Editor’s Note: Yahoo! Inc. (NASDAQ:YHOO), Google Inc (NASDAQ:GOOG), Facebook Inc (NASDAQ:FB)
Yahoo Buys Tumblr for $1.1 Billion in Mayer’s Biggest Deal (BusinessWeek)
Yahoo! Inc. (NASDAQ:YHOO) is buying blogging network Tumblr Inc. for about $1.1 billion as Chief Executive Officer Marissa Mayer seeks to lure users and advertisers with her priciest acquisition to date. …Mayer, CEO of the biggest U.S. Web portal since July, is betting that Tumblr will help transform Yahoo! Inc. (NASDAQ:YHOO) into a hip destination in the era of social networking as she challenges Google Inc (NASDAQ:GOOG) and Facebook Inc (NASDAQ:FB) in the $17.7 billion display ad market. The price she’s paying — about a fifth of Yahoo! Inc. (NASDAQ:YHOO)’s $5.4 billion in cash — underscores the deal’s importance to Mayer’s turnaround effort, according to Zachary Reiss-Davis, an analyst at Forrester Research Inc.
Yahoo! Receives “Hold” Rating from Jefferies Group (YHOO) (MideastTime)
Yahoo! Inc. (NASDAQ:YHOO)’s stock had its “hold” rating reiterated by investment analysts at Jefferies Group in a note issued to investors on Monday, StockRatingsNetwork reports. They currently have a $24.00 target price on the stock. Yahoo! Inc. (NASDAQ:YHOO) traded up 0.04% on Monday, hitting $26.53. Yahoo! Inc. (NASDAQ:YHOO) has a 52-week low of $14.59 and a 52-week high of $24.99. The stock’s 50-day moving average is currently $23.2. The company has a market cap of $28.722 billion and a price-to-earnings ratio of 7.70.
22 million user IDs may have been stolen from Yahoo Japan (Infosecurity-Magazine)
Yahoo! Inc. (NASDAQ:YHOO) Japan, 35.5% owned by Japan’s mobile phone operator SoftBank and 34.7% owned by Yahoo! Inc. (NASDAQ:YHOO), announced Friday that it may have lost 22 million user IDs from its total of around 200 million. Yahoo! Inc. (NASDAQ:YHOO) Japan engineers detected an unauthorized attempt to access the administrative system of its web portal late on Thursday, reports the Kyodo news agency (subscription required). “We don’t know if the file (of 22 million user IDs) was leaked or not, but we can’t deny the possibility,” said Yahoo! Inc. (NASDAQ:YHOO) Japan in a statement on Friday.
Plaintiffs in Mexico Yahoo case say will appeal court ruling (Yahoo)
Two Mexican firms embroiled in a contractual dispute with Yahoo! Inc. (NASDAQ:YHOO) will appeal a court ruling that overturned an earlier $2.75 billion judgment in their favor, a director of the companies said on Friday. Yahoo! Inc. (NASDAQ:YHOO) announced the decision by the Mexican appellate court on Thursday. Both Worldwide Directories S.A. de C.V. and Ideas Interactivas S.A. de C.V. will contest the ruling, said Carlos Bazan-Canabal, a director at the companies.
Wall Street little changed, deals provide support (4-Traders)
Deals including Yahoo! Inc. (NASDAQ:YHOO)’s $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions, a bullish sign for stocks. Yahoo! Inc. (NASDAQ:YHOO) was up 0.8 percent at $26.73. The S&P 500 and Dow industrials finished Friday at fresh record highs and the Nasdaq Composite is at its highest since late 2000. A light economic and earnings calendar could leave the market vulnerable for a pullback, but those have been shallow and short-lived as investors take any weakness as a new chance to increase long positions. On Monday, the S&P 500 notched a new intra-day high at 1,668.70.
