April 7, 2004 |
Schwab Soundview analyst Jordan Rohan cut his rating on Yahoo Inc. to "neutral" from "outperform" out of concern that Yahoo Japan was overpriced. Trading at 87 times earnings, excluding certain costs, Yahoo Japan is the world's most expensive Web stock, Rohan said. Yahoo owns 34% of Yahoo Japan, and it could suffer if shares of the Japanese unit tumble, he said. Yahoo shares fell $1.22 to $48.77 on Nasdaq. Sunnyvale, Calif.-based Yahoo reports first-quarter earnings today.
August 27, 2011 |
Japanese telecommunications company Softbank said Friday that it would sell almost all its 4% stake in Yahoo Inc. to repay a loan of about $1.1 billion to Citibank. Softbank said it would transfer the shares to Citibank to pay off the loan, which it took out in 2004. However, Yahoo shares have fallen about 45% since then, meaning the market value of the stake is now closer to $660 million. Softbank said the transaction was provided for under the agreement by which it obtained the loan, allowing it to repay either in cash or Yahoo shares.
March 16, 2000 |
Launch Media, the Santa Monica Internet music company, is expanding to Japan through a partnership to be announced today with two Internet heavyweights. Softbank Publishing, a subsidiary of Japanese Internet investor Softbank Corp., and Yahoo Japan will join Launch in creating a joint venture called Launch Japan, a music Web site with songs and editorial content in Japanese. Softbank Publishing will own 50% of the new company, while Launch will have a 30% stake and Yahoo Japan will own 10%.
April 16, 2013 |
SAN FRANCISCO - Yahoo Inc.'s first-quarter earnings report was seen by some as an early test of Marissa Mayer's ability to turn around the troubled Internet company. Investors now seem to be worried Mayer might not pass that test. Shares that have surged more than 50% since Mayer took over Yahoo in July plunged more than 4% to $22.78 in extended trading Tuesday after the company reported that its display advertising business had suffered declining revenue for the second straight quarter.
August 11, 2005 |
Yahoo Inc. said late Wednesday that it would pay $1 billion in cash for a 40% stake in Alibaba.com, one of China's biggest Internet companies, establishing China as the newest front in the war among online giants. Yahoo said it would merge its Chinese operations with Alibaba, which offers a search engine, e-commerce site, online auctions and online payments. The new company would be led by Alibaba Chief Executive Jack Ma and would do business under the Yahoo name.
August 14, 2008 |
EBay Inc. said Wednesday that it was involved in talks to buy a minority stake in the South Korean online marketplace operator Gmarket Inc. The discussions are with Interpark Corp. and its chairman, Ki Hyung Lee, who own a combined 37% of Gmarket. Yahoo Inc. also owns a stake in Gmarket. A purchase would mark EBay's latest move to capture the online auction market outside the United States. The company says more than half of its revenue already comes from abroad.