Rumor Mill Swings Into Gear on Yahoo! Trading Halt

Updated from 10:06 a.m. EST:

Speculation swirled around Wall Street Wednesday about the fate of Internet giant Yahoo! (YHOO Quote) after the company backed out of an appearance at an Internet conference and trading in its shares was halted. The company said it would issue a postclose press release and hold a 5:15 p.m. conference call, though it declined to specify the subject.

The possibility that Yahoo! might be a buyer or seller in a major transaction has been a staple of the Internet-deal rumor mill for years, co-starring a host of big media and Internet companies running from Disney (DIS Quote) to eBay (EBAY Quote). Also on traders' radar screens was the notion that Yahoo! could warn of an earnings shortfall, as the Net ad market has been notoriously weak and big newspaper publishers have begun warning of weakening results for February.

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