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To: GST who wrote (146448)	8/29/2002 1:00:25 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Once the darling of Japan's Internet bubble, Softbank has been looking to reduce its debt and raise money for "Yahoo BB", which it launched with Yahoo Japan Corp (4689.Q) in September. Yhoo last trade was $9.13 because of the lack of online advertising.

To: GST who wrote (146448)	8/29/2002 9:39:00 AM
From: H James Morris	Respond to of 164684

Merrill Lynch upgrades YHOO. 08/29/2002 09:32 Yahoo shares are up 7 percent to $9.80 in early trades on the Nasdaq amid an analyst upgrade and a move by the Internet firrm to buy $100 million of its stock from Softbank. Merrill Lynch analyst Justin Baldauf raised his rating on Yahoo to "neutral" from "sell" based on valuation. Softbank, Yahoo's largest shareholder, sold 30 million shares of the stock on Wednesday. Meanwhile, Yahoo, in a separate transaction, bought back 11.07 million shares, or about $100 million worth, from Softbank. In a note to investors, Baldauf said a 15 percent slide in Yahoo shares on Wednesday is making the stock more attractive. "Our upgrade is based on valuation alone and does not reflect a revised assessment of fundamentals," he said in a note to investors.