google is cutting about 300 jobs from the American operations of DoubleClick, the advertising technology company that it acquired recently, according to a person with direct knowledge of Google’s plans.
The cuts represent about a quarter of DoubleClick’s American work force of about 1,200. The company has about 1,500 employees worldwide, and the chief executive of Google, Eric E. Schmidt, has suggested that job cuts would also affect DoubleClick’s overseas operations at a later...
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Posted by
Kevom 1 month 17 days ago
Yahoo said on Tuesday that it supports OpenSocial; a protocol to develop applications for social networks and will help create a joint foundation to keep it alive.
Google launched its OpenSocial network in November to lure developers already creating popular Web applications on social networks like Facebook.
Yahoo, Google and News Corp-owned MySpace said on Tuesday they will create the OpenSocial Foundation to maintain a neutral, community-governed forum for developing applications. It will be set up as a non-profit entity, with assets...
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