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Internet media company Yahoo! (YHOO) was up 4.6% in preopen Island trading as it prepared to deliver first-quarter results after the close today.

In early March, Yahoo! reduced estimates to break-even from 5 cents. The company first lowered guidance in January, when analysts were expecting 13 cents. Analysts polled by

Thomson Financial/First Call

now expect break-even results.

The report will be closely scrutinized for indications of the health of online advertising.