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Yahoo (NASDAQ: YHOO) is recently trading at $28.30 in pre-open trading, below its close of $28.54.
Jeffries says YHOO "1Q results suggest slow but steady progress in display and search, while weak affiliate business continue to dampen overall growth."
Microsoft (NASDAQ: MSFT) announced on Jan. 31 an offer for YHOO payable in $31 cash or 0.9509 per share of MSFT. Dow Jones reported this morning MSFT's CEO Steve Balmer has no plans to raise its YHOO offer, "prepared to move forward without YHOO." MSFT deadline for moving forward with a hostile takeover of YHOO is April 26.
YHOO May option implied volatility of 48 is above its 26-week average of 40 according to Track Data, suggesting larger price movement.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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