This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Yahoo!, Facebook, Apple, Microsoft: Tech Premarket

NEW YORK ( TheStreet) -- Yahoo! (YHOO - Get Report) shares gained 1.04% to reach $16.07 before market open on Wednesday after the company announced that it is returning $3 billion to shareholders following the initial sale of its shares in Alibaba.

In a statement released on Tuesday, the Internet giant confirmed that it received approximately $7.6 billion from the sales.

The Sunnyvale, Calif.-based company received $6.3 billion in cash and $800 million in preferred shares of Alibaba in exchange for half of its 40% stake in the Chinese e-commerce company. Yahoo! also received a payment of $550 million for a technology and intellectual property license agreement. Net cash proceeds from the first stage of the repurchase agreement totaled about $4.3 billion.

"The completion of the first stage of the Alibaba share repurchase represents a significant milestone for both Alibaba and Yahoo!," said Yahoo! CEO Marissa Mayer, in a statement released on Tuesday. "The execution of the deal was excellent, and we are excited to announce its completion well within the six-month time frame we communicated. I look forward to continued partnership with Jack Ma and his team as they position Alibaba for future growth."

The $3 billion that Yahoo!'s returning to investors follows $646 million of share repurchases since the deal was announced earlier this year.

Yahoo! was also one of the most active premarket Nasdaq stocks on Wednesday on share volume of 185,173.

Facebook (FB - Get Report) was another gainer, rising 0.82% to $22.05 amid positive reports about the company's Facebook Exchange ad platform. The social networking phenomenon was another active premarket Nasdaq stock on share volume of 189,542.

Apple (AAPL - Get Report) shares, which hit an all-time high of $702.33 on Tuesday, dipped 0.19% to $700.6 in premarket trading on Wednesday.

Boosted by the recent launch of the new iPhone 5, Apple's stock closed above $700 for the first time on Tuesday.

Microsoft (MSFT - Get Report) shares dipped 0.27% to $31.09 before market open, a day after after the company announced a 15% increase in its quarterly dividend.

The software giant's latest dividend raise, however, was less than the 25% increase it implemented last year, which may reflect the broader climate of macroeconomic uncertainty, particularly in the PC market.

--Written by James Rogers in New York.

>To submit a news tip, send an email to:

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
MSFT $49.87 0.00%
YHOO $36.60 0.00%
GOOG $693.01 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs