Yahoo (YHOO) Bouncing On The eBay (EBAY) Gmarket (GMKT) Move

April 13, 2009 8:48 AM EDT

This morning Gmarket (Nasdaq: GMKT) is up approximately 36% to $24.80 on news that eBay is buying a 34.2% stake in Gmarket at a 32.5% premium to Friday's closing price. Yahoo! (Nasdaq: YHOO) is benefiting up from its 10% stake in Gmarket and YHOO is up over 5% this morning on the eBay-Gmarket news.

Yahoo may also be seeing some buyer interest from a story in the Journal today about Microsoft (Nasdaq: MSFT) and Yahoo restarting talks to form some sort of partnership.

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