AT&T (T - Get Report) shares took a hit in Friday's session on news that the company made a second-round offer for Yahoo's (YHOO) core internet assets. AT&T along with Verizon Communications (VZ - Get Report) both made second-round offers.
Yahoo will put together a new shortlist of bidders from which it will solicit binding offers, according to Reuters. On Thursday, CNBC reported that Verizon's bid of more than $3.5 billion was topped by multiple offers at or above $5 billion dollars. Yahoo's board of directors is planning to meet Friday to review the second round of bids, according to CNBC.

This article was written by a staff member of TheStreet.