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Web search firm Yahoo late Tuesday, bowing to shareholder pressure, announced a tax-free spinoff of its 15% stake in China e-commerce leader Alibaba Group, rallying its stock despite another quarterly decline in sales and earnings. In a conference call with analysts following the earnings release, Yahoo (YHOO) CEO Marissa Mayer called the spinoff of the Alibaba (BABA) shares a “historic” undertaking. But activist investor Starboard Value, and Scalper1 News
Scalper1 News