NEW YORK (TheStreet) -- Shares of Yahoo! YHOO rose 1.32% to $41.80 in morning trading Friday one day after the Internet company announced the U.S. government threatened to fine it $250,000 a day in 2008 if it did not comply with an NSA request.
The secret legal struggle took place in 2008, but Yahoo! made the news public Thursday after a federal court unsealed 1,500 pages of legal documents regarding a formerly classified court case about the breadth of NSA surveillance programs.
The documents did not say precisely what the government wanted from Yahoo!, according to the Wall Street Journal. The company says in part of the documents that the central issue of the case was whether the Constitution protects the communications of U.S. citizens or legal U.S. residents who could be outside the country. Portions of the documents were redacted even after they were unsealed, including the number of requests the government made of the Internet company.
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 multiple 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, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."