Connect to share and comment

Firing pays off for former Yahoo chief operating officer who gets $58 million in severance pay

SAN FRANCISCO - Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job. The disclosure in a regulatory filing Wednesday may lead to more second-guessing about Yahoo CEO Marissa Mayer's decision to hire de Castro as her second-in-command in October 2012. Mayer dumped de Castro in January after concluding he wasn't executing on her plan for reviving Yahoo's lacklustre ad growth. De Castro had been in charge of ad sales.

Weibo valued at $3.46 billion after bottom-end IPO pricing

(Reuters) - China's Weibo Corp will be valued at a lower-than-expected $3.46 billion when it goes public on the Nasdaq on Thursday, amidst concerns about the microblogging service's slowing user growth and the country's highly censored media environment. The Twitter-like microblogging service, owned by web portal Sina Corp, sold 16.8 million American Depositary Shares (ADSs) for $17 apiece, raising $285.6 million, an underwriter told Reuters. The company had planned to sell 20 million ADSs at between $17 and $19 per share.

Google misses revenue target, ad prices slide

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, underscoring the challenges Internet companies face as the world shifts toward mobile devices. Shares of Google were down 3 percent to $539.80 in afterhours trading on Wednesday, after initially sliding roughly 6 percent on the news.

King, SodaStream, Google, CSX and Bank of America big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE King Digital Entertainment Plc, up 60 cents to $18.03 The maker of the "Candy Crush" is partnering with China's messaging giant Tencent to showcase its hugely popular game. Yelp Inc., up $2.74 to $65.80 Citigroup upgraded the online reviews site after a share pullback, saying it sees the company well positioned for growth in mobile devices. Bank of America Corp., down 26 cents to $16.13

Yahoo's growth anemic as turnaround chugs along

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc <YHOO.O> again posted anemic quarterly revenue growth as the Internet company's advertising business continues to lag its rivals, nearly two years into Chief Executive Officer Marissa Mayer's comeback effort.

Yahoo shares jump as Alibaba's revenue surges ahead of IPO

By Saqib Iqbal Ahmed (Reuters) - Yahoo Inc's shares rose as much as 9 percent in heavy trading on Wednesday, a day after Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, reported a surge in quarterly revenue. At least nine brokerages raised their price targets on Yahoo's shares ahead of Alibaba's IPO filing, expected next week. The share, up 5.5 percent at $36.10 in early trading, was the most heavily traded stock on the Nasdaq.

Alibaba steals Yahoo's thunder ahead of IPO

If Yahoo appears back in favor, it can thank Alibaba, the Chinese Web giant in which it holds a big stake and which is set for a public stock offering. Yahoo shares soared 7.3 percent to $36.71 at the opening Wednesday on the heels of a better-than-expected quarterly report, but some were more focused on the Alibaba financial results buried in the document. "The salient point of Yahoo's first quarter results was the very strong December quarter results from Alibaba," said Jordan Rohan, analyst at the brokerage Stifel.

Twitter rules out Turkey office amid tax row

Social networking company Twitter on Wednesday rejected demands from the Turkish government to open an office there, following accusations of tax evasion and a two-week ban on the service. Speaking after two days of closed-door talks with Turkish officials, Colin Crowell, Twitter's head of global public policy, told AFP: "We did not agree on opening an office in Turkey." "Making greater investments here to grow our business has a relationship to whether or not we can count on the continuity of our service," he said.

Yahoo sees flat second quarter as revenue growth remains elusive

SAN FRANCISCO (Reuters) - Yahoo Inc on Tuesday forecast second-quarter revenue, excluding traffic acquisition costs, of $1.06 billion to $1.1 billion, in line with expectations for about $1.08 billion. That is roughly flat from the $1.07 billion in revenue that Yahoo posted in the same quarter of 2013. (Reporting by Alexei Oreskovic. Editing by Andre Grenon)

Tech giants look to skies to spread Internet

The shortest path to the Internet for some remote corners of the world may be through the skies. That is the message from US tech giants seeking to spread the online gospel to hard-to-reach regions. Google took a step in that direction this week with the acquisition of Titan Aerospace, a maker of solar-powered drones that can help boost Internet access to remote areas.
Syndicate content