(Market watch)Yahoo! Inc. (NASDAQ:YHOO) dropped 6.6% in premarket trade, as it continues to follow the fate of of Chinese e-commerce giant Alibaba Group Holding BABA, +4.21% of which it still own 384 million shares.
Yahoo!, Inc. (Nasdaq:YHOO), an internet pioneer with more than 600 million monthly active mobile users, will visit the Nasdaq MarketSite in Times Square to celebrate the Yahoo Mobile Developer Conference being held in New York on August 26.
The acquisition of Polyvore will enhance consumer and advertiser offerings of Yahoo! Inc.(NASDAQ:YHOO). Polyvore will strengthen digital magazines and verticals of Yahoo through the incorporation of community and commerce.
Yahoo! Inc. (NASDAQ:YHOO) shares were set to open strongly lower on Wednesday as the firm's shares in Alibaba Group Holding Ltd (NYSE:BABA), the asset that traders put most value on, continue to do poorly amid a storm in China.
Yahoo! Inc. (NASDAQ:YHOO) stock is up as much as 1.5% in pre-market trading today after analysts at Bernstein upgraded the stock to Outperform from Market Perform, maintaining its bullish target price of $52.
Yesterday, Yahoo! Inc. (NASDAQ:YHOO) announced the worldwide release of Livetext, its latest app. The Internet giant launched the soundless video-messaging app in the US last month, along with a few other test markets.