NEW YORK (TheStreet) -- Yahoo! (YHOO) dipped Wednesday after Microsoft (MSFT) CEO Satya Nadella said at the Code Conference in Rancho Palos Verdes, Calif. that the company has no plans to sell its Bing search technology to its partner.
Microsoft has just 18% of the market share due to Bing, or 30% including the Yahoo! searches that Bing powers. Nadella said his company is working on smarter search that could predict user habits and preferences for movies, music and more. This would rely on recommendation technology similar to what Netflix (NFLX) and Pandora (P) use but would apply it to more activities and interests.
The stock was down 1.54% to $34.58 at 10:46 a.m.
TheStreet Ratings team rates YAHOO INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAHOO INC (YHOO) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."