TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Yahoo's stock tops $30 for 1st time in 5½ years

By The Associated Press
Friday, Sept. 13, 2013, 12:01 a.m.
 

Yahoo is getting closer to propelling its stock beyond the price that Microsoft offered to buy the Internet company in 2008, a feat that seemed unattainable until Yahoo hired Marissa Mayer as its CEO last year.

The stock crossed a symbolically important milestone on Thursday when it topped $30 for the first time since February 2008, when Yahoo co-founder and then-CEO Jerry Yang was drawing up ways to fend off an unsolicited takeover bid from Microsoft Corp. that was later withdrawn.

After Microsoft scrapped its offer for $31 per share, Yahoo's stock sank into a prolonged slide, falling as low as $8.94 before Mayer was hired in July 2012.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Google Pittsburgh instrumental in fight against hackers, co-directors say
  2. Retirement planning is about more than just money
  3. Hospitals, doctors in Pa. received $32M in 5 months from drug, medical device companies
  4. Western Pa. unemployment rate holds steady in August
  5. Education spending helps to widen wealth gap
  6. Trib 30 index of Pittsburgh-area stocks falls in September
  7. Shareholders cheer eBay’s decision to spin off PayPal
  8. ‘Tug of war’ takes effect on stocks as market logs 3rd monthly drop for 2014
  9. Treasury’s clampdown on tax inversions takes bite out of share prices
  10. Consol, Noble spinoff raises $385 million in IPO
  11. LNG exports get federal approval from Dominion’s Cove Point terminal
Subscribe today! Click here for our subscription offers.