Microsoft Cuts its Ties With Yahoo, Deal Off
Posted by Blain Reinkensmeyer
May 5, 2008 at 1:10 pm
The facts are now clear, Microsoft (MSFT) has officially withdrawn its bid for Yahoo (YHOO). The news was released over the weekend after the market close which has caused a stir today with Yahoo stock reacting in a big way.
Yahoo stock is down over 13% to $24.84 in midday trading after falling as low as $22.97 this morning. Microsoft stock on the other hand hasn’t had much price action with the stock up only .68% to $29.44 currently.
I was watching a interview of Warren Buffett of Berkshire Hathaway (BRKA) earlier today and one thing he said was, “sometimes you just have to walk away.” In this case Jerry Yang of YHOO is convinced that his company is worth more then what Steve Ballmer of MSFT is willing to offer.
The news has indirectly helped Google (GOOG) stock move up over 2% as talks of Google making an advertising agreement with Yahoo are now likely to commence. Below I have stock charts of both Yahoo and Microsoft.
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YAHOO AND ITS LEADERSHIP ARE ABSOLUTELY RETARDED FOR NOT TAKING THAT DEAL…
[...] day for the market as Yahoo tanked after Microsoft retracted its bid and oil broke back above $120 a [...]
That’s too bad for Yahoo. Their technology is far behind Google and is obvious they can’t do more on their own, so a deal with MSN was the good thing to do in my opinion.
agreed. I don’t think Yahoo is going anywhere but down from here. I can’t see them making any drastic changes that is going to change the whole scope of their earnings moving forward. Any advertising deal with google simply cannot be enough.