Struggling Web firm Yahoo saw its stock price dip on Monday in the wake of two investment bank downgrades, now that China Internet giant Alibaba is no longer serving as a stock price booster for the Sunnyvale, Calif.-based company. But Yahoo also netted three price target increases. Yahoo (YHOO) stock was down 5% in afternoon trading on the stock market today, near 39. Yahoo hit a 14-year high of 44 on Sept. 15 as investors eagerly awaited
In the biggest roadshow since Jay-Z went on tour with Beyonce, Chinese e-commerce giant Alibaba Group is expected to storm the world’s financial centers next week to sell what could be the biggest U.S. IPO ever. Alibaba is expected to start trading on or about Sept. 19, according to media reports. Its IPO could raise $20 billion or more, topping Visa (V) and Facebook (FB) as the largest U.S. new issue ever. Among the top selling shareholders will be Yahoo (YHOO), which has a 22.4% stake in Alibaba. Alibaba will trade on the New York Stock Exchange under the ticker BABA. Alibaba reportedly will start its nearly two-week IPO roadshow on Monday and will pitch investors in North America, Europe and Asia. The roadshow is a series of meetings between Alibaba management and large institutional investors such as mutual funds and pension funds. Alibaba executives will review the company’s financials…
Yahoo (YHOO) is having a tough time sparking growth in its search advertising business, which again showed slower user-click growth in Q2. Users of Yahoo products clicked about 3% more search advertisements in Q2 than they had in the year-earlier quarter, the Sunnyvale, Calif.-based company said this month. That’s down from 6% growth in Q1, 17% in Q4 and 21% in Q3. Still, Yahoo’s search engine is one of the four “core strengths” at Yahoo, said