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Video rental company Blockbuster posted a second quarter loss of $44.7 million, or 23 cents per share, compared to an 18 cent-per-share loss in the year-ago quarter. But, thanks to improved sales the company raised its outlook, predicting a profit of between $21 million and $36 million for the whole year.
The company is recounting the shareholder vote for its board of directors after discovering that a tabulating firm failed to register the opposition of a major investor.
Biotechnology company ImClone Systems said on Monday that a $60-per-share takeover bid from partner Bristol-Myers Squibb was too low, but it would hire financial advisers to help it study the unsolicited offer.
The jobs data is the make or break number for markets Friday. The monthly data, reported at 8:30 a.m., is expected to show a decline of 75,000 non-farm payrolls and an unemployment rate of 5.5%.
Investor Carl Icahn, who ran a heated proxy battle to unseat the Yahoo board and oust its chief executive, said he will not be attending the Internet company's annual meeting Friday.
Sure the company and its nemesis, Carl Icahn, have joined forces so that bitter proxy contest could be eliminated. But that doesn't mean they've pushed their differences aside, or that general shareholder bitterness doesn't remain.
Yahoo has a lot of persuading to do Friday. At its annual meeting, Yahoo will have to show frustrated shareholders how it plans to move forward in the wake of dead-end buyout talks Microsoft. This against the background of Carl Icahn on its board and the sale of T. Boone Pickens Yahoo stake ahead of the meeting.
In all the seven seas, there is no bigger whale than Carl Icahn. Should you trade in his wake?
The company holds to its 2008 outlook, despite a drop in second-quarter earnings. and says it is will continue to look at possible transactions, says CEO Jerry Yang.
Now that Carl Icahn is on the board what’s the trade ahead of Yahoo! earnings Tuesday after the bell?
The analysts I'm talking to this morning seem to indicate that Yang really had no choice but to get this ugliness with Icahn settled prior to the shareholder meeting. If there's frustration out there, it's that Yahoo's board couldn't come up with a way to get this settled earlier than two weeks before the meeting.
Yahoo has reached a settlement with activist investor Carl Icahn to avoid a battle for control of the company.
Yahoo said on Thursday billionaire Carl Icahn's agenda presents a "significant risk" to the value of Yahoo stock, and that it would only sell itself to Microsoft under the right terms.
Yahoo - and Mr. Yang’s fate - were Topic A at the annual billionaires’ summer camp, as rival moguls gossiped about whether Yahoo would end up in the hands of Microsoft.
Yahoo said Saturday night that it had rejected a renewed proposal by Microsoft, together with the activist investor Carl C. Icahn, to buy the Internet company’s search business.
Cramer declared Carl Icahn as the winner against management in the Yahoo saga, and sees the Lehman report on Fannie Mae and Freddie Mac writedowns as a “Plea for Forbearance” during Monday’s Stop Trading!.
The plot thickens, the noose tightens, and when it comes to Yahoo and Microsoft, the "Little Merger That Couldn't," shareholders this morning, trying to climb this hill, are probably saying "I think 'I-cahn, I think 'I-cahn.'"
Dipping below $20 a share today is the clearest sign yet that Yahoo's strategies and messages don't seem to be resonating. And worse, some shareholders don't think they ever will.
Yahoo sought to rally shareholder support for its board of directors and management amid a proxy battle with billionaire Carl Icahn, saying the investor had outlined an "ill-defined plan" for the future of the Internet company.
Wall Street's bears have a serious grip on the stock market, a hold that can only add to volatility in the week ahead.