All eyes on on Yahoo! this afternoon as they are preparing to release their Q1-2008 report at 2PM pacific (about 45-minutes from now). This report is the most important one in the company’s fourteen year history as it will dictate the terms of Microsoft’s hostile take-over bid and the future of one of the oldest and most identifiable online brands.
Yahoo! shares have stayed fairly stable throughout the day, trading in the mid $28 range, suggesting investors are not dumping the stock in anticipation of a poor showing. At the same time, it should be noted that Yahoo! share prices have not peaked above the $31-dollar per share offer Microsoft put on the table, which suggests The Street feels Microsoft has made a fair offer.
If Yahoo! shows strong results from the first three months of 2008, the take-over attempt by Microsoft will be that much harder. If, however, Yahoo!’s numbers are weak, especially in the face of Google’s excellent report last week, the Microsoft bid will almost certainly become a reality.
We’ll just have to wait a few more minutes to see what develops. Stay tuned…
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