Yahoo!(YHOO Quote) rose $2.61, or 12.2%, to $23.96 after activist investor Carl Icahn revived hopes of a Microsoft buyout deal for Yahoo!.
Icahn said he has been in talks for the past week with Microsoft CEO Steve Ballmer, noting Ballmer would be interested in restarting negotiations if shareholders elected Icahn's slate of directors to the board at Yahoo's upcoming shareholder meeting in early August. Yahoo has been under intense pressure from shareholders after it rejected Microsoft's $31 a share offer for the company a few weeks ago.
Fannie Mae(FNM Quote) and Freddie Mac(FRE Quote) were tumbling more than 20% at one point after an analyst at Lehman Brothers expressed worries about new accounting requirements that might force both government-formed companies to raise billions of dollars in new capital. ...
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