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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (32629)	3/7/2001 2:33:20 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

Investors on Edge Awaiting Yahoo! News Wednesday March 7, 2:01 pm Eastern Time By Andrea Orr <<PALO ALTO, Calif. (Reuters) - Trading in Internet media company Yahoo Inc. (NasdaqNM:YHOO - news) was halted on Wednesday as investors awaited a company announcement, with speculation ranging from a possible earnings warning to an acquisition, a partnership or a management shake-up. The shares were halted soon after Nasdaq opened on Wednesday because of ``news pending.'' Yahoo declined to comment on the nature of its announcement, set for 2 p.m. (5 p.m. EST). Yahoo's stock last traded at $21, down 1-3/8 on the day before it was halted. The shares are nearly 90 percent off their 52-week high of $205-5/8. There was no shortage of speculation, however. Like most Internet media businesses, Yahoo has seen its stock price collapse in recent months while facing a tougher market for online advertising, the biggest source of its revenues. Because the online advertising market continues to deteriorate, some analysts speculated Yahoo could be about to lower earnings or revenue guidance like so many of its peer companies have done. However, they said it would be unusual for such a routine announcement to be delayed for so long. Four hours after the stock was halted, investors were still awaiting word from the company. ``We're all in suspense,'' said Safa Rashtchy, an Internet media analyst for U.S. Bancorp Piper Jaffray. ``I think a pre-announcement (about financial results) is pretty likely, although that shouldn't take this long to be released.'' Another possibility was that Yahoo would announce some kind of acquisition or partnership, he said. Speculation also remained strong that Yahoo could be about to announce some changes in its management structure. The company has recently lost a number of top managers in its overseas operations and there have long been rumors that one or more of its top U.S. executives could be readying to leave, As Yahoo transitions from a company deriving business from other dot-com companies to one that must court the largest corporations, some analysts have said it would need to bring in more experienced management. Some sources speculate that one of the most likely candidates to announce a departure was Yahoo President Jeff Mallet, one of the company's earliest hires. ``If I had to guess who was likely to leave, I would guess Mallet,'' said an analyst who asked not to be identified. ``He's extremely intelligent and capable, but at this point they may need more seasoned management.''>>