Bill Gates to dealmakers: cool your heels.
With its multibillion-dollar Yahoo merger bid yanked from the table, the Microsoft chairman said in a Tokyo press conference on Wednesday that the software giant has no immediate plans to jump on another deal, according to an Associated Press report.
"At this point, Microsoft is focused on its independent strategy," Gates said during the press conference.
The Microsoft founder recounted how the Redmond giant had spent a lot of energy on trying to wrap up a deal with Yahoo, but it ultimately decided that it was better to leave it behind. … Read more
Editors note: This post was updated Tuesday, May 6, at 2:16 p.m. PDT to reflect the market's close.
Yahoo shares broke through the low zone Tuesday, reaching as high as $26.25 to exceed the lowest level the shares were trading during the three-month period when Microsoft still had its buyout offer on the table.
But by the end of the regular trading day, Yahoo closed up 5.54 percent to $25.72 a share.
The "Oscars of the Internet," presented by a consortium of technology, media, and entertainment hotshots known as the International Academy of Digital Arts and Sciences, announced their winners and honorees on Tuesday. This year's Webbys will be presented next month as part of Internet Week New York.
Colbert received the Person of the Year accolade for his reputation as a digital buccaneer of … Read more
China Mobile has opened a wireless service center and Internet cafe at an altitude of 17,000 feet at the Everest base camp, making it the world's highest such site, according to People's Daily Online.According to reports, the Internet cafe is aiming to effectively protect the Olympic torch relay teams' communications needs at Mount Qomolangma in Tibet. China Mobile has built a business office and Internet cafe at an altitude of 5,200 meters at Mount Qomolangma base camp to provide mobile services and Internet services to government officials, mountain climbing members and journalists.
Maybe they'll … Read more
Yahoo announced late Monday night it will hold its annual shareholders meeting on July 3, setting the time clock ticking for shareholders to nominate any dissident directors within the next 10 days.
Yahoo's decision to set the date for its shareholders meeting comes just days after Microsoft withdrew its unsolicited $33-a-share buyout bid for the Internet search pioneer and on the same day its shares took a beating, in light of the withdrawn bid
Yahoo's shares weren't the only thing to take a beating Monday, following Microsoft's megabillion buyout pullout.
Turns out a fifth of analysts who follow Yahoo changed their recommendations on Monday--all to a "sell" or "strong sell," according to Thomson Reuters.
The downgrades come as Yahoo ended the day at $24.37 per share, down 15 percent from its close on Friday.
Seven analysts changed their recommendations, and here's the score:
- 3 were updated to "strong sells" from "strong buys"
- 3 were updated to "sell" … Read more
The Oracle of Omaha, Warren Buffett, admittedly knows little about tech--but deal-making, yes.
And in commenting in a CNBC interview, Buffet, the investment guru of Berkshire Hathaway, had this general observation about deal-making, in light of Microsoft's walk-away from its unsolicited Yahoo bid:
"When you hit your choking point, you quit," he noted.
"I've walked away from deals before and meant it. I walked away from the See's (Candies) deal. They wanted $30 million, and we offered $25 million. We walked away and, fortunately for us, they walked after us," he said.
Wonder … Read more
This post was updated at 1:45 p.m. PDT with updated information following the market's close:
Yahoo's shares took a hammering early Monday morning. But by the market's close, a badly beaten, but not mortally wounded, Yahoo ended the day down 15 percent at $24.37 a share.
Microsoft closed out the session at $29.08, down 0.55 percent.
This blog was also updated at 9:50 a.m. PDT.:
Yahoo shares fought back some of their losses in late morning trading, reaching $24.70 a share, down 13.85 percent from Friday's close. … Read more
Now that Microsoft has withdrawn its unsolicited buyout bid, Yahoo investors who are outraged and seeking to extract some pain may gear up to engage in several actions, ranging from gunning for a board seat to voting "against" re-electing the company's slate, say proxy solicitors and M&A attorneys.
Eric Jackson, a Yahoo shareholder activist, falls into both camps. On Sunday, Jackson said he's planning to launch a "withhold vote" campaign and hopes to run for a board seat when Yahoo holds its next annual shareholders meeting.
"I'm definitely interested in … Read more