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Internet Opportunities Thread About, Yahoo board approves plans |
Yahoo board approves plans for buying back up to $3 billion worth of shares (AP) 04:53:20 AM (ET), Sunday, July ...
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Internet Opportunities Thread About, Yahoo board approves plans |
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07-04-2010, 03:23 AM
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Yahoo board approves plans
Yahoo board approves plans for buying back up to $3 billion worth of shares
(AP) 04:53:20 AM (ET), Sunday, July 4, 2010 (NEW YORK) The board of Yahoo Inc. has approved plans to repurchase up to $3 billion in stock over the next three years. The Internet company bought back $385 million in stock in the first quarter. That's more than Yahoo spent on share buybacks in 2008 and 2009 combined. The new buybacks, disclosed in a regulatory filing Wednesday, are one way for the Sunnyvale, Calif., company to signal confidence in its stock, Caris & Co. analyst Sandeep Aggarwal says in a note. Aggarwal says its shares are likely to get a lift over the next year. He adds the online display ad market is recovering from the recession and Yahoo's search engine deal with Microsoft Corp. will help cut costs. -------------------------------------------------------------------------------- * A strategic move no doubt. *
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