Yahoo! Shares Halted on Expected News
Mar 7 10:27am ET
LOS ANGELES (Reuters) - Shares of Internet portal Yahoo
Inc. fell sharply early Wednesday before trading was
halted on the Nasdaq due to news pending.
Prior to the stock's halt, shares of Yahoo had fallen
$1-13/32, or 6.3 percent, to $20-31/32, their lowest
level since September 1998.
The company was not immediately available for comment.
Merrill Lynch analyst Henry Blodget, once one of
the biggest Internet bulls, questioned the company's
decision to cancel its appearance at the brokerage's
Internet Conference later in the week.
In a report on Yahoo, he suggested the company was
planning to give guidance on its earnings or announce a
restructuring, its intention to acquire another company,
it is entering into a strategic investment or it is making
a major management change.
The First Call/Thomson Financial consensus analyst
estimate for Yahoo's first quarter is 5 cents.
Besides Blodget's report, there was no indication that
the news release would be about earnings
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Question why isn't this scum Henry Blodget
in jail? This is the same guy who made wild price
projections for AMZN, lining his own pockets w.
15 mill last yr, while using his analyst's pulpit
to preach to the naive and get them to invest in
stuff already overvalued.
Now re: YHOO, he "suggested" based on what?
Inside information? |
