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Yahoo (NASDAQ:YHOO) down -10% before expected Google (NASDAQ:GOOG) announcement

Posted June 12, 2008

Baltimore — (TFN): Yahoo (NASDAQ:YHOO) announced it has ended all talks about a business relationship with Microsoft (NASDAQ:MSFT), who had offered $47.5 billion, or $33 per sharefor the company. Yahoo had insisted on $37 per share.

The market expects the imminent announcement of an advertising partnership between Yahoo and Google (NASDAQ:GOOG).

Given today’s drop in the share price — Yahoo was trading down as much as -13%, closing at $23.52, or -10% over today’s close — and further declines in after-hours trading, we’re hesitant recommending YHOO shares for a potential rebound play by Monday.

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