Microsoft Corp and Yahoo Inc inked a 10-year Web search deal to better compete against market leader Google Inc but stopped short of combining their display advertising businesses.
Yahoo shares fell 7.5%, as some investors were disappointed by the limited scope of the deal. Shares of Microsoft edged higher, while Google shares fell one percent.
“Those that were looking forward to a take-out, the deal today was rather disappointing,” said Marc Pado, US market strategist for Cantor Fitzgerald & Co. “The 10-year pact, it’s not a bad thing. It’s not as good as what investors expected.”
Friday, July 31, 2009
Microsoft, Yahoo in 10-year Web search partnership
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