Microsoft and Yahoo in 10-year Web search partnership
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. Shares of Yahoo, which had risen in recent weeks in anticipation of this deal, fell more than 7 percent in premarket trading, while shares of Microsoft edged higher. Read Full Article here.
Sprint posts loss, shares tumble 10 percent
Sprint Nextel Corp posted a wider quarterly loss and revenue fell 10 percent as the No. 3 U.S. mobile service continued to lose valuable monthly bill-paying customers. Its shares fell more than 10 percent. Read Full Article here.
Chipmakers optimistic on recovering demand, prices
Top Asian and European semiconductor manufacturers sounded a note of optimism on Wednesday as they predicted demand and prices picking up in the second half of the year. Taiwan's UMC, the world's second-biggest contract chipmaker, Europe's top chipmaker STMicroelectronics and even struggling German competitor Infineon all forecast that this quarter's sales would beat last quarter's. Read Full Article here.