That’s somewhat ironic, because you have to figure Yahoo shareholders are feeling pretty frosty toward Yahoo’s management now that its stock price is wallowing around $13 , near five-year lows, amid a weakening display advertising outlook.
The road not taken? Microsoft’s offer of $33 a share for Yahoo. That deal died in the summer, before the global banking crisis had reared its ugly head. What was once a $47 billion deal would be worth significantly less today.
Yahoo’s premium display business is getting roughed up by a slow-down by advertisers such as financial companies and automakers, and caution among online advertising customers.
But don’t assume that since Microsoft didnt marry Yahoo, that the software maker doesnt find the online search giant, you know, attractive. American Technology Research analyst Rob Sanderson says Microsoft may make a new offer “as Yahoo shares decline and Microsoft struggles in its online services business.”
Keep an eye on:
Wachovia Securities cut its outlook for advertising spending and said the worsening outlook would mean lower-than-expected earnings and revenue for Interpublic Group of Companies Inc, Omnicom Group Inc, and MDC Partners (Reuters)
Google is making an aggressive play in the online gaming world, as the search giant announced it will expand its AdSense product to various Web-based gaming sites and platforms (Hollywood Reporter)