Yahoo will begin the layoffs it announced in October, with the goal of cutting its workforce by 1400 workers (10%).
"SAN FRANCISCO - Yahoo Inc.'s stock rallied Tuesday on a report that AOL's former chief executive believes he can raise enough money in a worsening recession to buy the struggling Internet company for as much as $30 billion. Yahoo shares rose 76 cents, or more than 7 percent, to close at $11.50, reflecting hopes that a new suitor may emerge for the Sunnyvale-based company. The surge left Yahoo with a market value of just under $16 billion." http://tech.yahoo.com/news/ap/20081202/ap_on_hi_te/yahoo_mover_4
In the aftermath of Jerry Yang's announcement that he would step down as CEO of Yahoo!, Steve Balmer said, "Let me be clear, we are down with all acquisition discussions with Yahoo."
Jerry Yang stepped down as CEO today without naming a replacement. Shares shot up in early trading before coming back down later in the day.
"Yahoo’s stock jumped as much as 10 percent on Wednesday morning as rumors flew that it was on the verge of reaching a deal with Microsoft." http://64.233.169.132/search?q=cache:FqHxVz4qD2oJ:dealbook.blogs.nytimes.com/2008/11/05/yahoos-stock-spurts-on-false-rumors/+microsoft+stock+november+5th&hl=en&ct=clnk&cd=2&gl=us
Facing ongoing challenges with government regulators, Google decides to back out of advertising alliance with Yahoo
On October 21, 2008 Yahoo! announced its third fiscal quarter earnings results. The earnings release brought tough news for investors: Earnings fell to $0.03 per share, down 64% from the same quarter in 2007, and Yahoo! announced that at least 1,500 workers (roughly 10% of their work force) would be laid off. The company's bottom line was hurt by a number of one-time charges during the quarter. Without these costs Yahoo executives said the company would have earned $.09 per share, in line with analysts' estimates.
August 1 marks the delayed shareholder's meeting.
On July 22, 2008 Yahoo! released its earning results for the second fiscal quarter. The company's profits fell nearly 18% from the same period in 2007, and were short of analysts' expectations. Shares of Yahoo! were not dramatically affected by the earnings results, losing only 1.25% during regular trading hours, as many investors expected worse from the internet giant.
Carl Icahn gives up his proxy battle and accepts three board seats as a compromise.
After Yahoo refusing to sell at $33 per share, Microsoft decides to call all bids off.
Microsoft proposes $33 a share and yahoo rejects.
On April 22, 2008 Yahoo reported its first quarter earnings. The company reported net revenues of $1.35 billion, beating analyst estimates. Yahoo is still facing a potential buyout by software giant Microsoft.
Yahoo Inc.'s board will reject Microsoft Corp.'s $44.6 billion takeover bid after concluding the unsolicited offer undervalues the slumping Internet pioneer, a person familiar with the situation said Saturday.But by spurning Microsoft, Yahoo risks further alienating shareholders already upset about management missteps that have led to five consecutive quarters of declining profits.The downturn caused Yahoo's stock price to plummet by more than 40 percent, erasing about $20 billion in shareholder wealth, in the three months leading up to Microsoft's bid.
Microsoft proposed a buyout of Yahoo for $44.6 Billion
Yahoo reported a 23% drop in its fourth-quarter profit and provided a tepid outlook for 2008. The company is preparing to lay off as many as 1,000 workers, and it will face increasing pressure to either accept a buyout or make a deal with rival Google to run its search engine and increase ad revenue. The recent drop price accelerates the falling trend for Yahoo!'s stock, which has seen its market value fall over 50% since the end of 2005, obliterating $35 billion in shareholder wealth.
Total revenue of Yahoo increased to $1.77 billion from $1.58 billion. Net sales, excluding payments to other Web sites to acquire traffic, increased to $1.28 billion from $1.12 billion. Analysts had expected Yahoo to post net sales of $1.24 billion. The company recorded $151.3 million, or 11 cents a share, as third-quarter profit, down from $158.5 million or 11 cents a share last year, but exceeded analysts' forecasts of 8 cents a share.
Time period for CEO's 100-day plan
The company announced that Terry Semel would no longer serve as CEO of Yahoo! and would be replaced by one of the firm's founders, Jerry Yang. The stock rose about 4.5% in after hours trading.
Yahoo! reveals plans to launch a Chinese version of Flickr later this year. A photo-sharing site, Flickr will tap into rising enthusiasm from Chinese digital photo enthusiasts.
Dash Navigation, Inc. announces that it will be working with Yahoo! to add wireless Yahoo! Local search capability into their GPS system, Dash Express.
David Stockwell joins Yahoo! as a Media Engineer.
Yahoo! announces that it will be replacing its CFO, and that it will be restructuring the entire company around its three key customer segments.
Chris Lacy-Hulbert joined Yahoo's Frontdoors and Network Services organisation in Europe.
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