Yahoo Can't Backup Street's Recent Enthusiasm
Yahoo reported first quarter earnings last evening and while the numbers (at least the top line) was consistent with the company's previous guidance, investors and analysts were disappointed with what they considered to be an underwhelming quarter and in turn, they have sent the stock down over 11%. Yahoo had a disappointing 2006 during which profit warnings and sub-par quarterly reports became the norm for it as it demonstrated that it was clearly being outclassed by its more heralded rival. So then why was Yahoo's stock rallying earlier this year (up from $26.96 in mid-Jan to $32.09 yesterday before the earnings announcement) and is the market overreacting today?
Yahoo! (YHOO) Stock Research - Stock Quotes, Charts, News and Analysis
