Breaking Finance News

BREAKING- Yahoo Falls Sharpely After Announcing Share Repurchase

Shares of Yahoo (NASDAQ: YHOO) are falling sharply after an announcement that Dan Loeb, Michael Wolf, and Harry Wilson are leaving the Yahoo board at the end of the month.

Loeb’s hedge fund, Third Point, will sell 40 million shares back to the company giving Third Point a less than 2 percent stake in the company.

The stock is currently down 3 percent in early trading.

[stock-tools exchange="NASDAQ" symbol="YHOO" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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