October 21, 2008
Yahoo! will issue what is widely expected to be a poor 3rd quarter report this afternoon. Along with their quarterly financial report, Yahoo! is also expected to announce at least 1000 job cuts internationally. It has been a tough year for Yahoo!. A six month battle to keep Microsoft from buying the company at nearly 3X current share values left Yahoo!'s reputation and moral in tatters. The last minute ad distribution deal with Google has placed Yahoo! in an even more precarious position with its fate in the hands of a congressional anti-trust committee with a fresh penchant for regulations. There might be bright days in Yahoo!'s future however. Rumors of a potential take-over of AOL persist and the newly consituted board of directors is thought to have some fight left in it. Today is not likely to be one of Yahoo!'s best days though. Share values are down 1.72% in early trading, sitting at $12.64/share at 11am Eastern. Just over one year ago, Yahoo! hit a 52-week high, trading at $34.08/share. Yahoo! will be holding a conference call and webcast to report its 3rd quarter results at 11AM eastern today.