Yahoo shares rise on takeover report
Investors are running up the price of Yahoo shares after a report saying AOL and a group of private equity firms may bid for the Web company.
The stock climbed $1.19, or about 8 percent, to $16.44 in morning trading Thursday.
The Wall Street Journal reported on its website after the close of trading Wednesday that AOL Inc., Silver Lake Partners and Blackstone Group LP are exploring a bid. The report says two or three other firms could also be interested in the deal.
The newspaper says the talks have not yet involved Yahoo.
AOL Inc. and Yahoo Inc. have declined to comment.
A deal would marry two companies that haven't been able to improve their financial performance amid relentless competition from other online destinations like Google, Facebook and Twitter.
Stocks edged lower Thursday after another disappointing report on jobs. But losses were limited because traders expect the Federal Reserve will act soon to strengthen the economy.
The Dow Jones industrial average fell 10 points in morning trading. In recent months, a disappointing weekly jobs report would have likely led to a big sell-off in stocks. However losses have been limited following weak economic reports recently because such weakness supports expectations the Fed will step in to support growth.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
