Keep in mind that YHOO shares trade in the euro market for hours before the US extended hours session even starts. On a Bloomberg Terminal: YHO GR Equity That trading will ultimately decide where the US opens, obviously.
Although I can feel for his hate for M$ I think if he really hated them he should have let them buy. It would have grounded that ship, money spent and lost forever on a worthless company. The demise of M$ would have come 5 years sooner than it will now. As Yahoo itself too. They're both dinosaurs, living from acquired fat but soon extinct. Ursa..
Terrified Bill Miller in the New York Times this morning: "Mr. Miller appeared to be applying some pressure of his own, saying that he expected Yahoo to use a good portion of its approximately $2.3 billion in cash to buy back shares. âIt would be almost incoherent not to do so,â Mr. Miller said. âYou canât maintain that $33 undervalues your company, have your stock trade below that, and not buy back stock.â Analysts say that Yahooâs shares, which closed at $28.67 on Friday, are likely to drop below $25 and perhaps as low as $20 on Monday."