Yahoo gains as board reportedly considers sale
Yahoo Inc. shares gained late Tuesday after The Wall Street Journal reported that the company's board will consider selling the core Internet business. The report, based on anonymous sources, said that Yahoo's board will discuss the possibility of selling the core business of the company at a meeting starting Wednesday that could run through Friday. Yahoo has struggled to find growth under CEO Marissa Mayer, as it continues to lose Web advertising share to Alphabet Inc. and Facebook Inc. Almost all of Yahoo's market capitalization of more than $30 billion can be attributed to the company's stake in Alibaba Group Holding Ltd. and Yahoo Japan. Yahoo shares added more than 4% in late trading Tuesday following the report, after closing with a 0.3% decline.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.