Yahoo feels wrath of Wall Street
Seattle PI | at | by Mike
Wall Street punished Yahoo on Monday for Microsoft's withdrawal of its acquisition bid, as each company began to move toward an uncertain future, independent of the other.
On the first business day since Microsoft's surprise move, Yahoo's shares fell more than 15 percent, giving back a big chunk of the value they gained after the Jan. 31 bid. Yahoo Chief Executive Jerry Yang sought to address shareholder criticism and dispel the notion that the company was to blame for Microsoft's decision to walk away.