[Author is long YHOO; and has been since December 2010] …read more
Source: FULL ARTICLE at Forbes Latest
[Author is long YHOO; and has been since December 2010] …read more
Source: FULL ARTICLE at Forbes Latest
Oh to be Marissa Meyer. One day she’s excoriated for requiring her employees to deliver a little office facetime. Two weeks later she’s lauded for catalyzing a 15% increase in $YHOO stock price this year. Hey, at least she’s doing stuff, which may account for the renewed investor interest in this company whose fate not too long ago was decidedly uncertain …read more
Source: FULL ARTICLE at Forbes Latest
Filed under: Technology, Yahoo, Mergers & Acquisitions, Internet, Mobile Technology
LONDON — One of Britain’s youngest Internet entrepreneurs has hit the jackpot after selling his top-selling mobile application Summly to search giant Yahoo.
Seventeen-year-old Nick d’Aloisio, who dreamed up the idea for the content-shortening program when he was studying for his exams, said he was surprised by the deal. As with its other recent acquisitions, Yahoo Inc. (YHOO) didn’t disclose how much it is paying for Summly, although British newspapers suggested the deal’s value at several million dollars.
“I would have never imagined being in this position so suddenly,” he wrote on his website, before thanking his family, his school — and his venture capitalist backer Li Ka-Shing — for supporting him.
Summly works by condensing content so readers can scroll through more information more quickly — useful for the small screens of smartphones.
The deal announced Monday is Yahoo’s fifth small acquisition in the past five months. All of them have been part of CEO Marissa Mayer’s effort to attract more engineers with expertise in building services for smartphones and tablet computers, an increasingly important area of technology that she believes the Internet company had been neglecting.
Although the Yahoo acquisition won’t close until later this spring, D’Aloisio said the Summly will no longer be available. Summly’s technology will return in other Yahoo products, he said.
D’Aloisio will work for Yahoo in its London office — in part so that he can complete his high school exams. Two other Summly workers will join Yahoo at its Sunnyvale, California, headquarters.
D’Aloisio is younger than Yahoo, which was incorporated in March 1995.
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By MarketNewsVideo Yahoo! (YHOO) was upgraded by Oppenheimer (OPY) to outperform from perform with a price target of $27 as the company’s Japanese business has been gaining value, and the exepectation that Alibaby will IPO within the next year. …read more
Source: FULL ARTICLE at Forbes Markets
Filed under: Technology, Global Economy
Russia’s largest search engine, Yandex N.V. (NASDAQ: YNDX), announced a secondary offering of more than 24 million shares after markets closed last night, and the stock promptly fell 8%. But all is forgiven this morning.
The offering included only shares from some of the company’s largest shareholders, and Yandex did not share in the proceeds. The share price slide failed to take into account Yandex’s cash hoard of nearly $1 billion, which several analysts were quick to point out. At least one analyst thinks that Yandex will use some of that cash for a special dividend.
Yandex stock is essentially flat to its price of a year ago, while shares of Yahoo! Inc. (NASDAQ: YHOO) are up 53% and Google Inc. (NASDAQ: GOOG) shares are 30% higher. Only China’s Baidu Inc. (NASDAQ: BIDU) of the major search engines/portals is down. As of mid-February, Yandex searches outnumbered searches on Bing, the search engine from Microsoft Corp. (NASDAQ: MSFT), and the Russian service became the world’s fourth largest search provider.
The price target for Yandex is around $31 and shares are trading at $23.52 in the first half hour this morning, after last night’s nosedive. The 52-week range on the stock is $16.65 to $28.14.
Filed under: 24/7 Wall St. Wire, International Markets, Internet, Secondary Offering Tagged: BIDU, GOOG, MSFT, YHOO, YNDX
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Dow Jones U.S. Technology Sector Index Fund (AMEX: IYW) where we have detected an approximate $14.7 million dollar outflow — that’s a 0.8% decrease week over week (from 25,450,000 to 25,250,000). Among the largest underlying components of IYW, in trading today Hewlett-Packard Co (NYSE: HPQ) is off about 0.2%, Yahoo! Inc. (NASD: YHOO) is down about 1%, and Cognizant Technology Solutions Corp. (NASD: CTSH) is lower by about 1.8%. For a complete list of holdings, visit the IYW Holdings page ยป …read more
Source: FULL ARTICLE at Forbes Markets
By Anders Bylund, The Motley Fool
Filed under: Investing
Say what you want about the tech sector, but it’s never boring. Any given week will keep tech investors flooded with product announcements, earnings surprises, and crazy strategy shifts that absolutely nobody saw coming.
These are three of the most shocking pieces of tech news this week.
1. No more telecommuting
When Marissa Mayer took the CEO job at Yahoo! , you could smell change in the air. So far, she’s revamped the company’s cell-phone policies, pushed out a redesigned front page for Yahoo!’s crucial portal site, and delivered a rare 2% year-over-year revenue boost in her first quarter on the job.
Mayer clearly brought some of her Google mojo over from her former employer. As a Google shareholder, I’m sad to see her go because Big G lost an incredible talent here. And injecting some Google funk into Yahoo! Is never a bad idea, as even a cursory glance at the two companies’ stock charts will tell you:
But this week, Mayer delivered a shocker. Yahoo! has long offered a generous telecommuting policy, placing more value on getting the job done than on doing it at the office. That’s a thing of the past. From now on, Mayer expects her workers to make the daily commute in order to set up meetings, mingle by the watercooler, and generally break down barriers between different projects and ideas.
Creating synergies and happy accidents by forcing people into the office may or may not work. Only time will really tell. But the whole concept flies in the face of contemporary management philosophy. Silicon Valley neighbor Netflix , for example, wants to staff its halls with superstars and overachievers. It’s done by demanding high performance from everyone, while mediocrity earns you “a generous severance package.”
But you’re free to work when you want, where you want, and how you want — as long as the results are impeccable. Netflix doesn’t have a vacation policy — just take as much time off as you need, and then come back with fully charged batteries and get back to doing an amazing job.
Other companies have followed Netflix’s lead. Data delivery expert Akamai Technologies stole its vacation policy outright. Telecommuting is standard operating procedure in many Valley firms, and it’s spreading to other industries as well. Mayer’s policy change feels like a big step backwards. Let’s see if she can prove me wrong with stronger innovation and better overall performance in the coming quarters and years.
2. Andrew Mason can joke about anything
Digital coupon wrangler Groupon delivered another terrible quarter this week, after which founder and CEO Andrew Mason made a quick exit.
So far, so expected. Mason has long been a liability to the company he founded, and Groupon’s rebate management operations never struck me as a great business plan anyway. But he did not go gentle into that …read more
Source: FULL ARTICLE at DailyFinance
By GuruFocus, Contributor Daniel Loeb reduced his position in largest holding Yahoo Inc. (YHOO) by 15.07% on Feb. 1, 2012, according to GuruFocus Real Time Picks. After the sale, he owns 62,000,000 shares. The founder of hedge fund Third Point LLC began building his 6.17% Yahoo stake in the third quarter of 2011 when the price averaged about $14 per share. Loeb chose to trim the position after a strong rally in the stock, implying he may believe its current three-year high share price is near its intrinsic value.
Source: FULL ARTICLE at Forbes Latest