NEW YORK (TheStreet) -- Shares of Yahoo! (YHOO) were climbing, up 0.4% to $43.05 in midday trading Friday, after the Internet company announced in its second-quarter progress report that it will shut down its maps website as well as a few other applications, according to The Wall Street Journal.
By trimming some of its services, the company hopes to sharpen its focus on search.
Yahoo! will also stop supporting Yahoo Mail for Apple's (AAPL) built-in mail app starting June 15, The Journal added.
The company said it will hone in on its key products so it can make sure that its "resources are spent smartly and with a clear purpose."
Sunnyvale, Calif.-based Yahoo! is a global technology company, delivering digital content and experiences, across devices and globally. The company provides online properties and services to users, as well as a range of marketing services.
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 some important positives, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- YHOO's revenue growth has slightly outpaced the industry average of 5.8%. Since the same quarter one year prior, revenues slightly increased by 8.2%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Although YHOO's debt-to-equity ratio of 0.04 is very low, it is currently higher than that of the industry average. Along with this, the company maintains a quick ratio of 4.44, which clearly demonstrates the ability to cover short-term cash needs.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Internet Software & Services industry and the overall market, YAHOO INC's return on equity exceeds that of both the industry average and the S&P 500.
- Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings results. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
- You can view the full analysis from the report here: YHOO Ratings Report