Yahoo (YHOO) NewsBite - YHOO Falls Despite Icahn's Optimism

Posted: Friday, October 09, 2009 9:53 AM EDT

Yahoo (NasdaqNM: YHOO) opened at $17.48. So far today, the stock has hit a low of $17.15 and a high of $17.48. YHOO is now trading at $17.25, down $.33 (-1.88%). Over the last 52 weeks the stock has ranged from a low of $8.94 to a high of $17.94. Activist investors Carl Icahn, who owns a stake in YHOO, praised YHOO's new CEO in an interview with CNBC this morning. He called Carol Bartz a "real operator" who is "getting things done," and praised the company's search deal with Microsoft (MSFT). However, he also acknowledged that YHOO "cannot compete with a giant like Google (GOOG) and a giant like Microsoft." Technical indicators for the stock are neutral and S&P gives YHOO a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on YHOO the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]

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