Yahoo Says IRS Rule Won’t Hurt Alibaba Spinoff

By | May 20, 2015

Scalper1 News

Yahoo (YHOO) stock was up Wednesday after the company responded to a media report on Tuesday by saying a possible Internal Revenue Service rule change would not jeopardize the Web portal’s plan to hold a tax-free spinoff of its shares in China Internet giant Alibaba Group (BABA) . Yahoo was up more than 3.5% in morning trading in the stock market today, near 42.50. Yahoo fell 7.6% Tuesday on a Bloomberg report about comments by a senior technician Scalper1 News

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