4 Tech Stock Stories for a Smart Download
February 04, 2013
Yahoo! (NASDAQ:YHOO): Current price $19.34
On Thursday and Friday, Daniel Loeb’s Third Point sold 11 million of its Yahoo shares, according to a filing with the Securities and Exchange Commission. Third Point said that it sold the shares so as to maintain an approximately consistent percentage holding of Yahoo’s outstanding shares, as it pursues its $5 billion repurchase authorization; in the quarter ended December 31st, Yahoo repurchased around 80 million shares worth $1.5 billion, under a $5 billion plan it authorized in May.
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