NEW YORK (TheStreet) -- Shares of Yahoo Inc. (YHOO) are up 0.61% to $36.10 in pre-market trading on Thursday after the Internet giant announced it's shutting down more of its less popular products to focus on core areas which drive more traffic to the site, such as the photo sharing site, Flickr.
Yahoo People Search, and Xobni were closed as of July 2, and Yahoo Shine, Yahoo Voices, and Yahoo Toolbar on Chrome will be shut down by the end of the month.
Yahoo Contributor Network will close at the end of August, the company announced on its Tumblr blog on Wednesday.
Separately, 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 number of 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, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."