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Updated with additional information on, Nordstrom, Eastman Kodak, and the latest pricing quotes.



) -- Shares of



tanked in late trades on Thursday after the Internet search and content company made the stunning disclosure that it only learned at the end of March of the transfer in ownership of the

Alipay third-party online payments business

affiliated with

Alibaba Group

that occurred back in August 2010.

Yahoo, which has a roughly 40% stake in Alibaba, first disclosed the change in a regulatory filing late Tuesday, and its stock fell 7% on massive volume of 131 million during Wednesday's regular session.

The shares endured a relatively flat session on Thursday before issuing a statement on the news, saying it and Japan's Softbank, which reportedly owns a little more than 30% of Alibaba, learned on March 31 of "two transactions that occurred without the knowledge or approval of the Alibaba Group board of directors or shareholders," referrring to the transfer of ownership of Alipay to a company majority-owned by Alibaba CEO Jack Ma and then of the "deconsolidation of Alipay effective in the first quarter of 2011."

Yahoo said its disclosure of the change on Wednesday reflected it "obtaining a better understanding of this complex situation" and said it continues "continues to work closely with Alibaba and Softbank to protect economic value for all interested parties."

The stock was last quoted at $16.10, down 6.2%, on volume of 4 million, according to

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. The move marks a break below the shares' 200-day moving average of $16.71, and effectively erases the roughly 4.4% gain the stock had clocked in the past year.

While the exact value of Yahoo's stake in Alibaba is a matter of intense debate on Wall Street, few would argue it's not being counted as a major multi-billion positive for the company. David Einhorn of Greenlight Capital disclosed a fresh investment in Yahoo earlier this month, and


called Alibaba the company's "most valuable asset" in a letter to the hedge fund's shareholders, adding that he "wouldn't be surprised" if the stake was "ultimately worth as much as Yahoo's entire current market value."

Yahoo's market capitalization is right around $22.7 billion, based on the recent share price.

In Wednesday's SEC filing, Yahoo said the ownership shift was done to "expedite obtaining an essential regulatory license" and said the terms of the transaction were still being discussed.


Shares of


(NVDA) - Get NVIDIA Corporation Report

slipped in extended action after the graphics chip maker

trounced Wall Street's expectations for its latest quarter

but didn't back up that outperformance with a bullish enough outlook for the current period.

The Santa Clara, Calif.-based company reported a non-GAAP

generally accepted accounting principles profit of $165.7 million, or 27 cents a share, for the three months ended May 1. Revenue totaled $962 million for the latest quarter.

The latest numbers trumped the average estimate of analysts polled by Thomson Reuters for a profit of 19 cents a share in the quarter on revenue of $948 million. However, for the second quarter ending in July, Nvidia said it sees sequential revenue growth of 4-6%, a slowdown from the 8.5% pace it set in the first quarter.

The stock was last quoted at $19.89, down 3%, on volume of 3.3 million.

Shares of

(TREE) - Get LendingTree, Inc. Report

soared after the company agreed to sell its mortgage origination business to

Discover Financial Services

(DFS) - Get Discover Financial Services Report

for $55.9 million.

"This move enables us to bring more focus to our core lead generation business at a time when demand for LendingTree leads is particularly strong," said Doug Lebda, the company's chairman and CEO, in a press release. "In addition to the purchase price, this transaction will unlock significant cash that can be used to invest in our other verticals as we continue towards revenue diversification."

The stock was last quoted at $7.25, up 34.3%, on volume of around 26,000, according to

., whose shares were down more than 30% in the past year prior to the move in the extended session, said it expects the transaction to close by the end of 2011.



(JWN) - Get Nordstrom, Inc. (JWN) Report

took a hit after the upscale retailer

lowered its full-year outlook

to reflect costs related to its acquisition of online "flash sale" company Hautelook.

Nordstrom brought its fiscal 2011 outlook down to a profit of between $2.80 and $2.95 a share because of costs related to Hautelook from a prior projection of $2.95 to $3.10 a share. The company also forecast a same-store sales increase of 2-4% for the year, a view that represents a decline from the 7.8% growth in comparable sales post in the first quarter.

The current average estimate of analysts polled by Thomson Reuters was for a profit of $3.13 a share for the fiscal year ending in January 2012.

Nordstrom said it expects Hautelook to produce revenue of between $160 million and $180 million for the year, and breakeven results. The company estimated the pre-tax expenses related to Hautelook will total $47 million, or 20 cents a share, for the year.

The stock was last quoted at $48.14, down 2.1%, on volume of around 875,000. Year-to-date, the shares have risen nearly 15% based on Thursday's regular-session close at $49.17.

Eastman Kodak

Shares of

Eastman Kodak

( EK) jumped more than 7% to $3.05 on volume of less than 500,000 after the company reportedly got a

favorable decision

in its patent dispute with


(AAPL) - Get Apple Inc. (AAPL) Report


The dispute involves two patents held by Eastman Kodak related to digital camera technology, and


reported a spokesperson for Kodak as saying: "We're pleased by today's ruling and we are looking forward to the full ITC commission's ruling in our case against Apple and RIM, which is expected in late June."

Kodak is looking to exact royalties from both Apple and

Research In Motion

( RIMM) related to the patents in question. Apple shares ticked lower in late trades, slipping 67 cents, or less than 1%, to $345.90.


Written by Michael Baron in New York.

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Michael Baron


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