Yahoo closes below $39 as tax bill, investment plans mulled

Yahoo's ( YHOO -5.6% ) remaining 384M-share Alibaba stake is worth $34 pre-tax, but perhaps only $21/share post-tax, estimates Bernstein's Carlos Kirjner, who downgraded shares earlier today. "This makes it clear why the tax treatment of the Alibaba stake is such an important swing factor for the value of the stock." Kirjner thinks Yahoo could be worth $44/share on a sum-of-the-parts basis. He ...



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