Wednesday, November 19, 2008
Steve Bomb-mer Drops Another One on Yahoo, Whose Shares Tank to $9, as Microsoft Settles on Digital Head Pick
At least Yahoo got one day of stock euphoria, on the news that its CEO Jerry Yang was stepping down, before Microsoft CEO Steve Ballmer dropped yet another bomb on the troubled Internet giant by saying once more with feeling that he is not at all interested in buying it.
Yahoo shares plummeted on the news, dropping below $10 a share to close at $9.14, down $2.41 or an astonishing 21 percent.
While lack of interest in acquiring Yahoo is a sentiment that Ballmer has expressed more times than Alaska Gov. Sarah Palin said “maverick” in the presidential campaign, Wall Street continues to hold out hope that Microsoft might swoop in and make a new bid for all of Yahoo.
It will not. Let’s repeat. It. Will. Not.





