Yahoo stock was up in midday trading Thursday on word that its search service has replaced No. 1 search provider Google (GOOGL) as the default search engine on the Firefox mobile and desktop Web browsers in the U.S. Under a deal announced late Wednesday, Yahoo (YHOO) CEO Marissa Mayer called the five-year partnership with Firefox maker Mozilla Corp. “the most significant partnership for Yahoo in five years” and said the alliance will help the
Saying that beleaguered Internet firm Yahoo is making the right strategic moves to boost its business, investment bank Nomura Securities resumed coverage of the company on Wednesday with a buy rating and boosted its price target to 57 from 40. The No. 3 search firm’s emphasis on mobile ads “can offset the drag from legacy PC display (ad) declines, starting in 2015,” wrote Nomura analyst Anthony DiClemente in a report Wednesday. Yahoo (YHOO) CEO
Struggling Internet company Yahoo, under pressure following a Q2 miss and an activist-investor revolt, late Tuesday posted Q3 earnings that beat expectations as the company saw more gains from its mobile business — even as display ad revenue continues to fall. Yahoo (YHOO) said that its Q3 sales — excluding so-called traffic acquisition costs (TAC), or payments to other websites to carry ads — rose 1% from the year-earlier quarter to $1.09