Yahoo Q1 Cheat Sheet, and the Microsoft Offer

yhoo-cheat Yahoo delivers earnings later today, so here is a quick cheat sheet of things to watch for. I will be on the quarterly call as well.

In general, I’m not buying the interpretation of Microsoft CEO Steve Ballmer’s price comments today, that Microsoft offer price isn’t changing either way no matter what numbers Yahoo produces tonight. That’s not what he said, and I remain steadfast that Microsoft can and should take a pragmatic approach and simply close discussions down by going to $31 cash, and dropping the equity component of the bid. Proving that it can bully Yahoo into taking a lower effective offer serves to effective purpose, other than convincing more Yahoo employees that they need to leave sooner rather than later.

[Update] Henry says something similar over at SAI. Notice also that Google’s  stock is doing a sympathetic run today on expectations that Yahoo will have a strong quarter tonight. And what’s good for Yahoo is great for Google, right?

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  4. Microsoft/Yahoo: Why is Microsoft Slow-Playing Its Hand, Part II
  5. Yahoo: Rejecting Microsoft; Entering the Bargaining Stage