The MSFT Yahoo deal fell through.
On the day the markets were doomed for collasp MSFT saves the day. I said it then and I will say it now. SOMETHING SMELLED FISHY.
the news that corporate America was in contraction for the first tim in years was huge. Even strtanger was this news was based on CORRECTIONS. In other words the Federal Government knew the bomb was coming. Then along came their savior with a BS hostile take-over proposal.
A contraction in corporate America means massive reduction in technology spending. NOBODY THAT IS NET LAYING PEOPLE OFF SPENDS MONEY ON COMPUTERS - NOBODY. Out of the depths of the secto that should have been hardest hit comes a savior with a plan to save the market that required few loose lips.
Then came the SECOND. Consumer spending is declining. NO DUH. People that are unemployed don't buy computers.
Wait till the dust settles and then Yahoo final speaks - NO DEAL. No big deal the offer was illegal anyways so MSFT was never resiking anything.
But back to what Microsoft was trying to save by butchering their market cap by 19 billion to raise YHOO's market cap by 19 billion for a nt change of ZERO that rallied the market a few percentage points on a day it should have dropped 5% saving TRILLIONS in lost American money. Can anyone in technology grow their revenues based on our economy? Because these stocks are PRICED FOR MASSIVE GROWTH.
$42.24 (02/09/08)
