Here is a graph of Yahoo, Microsoft, and Google from announcement of the failed deal to today. Note that only Google ended today up — both Microsoft and Yahoo fell on the day. The latter wasn’t a surprise, but the former apparently was to some people.
What a slap in the face to Microsoft CEO Steve Ballmer. He cancels the Yahoo deal and shareholders still don’t see fit to get optimistic about his company. Does anyone think the market would have reacted the same way if Ballmer would have resigned?