Yahoo! Inc. fell the most in almost two years on the Nasdaq after Microsoft Corp. abandoned its $44.6 billion takeover of the Internet search company because executives couldn't agree on a price.
``Yahoo's stock is going to crater, and Yahoo shareholders are going to go bang on everyone's head and say, `How does this benefit me?''' said Richard Williams, an analyst in Short Hills, New Jersey, at Cross Research who advises investors to hold on to Microsoft shares and doesn't own any.
``Yahoo is going to be under a lot of pressure,'' said Peter Falvey, managing director at Boston-based technology-merger adviser Revolution Partners. ``A lot of shareholders are going to say, `Hmm, maybe we overreached.'''
Ballmer and deputy Kevin Johnson met May 3 in Seattle with Yahoo co-founders Yang and David Filo, two people familiar with the talks said. Yang and Filo refused to accept less than $37 a share and flew back to California.
``To say we are disappointed is an understatement,'' William Morrison and Robert Coolbrith at New York-based ThinkPanmure wrote in a report yesterday. Rejecting Microsoft's offer is ``likely to go down as one of the more destructive decisions for shareholder value in the history of Internet stocks.''
On a related note, I can't remember the last time I visited Yahoo for anything.
I still use my.yahoo as my home page, and I use yahoo travel. That's about it, though.
Posted by: geoff | May 05, 2008 at 01:06 PM
Yahoo used to be my main email until my address finally got populated into every spam database. I killed it & switched to gmail---haven't looked back.
Posted by: Cuffy Meigs | May 05, 2008 at 01:28 PM
Yeah, I don't use their email, nor gmail or hotmail for that matter. Never trusted any of them.
Posted by: geoff | May 05, 2008 at 01:59 PM
I use it for a secondary email account that I give out to online merchants so their spam doesn't go on my primary address.
And for you guys. :)
Posted by: Lipstick | May 08, 2008 at 07:53 PM