Midday Report: Yahoo! Appoints Two to Board; Oil Resumes Slide

U.S. stocks gave up earlier ECB-inspired highs as worries over crude oil resurfaced. Oil tumbled on reports a meeting between major oil-producing countries later this month was unlikely to happen. Hopes were high countries might agree on a production freeze. Yahoo! (YHOO) has appointed two independent directors, a move that could be seen to stave off activist investor Starboard Value's attempts to control the board. Starboard has pushed Yahoo to sell its core Internet business and has suggested it is willing to launch a proxy fight. Box (BOX) jumped following positive guidance for the full year which puts it in good standing against competitors Microsoft and Dropbox. The cloud storage company expects sales to increase 30% this fiscal year.