SunTrust Robinson Humphrey analyst, Bob Peck, poses 10 questions investors should consider during Yahoo's earnings call Tuesday evening. No change to Buy rating or $40 PT.

1) Will you pursue an ACTIVE process for the sale of the core, given reported interest? This would be the quickest way to separate and monetize the core.

2) Have you received interest in the core and what would preclude you from engaging these parties?

3) How are the CEO’s relations with Alibaba (BABA, $67.03, Buy) and SoftBank (9984-TKS, JPY 5265, NR) and who is liaising with them for the company now that Jackie Reeses has left? Is there interest in a cash rich tax free split?

4) Why is the core spin process expected to take so long and what could be done to speed it up? Can this process be done in parallel with pursuing a core sale?

5) Do you have the right leadership & executives in place, given the recent talent departures? What is the company doing to address this?

6) What amount of costs and employee base can be cut, while still preserving existing revenues and allowing for some investment in a few growth initiatives? Are there other non-core assets that can be monetized like IP and real estate?

7) What are the more focused growth initiatives and why do you feel the company can be successful there?

8) Given the reported head count cuts and streamlining of certain projects, how can the company maintain morale, retain top employees, and continue motivation? What is the impact to the core business?

9) Given the headlines in the press about the strategy and leadership transitions, how can the company maintain current client relations and retain business? What is the disruption impact to the business?

10) While investors wait for a resolution on the core business and a new turnaround plan, what are the company’s plans to increase capital returns? What would the company do with the proceeds of the core asset if sold?

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Shares of Yahoo! closed at $29.51 yesterday.