Updated from 3:41 p.m. EST
shares were slipping Thursday after reports that new CEO
might be averse to an Internet search deal with
Yahoo! shares closed down 6.5% to $11.61, while Microsoft closed up 0.8% to $19.24. The Nasdaq, meanwhile, ended up 1.5%.
According to the
Dow Jones Newswires
, Bartz told Yahoo! employees Wednesday that her instinct was to hang on to Yahoo!'s search business. The former
executive said she had made no related decisions yet on the move, considered by many a crucial element in Yahoo!'s battle with
for Internet dominance.
Bartz did say she'd met with Microsoft CEO Steve Ballmer since taking the helm at Yahoo! on Wednesday, according to
The Wall Street Journal
, but she was not forthcoming with details of that conversation.
Regardless of how she does it, Bartz has plenty of incentive to right Yahoo!'s ship. According to a regulatory filing, she will receive a $1 million salary, plus at least $18 million more in cash and stock during her first year in the job, and 5 million stock options.
Microsoft had its own set of woes to contend with Thursday after reports that it was considering
This article was written by a staff member of TheStreet.com.