Scalper1 News
Yahoo (YHOO) received at least two price target cuts Wednesday following news that the Web portal’s planned tax-free spinoff of its remaining stake in Alibaba Group (BABA) could be in peril. The cuts came after the Internal Revenue Service said Tuesday that it won’t grant Yahoo’s request for a ruling saying the spinoff meets the agency’s active trade or business requirement. Both Alibaba and Yahoo shares were rising as of early afternoon in the Scalper1 News
Scalper1 News