Yahoodelivered after the close on Wednesday with earnings and revenues that topped forecasts.
Earnings of 10 cents a share beat estimates by a penny, and revenues of $356.8 million exceeded estimates of $337 million.
The company’s fourth-quarter revenue guidance of $462-$502 million appeared to range from below to above analysts’ estimates, factoring in the acquisition of Overture.
Yahoo rose only modestly after hours because, well, at 137 times earnings, 21 times revenues, 9-13 times book value, and 89 times free cash flow, just how expensive can a stock get?
Also after the close, Sonusbeat estimates and Emulexannounced plans to acquire Vixelfor $10 a share.
The broader market pulled back during the day after the indexes failed to clear last month’s highs.
The Nasdaq fell 14 to 1893, the S&P 500 lost 5 to 1033, and the Dow gave back 23 to 9630. Volume declined to 1.24 billion shares on the NYSE, and 1.79 billion on the Nasdaq. Decliners led 17-14 on the NYSE, and 18-13 on the Nasdaq. Downside volume was 61% on the NYSE, and 51% on the Nasdaq. New highs-new lows were 317-5 on the NYSE, and 288-4 on the Nasdaq.
SAPsurged 14% after raising guidance. The news boosted shares of Oracleby 3.5%.
IBMedged higher on SoundView comments that Big Blue may beat estimates when it reports earnings next week.
United Onlineplunged 12% on rumors that BellSouthmay slash DSL prices.
Internet Initiative Japansoared 20% on hopes that it can regain Nasdaq compliance.
TiVosurged 14% on a deal with Fox.
Brocadegained 5% on an upgrade.
Borlandfell 9% on a warning.
J2 Globalrose 5% on an acquisition.
ScanSoftgained 9% on a deal with Microsoft.
CSG Systemsplummeted 40% on an adverse ruling in a broadband arbitration case against Comcast.
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