Yahoo’s (YHOO) plan to spin off of its core Internet business while retaining its 15% stake in China giant Alibaba Group (BABA) is drawing fire from shareholders including New York hedge fund SpringOwl Asset Management, which said that it wants to replace Yahoo CEO Marissa Mayer, according to a report in the Wall Street Journal. “I disagree with this notion that Yahoo can’t be fixed,” said Eric Jackson, managing director of SpringOwl, which has
Yahoo (YHOO) investors “are sentenced to another year of fumbling and uncertainty” now that the Web portal has canceled the spinoff of its valuable stake in China ecommerce giant Alibaba (BABA) and will pursue spinning off its core business instead, according to an industry report on Thursday from Edison Investment Research analyst Richard Windsor. “The rationale behind this change is simply that spinning Alibaba carries a risk of substantial
Yahoo (YHOO), which went public nearly 20 years ago, may retain some youthfulness by holding onto its stake in up-and-coming Chinese e-commerce giant Alibaba (BABA), highlighting the shift from older tech leaders to other new ones like Facebook (FB) and Avago Technologies (AVGO). Although stocks have been struggling as of late, Alibaba, Facebook and Avago have been performing better than the overall average. Plus, stocks that are still relatively