Yahoo! Opens Books and Shows Financial 'Meltdown' at the Company
Yahoo! (YHOO) finances look grim as the deadline to make bids to buy the core assets of the company approaches. Recode reports that financial documents submitted as part of the vetting process show potential bidders its revenue and earnings are in a freefall. The filings showed earnings falling 20% and revenue down 15%. It also revealed that Yahoo! is granting stock grants just to get them to stay at the company. The deadline for initial bids to buy Yahoo!'s core assets is Monday. JP Morgan Chase (JPM) - Get Report CEO Jamie Dimon says in a letter to shareholders that the bank expects more volatility but its balance sheet is a fortress that can absorb stress test losses. Dimon says he's also no worried about negative interest rates. Tesla (TSLA) - Get Report is expected to give an update today on orders for the mass market vehicle, the model 3, as its ability to meet demands for those vehicles. Weekly jobless claims are due today. Consumer Credit for February is reported. Federal Reserve Chairwoman Janet Yellen joins former Fed Chairs Ben Bernanke, Alan Greenspan and Paul Volker in New York
