Yahoo Announces 4th Quarter Financial Results: Stock Up In Pre Market
Yahoo has posted their year-end financial results, showing a drop in profits by but increase in overall revenues. Based on that news alone, Yahoo’s stock fell in after hours trading, but when Terry Semel, Yahoo’s CEO, announced the release of the new ranking model, the stock went up in after hours trading.
Ahead of the Bell: Yahoo at Forbes.com names the early release of project Panama the reason behind Yahoo’s stock increase overnight. CNNMoney.com has a good look at the pros and cons of the earnings call. You can read the full earning call, the transcript, at SeekingAlpha.