On Wednesday, Shares of Yahoo! Inc. (NASDAQ:YHOO), gained 2.01% to $31.52.
Yahoo’s spinoff of its $23 billion stake in Alibaba has run into a big stumbling block, putting more pressure on CEO Marissa Mayer, according to SiliconBeat.
In an SEC filing Tuesday afternoon, Yahoo revealed that the Internal Revenue Service had rejected its request for a “private-letter ruling” on spinning off Aabaco Holdings tax-free. Although the company pointed out that the IRS didn’t explicitly say the spinoff was taxable, it looks like it could be back to the drawing board for the spinoff, devised by Mayer as a way to provide a return to Yahoo’s perpetually disgruntled shareholders. SiliconBeat Reports
Ronald Bell, Yahoo’s general counsel and corporate secretary, wrote in the filing that the board “will continue to carefully consider the Company’s options, counting proceeding with the spin-off transaction based on an opinion of counsel.”
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 The Coca-Cola Company (NYSE:KO), declined -1.54% to $38.30, during its last trading session.
Coca-Cola Co. said Thursday it will permit so-called proxy access, joining a growing list of large U.S. companies making it easier for shareholders to nominate directors. The move comes at a critical juncture for the beverage giant, trying to win over investors after missing growth targets. It has already has replaced several of its 15 board directors with younger members in recent years. Coke will allow a shareholder or a group of up to 20 shareholders owning 3% of company shares for at least three years to nominate up to two individuals, or 20% of the board, whichever is greater.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company primarily offers sparkling beverages and still beverages. Its sparkling beverages comprise nonalcoholic ready-to-drink beverages with carbonation, such as carbonated energy drinks, and carbonated waters and flavored waters.
Finally, Union Pacific Corporation (NYSE:UNP), ended its last trade with -1.04% loss, and closed at $86.95.
Rob Knight, chief financial officer of Union Pacific Corporation will address the 2015 Citi Industrials Conference and the Morgan Stanley 3rd Annual Laguna Conference in September.
2015 Citi Industrials Conference – Boston, Mass.
- September 16, 2015, at 10:15 a.m. ET
- View presentation and listen to live Internet webcast at www.up.com/investor
- Alternatively, the audio portion can be accessed directly through the following webcast link
Morgan Stanley 3rd Annual Laguna Conference – Laguna Beach, Calif.
- September 17, 2015, at 10:30 a.m. PT
- View presentation and listen to live Internet webcast at www.up.com/investor
- Alternatively, the audio portion can be accessed directly through the following webcast link
Union Pacific Corporation, through its partner, Union Pacific Railroad Company, operates railroads in the United States. The company offers freight transportation services for agricultural products, counting grains, commodities produced from grains, and food and beverage products; automotive products, such as finished vehicles and automotive parts; and chemicals compriseing of industrial chemicals, plastics, crude oil, liquid petroleum gases, fertilizers, soda ash, sodium products, and phosphorus rock and sulfur products.
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