6.9 C
New York
Friday, March 29, 2024

Yahoo Down 5%; Analysts Trim Outlook Following Q2 Miss

Courtesy of Benzinga.

Related YHOO
Trulia Competitors Move Higher Due To Zillow Speculation
Benzinga's M&A Chatter for Wednesday July 23, 2014
Publicis, Omnicom See Mixed Results After Merger Flop (Fox Business)

Yahoo (NASDAQ: YHOO) was trading down over five percent Wednesday after analysts trimmed their outlooks in light of disappointing second-quarter results.

CRT Capital downgraded Yahoo to Fair Value and cut its price target from $41 to $38 per share.

BMO Capital Markets and JP Morgan each reiterated Market Perform ratings.

JP Morgan cut its 2014 earnings estimate from $1.56 to $1.15, while Macquarie maintained an Outperform rating with a $40 target.

Yahoo late Tuesday posted earnings of $0.37 per share, a penny below expectations. Revenue fell about 4.5 percent from a year earlier.

"We are not satisfied with our Q2 results," Yahoo CEO Marissa Mayer said in a statement.

Yahoo said it reduced the number of shares it must sell in Alibaba's initial public offering from 208 million to 140 million shares. Yahoo will retain an 18 percent stake in Alibaba following the offering.

At least half the proceeds from sale of the 140 million shares will be used in a stock repurchase plan, Yahoo said Wednesday.

Shares recently traded at $33.81, down 5.03 percent.

Posted-In: BMO Capital CRT Capital JP MorganEarnings News Guidance Buybacks Analyst Ratings

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x