Yahoo! Shares Rise On Report of 'Strong' Retail Showing

Shares of Yahoo! (YHOO Quote - Cramer on YHOO - Stock Picks) were boosted in pre-open trading Tuesday by an announcement that the online portal's shopping channel showed "strong results" during the holiday season.

Yahoo! shares were recently trading at $32.25 on Instinet, up 9% from Friday's close of $29.56.

Sales volume over the 2000 holiday season nearly doubled over the same period of 1999, Yahoo! said. And Yahoo!'s non-U.S. properties saw a six-fold increase in transaction volume. Yahoo! did not specify what portion of that increase was attributable to expansion in the availability of its international service, which is now deployed in 14 countries.

Yahoo! also said that sales volume tripled to U.S. brand-name retailers that had physical retail stores.

The peak shopping day this season was Dec. 11, compared with a peak of Dec. 13 in 1999, Yahoo! said.