YHOO is currently trading up over 6% in the afterhours session after reporting Q1 earnings that met Street expectations. This news should be good for stocks such as GOOG as well on Wednesday, and I would expect another general tech rally on Wednesday, like we saw on Tuesday. YHOO is currently trading at $33.20 in the afterhours session, up from a close of $31.30. YHOO said that it earned 11 cents per share in Q1 on revenues of $1.57 billion dollars. Analysts were expecting Q1 earnings of 11 cents per share. Investors and analysts had been worried that YHOO was going to suffer in this earnings report from a loss of market share to chief rival, GOOG. This earnings report seems to have calmed those fears.
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