U.S. Morning Call: Yahoo looking to Tumblr for revival
Monday, May 20, 2013 - 02:55
May 20 - Yahoo's board approved an acquisition of blogging and social networking site Tumblr for over $1 billion in cash in hopes to draw a younger audience to the struggling search engine.
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Let's take up your Monday morning calling the deal everybody's been talking tweeting and tumbling about all weekend. Yahoo!'s board approved an acquisition of -- for over one billion dollars in cash according to the Wall Street Journal. Marissa Mayer powering on the editing machine this is the largest deal since she took over in July 22 well. It's also a huge pay day for Tumblr founder David -- he still -- much -- the company and is expected to stay with Yahoo! for at least four more years. -- -- venture capital backers include union square ventures and Sequoia Capital. The company raised 125. Million dollars from Iran of funding and is now about at around 800 million. This latest acquisition puts -- on the social map with FaceBook and Google+. -- -- -- And it's also easy to tumble on horn. And other questionable content on the site. That's not likely comforting to advertisers. We'll keep following the deal mayors in Manhattan today it has promised to quote share something special with the press. Shares of Yahoo! up over two and a half percent in the premarket. Got to stocks to watch keep Diane shares of Chesapeake Energy today. The company is hired Robbie Lawler of rival Anadarko Petroleum as chief executive. He's not the job left NT one former CEO our McClendon left in April after a Reuters investigation escalated to civil and criminal probes that the company. Another energy name worth watching Plains Exploration & Production. It shareholders vote on the six billion dollar takeover bid from mining giant Freeport Mac Moran. But there's like to be a battle in the boardroom as too large shareholders and to proxy advisory firms are against the acquisition. If the deal falls apart it would reports plans to expand into oil and gas business. An -- look at the markets US stock futures pointing to a lower open this morning but stocks seeing highs now for four straight weeks. For investors in gold and silver it could be the beginning of another ugly week silver's down to two and a half this morning. As for gold and other today and other drop it down 20% so far this year around thirteen fifteen ounce today. Both are suffering as investors inspect and expect the Fed's bond buying slowdown and look for places to put their money. That's if you're Monday morning Paula never follow us on Twitter -- later insiders -- -- and later dot com slash. And --
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