Yahoo! (YHOO): Hack Not A Material Adverse Change - SunTrust's Peck
- Wall Street flat as banks gain, utilities drag
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
SunTrust Robinson Humphrey analyst, Bob Peck, stated that he expects the Yahoo! (NASDAQ: YHOO) core sale to proceed amid news merger partner Verizon (NYSE: VZ) stated it was notified 2 days ago, and is currently evaluating the impact and could very well accept this as a cost of being in business.
The sale agreement does not discuss price adjustments upon change in business outlook. However, the analyst believes the MAC likely is NOT triggered given the exclusion for "any failure by Yahoo to meet its internal or published projections, budgets, plans, or forecasts of its revenues, earnings, or other financial performance or results of operations."
No change to the Neutral rating.
Shares of Yahoo! closed at $44.15 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AutoZone (AZO) Tops Q1 EPS by 5c; Comps Light of Views
- BTIG Downgrades iRhythm Technologies (IRTC) to Neutral
- UPDATE: Stifel Upgrades Martin Midstream Partners (MMLP) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Mergers and Acquisitions
Related EntitiesSunTrust Robinson Humphrey, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!