There's a lot to like about
stock performance over the past few month. Since the beginning of the year, Yahoo! is up 34%, while eBay is up 27%. So it's not a huge shock that Jim Cramer talked up both companies on Thursday night's "Mad Money."
Cramer said he's a fan of Yahoo!'s new CEO Carol Bartz, who has spent the past few months streamlining operations and laying off workers. Yesterday, Yahoo! plucked Tim Morse away from chip maker
to fill Yahoo's recently vacated CFO seat.
"Tim has a proven ability to translate strategy into structure, process, and execution, and I am delighted that he will be joining my leadership team to help drive Yahoo!'s growth," Bartz said in a release. "With his passion for operational finance, global experience, and expertise simplifying complex organizations and managing growth, Tim is a natural fit for Yahoo!"
Before Altera, Morse was the CFO for General Electric Plastics. He also spent 15 years at GE, working in other sections like GE Appliances and GE Capital in North America, Europe and Asia.
"Yahoo! is an amazing brand with a unique combination of assets, and I am extremely excited to be joining a finance team with a deep commitment to financial excellence and fiscal discipline," Morse said in a statement. "I look forward to working with the entire leadership team to continue to focus on driving results and creating value for our shareholders."
Altera said in a statement yesterday that a CFO search is commencing. In the meantime, James Callas, VP of finance and corporate controller, will serve as the acting CFO. Shares for Yahoo! were changing hands a little in positive territory, gaining 1.3% by the closing bell. Altera finished the day in the red, down 3.6%.
Some of the bigger news out of eBay land came from an interview with CEO John Donahoe.
The Wall Street Journal
reported yesterday that when it comes to the economy, Donahoe said he was "cautiously optimistic" about the near future after seeing the company's growth slip in past months.
Cramer has been
talking up eBay in recent days thanks to its $3.2 billion pile of cash and impressive operations like PayPal, Skype and Stub Hub.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.