That's unpossible!
Over the weekend, Yahoo gave Microsoft the raspberry and Microsoft decided to take its $40 billion ball and go home to sulk.
This morning, I awoke[1] to find that Microsoft's stock was up 0.24, and Yahoo's was down 3.91. You'd expect the opposite to happen, but it's a funny world in which we live.
[1] It never ceases to amaze me that the NYSE is already showing trends by the time I wake up in the morning here on the West Coast. It's like living in a perpetual time bubble offset from the rest of the world.
2 comments:
Since Microsoft was offering a significant premium on Yahoo's market price, that (MSFT up, YHOO down) is the expected result of withdrawing the offer, however MSFT should have actually gone up significantly more.
The fact that MSFT isn't up significantly indicates that either (a) investors think that Microsoft should have gone through with the deal, (b) investors think Microsoft isn't really serious about withdrawing and this is all a negotiation tactic, or (c) investors are irrational.
the time bubble is offset even further from the rest of my world, and I know exactly what you mean.
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