Monday, May 5, 2008

Yahoo! Meltdown Monday? YHOO before the bell

Ex-Googler and co-founder Paul Buchheit posed the question on Friendfeed Saturday night: "Any bets on where YHOO opens on Monday?".

About 20 of us chimed in. I speculated $19. Steven Hodson of WinExtra went for $15 as did a few others. MG Siegler of Venture Beat (better known to some as Paris Lemon) looks like he may have won the pool (so far) with his guess at $22.

At 5 AM EST, Yahoo! (NASDAQ: YHOO) was bid at 22.75 in extended hours trading, down 5.92 from Friday's close.

Looking to put any fears to rest, Yahoo CEO Jerry Yang posted this message to the Yahoo Corporate Blog on Sunday to explain why he acted (in almost every way possible) to keep the company from being acquired by Microsoft.

Microsoft (NASDAQ: MSFT) stockholders appear to be showing support for CEO Steve Ballmer's decision (relief?) with pre-market up almost 5% from Friday to $30.50.

Google (NASDAQ:GOOG) also appears to be headed for a higher opening, up about 3 1/2 per cent in pre-market activity.

Update 1: In very heavy volume, shares in YHOO were at 23.25 (at 9:45 AM EST). You can watch the 15-minute delayed ticker here

Update 2: OK, Paul wins. I'm not totally convinced this deal is over yet ... but on to other stuff ... Later :)

PS: Welcome to the new Twitter, FF, and Facebook followers. Fun stuff, huh ?

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