Yahoo (YHOO) is now under pressure from a major investor, which initially urged the Web portal to spin off its stake in China e-commerce giant Alibaba Group (BABA), to instead call off that deal and sell Yahoo’s ailing core Internet search business. “The proposed spinoff of Aabaco Holdings is not Yahoo’s best alternative,” activist investor Starboard Value said in a letter to Yahoo CEO Marissa Mayer and Yahoo Chairman Maynard Webb on Thursday. The
Consumer electronics retailer Best Buy (BBY) sank Thursday after posting mixed fiscal 2016 third-quarter results and giving disappointing holiday sales guidance. The Richfield, Minn.-based company earned 41 cents a share excluding items on sales of $8.82 billion for the quarter ended Oct. 31. Analysts polled by Thomson Reuters had expected Best Buy to earn 35 cents a share on sales of $8.84 billion. On a year-over-year basis, earnings per share
Ctrip.com (CTRP), one of China’s leading online travel agencies, handily beat Wall Street estimates in Q3, sending the stock soaring today. Third-quarter revenue jumped 49% to $501 million from $347 million a year earlier, ahead of analyst estimates for $490 million. Earnings per American Depositary Share skyrocketed to $2.09 on a GAAP diluted basis from 22 cents a year earlier, vs. the 8-cent consensus expectation of analysts polled by Thomson