During Wednesday’s Morning trade, Shares of Yahoo! Inc .(NASDAQ:YHOO), lost -2.05% to $34.14.
Yahoo! Inc. is a technology company. The company is scrapping its original plan to spin off its prized stake in China’s Alibaba Group and will instead explore breaking off the rest of its business into a new company, according to (latimes)
The change of heart declared Wednesday comes after Yahoo’s board met last week to review the projected Alibaba spinoff, in addition to CEO Marissa Mayer’s stalled attempts to turn around one of the Internet’s best-known companies.
Yahoo Inc. said it now plans to look into how it can spin off all of its other businesses and their liabilities into a new company. That business would be distributed to Yahoo shareholders.
Yahoo Chairman Maynard Webb said in a statement that the company became concerned about the original plan to spin off the Alibaba stake in part because of the market’s perception of tax risk.
The meetings Yahoo held last week comprised a negotiation on whether to heed an activist shareholder’s call for Yahoo to sell the websites, mobile applications and ad services that generate most of its revenue and recast itself to a holding company for its holdings in Alibaba, a rapidly growing e-commerce company, and Yahoo Japan. Latimes Report
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
Shares of Southwestern Energy Company (NYSE:SWN), inclined 0.43% to $7.01, during its current trading session, on Tuesday together with falling oil prices.
Crude oil (WTI) is retreating 0.03% to $37.64 per barrel and Brent crude is decreasing 1.08% to $40.29 per barrel, according to the CNBC.com index.
For the first time since February 2009, Brent was briefly tumbling below $40 a barrel earlier this morning, the Wall Street Journal reports.
Oil futures were declining ahead of the Federal Reserve’s meeting next week. The Fed could raise interest rates which in turn could make the dollar stronger and put pressure on oil prices, the Journal noted.
Additionally, there were concerns that the inventory data from the EIA could show another improvement in weekly oil supplies.
Based in Sprint TX, Southwestern Energy explores, develops, and produces natural gas and oil in the U.S.
The firm has a 50-day moving average of $10.32 and a 200 day moving average of $16.45. The company’s market cap is $2.77 billion.
Southwestern Energy Company has a 12-month low of $6.68 and a 12-month high of $31.49.
On the other news report, Stocks rallied in early trading Wednesday as oil prices rebounded from a recent rout and investors seek to halt a two-day losing streak, according to USATODAY
Southwestern Energy Company explores, develops, and produces natural gas and oil in the United States. The company operates in two segments, Exploration, Development and Production; and Midstream Services.
Finally, Shares of General Motors Company (NYSE:GM), lost -0.69%, and is now trading at $35.22.
On Dec. 8, General Motors Co. (GM) Board of Directors declared a fourth quarter 2015 dividend of 36 cents per share on the company’s common stock. The fourth quarter dividend is payable Tuesday, Dec. 29, 2015 to all common stockholders of record as of Friday, Dec. 18, 2015.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.