Shares of Yahoo YHOO are slightly lower following a Wall Street Journal report that states Yahoo is looking to implement a turnaround plan in response to pressure from Starboard Value LP.
CEO Melissa Mayer will likely implement cost-cutting and look for acquisitions, according to the Wall Street Journal. Yahoo may look to acquire a large technology startup with some of the $5.8 billion it made from its stake in the IPO of Alibaba BABA. With revenue growth slowing at Yahoo, a big acquisition could be a new source of non-organic growth for Yahoo.
Shares of YHOO are currently up 0.13 percent at 38.50.
Shares of BABA are higher by 0.82 percent at 88.63
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in