Yahoo Inc. shares dropped over 6 percent on Thursday after the newly appointed CEO seemed decided not to sell the company's online search business to Microsoft Corp.

Shares of Yahoo declined 6.4 percent or 0.80 cents to $11.61 a share in the Nasdaq after hours trade Thursday.

Reports today said, Carol Bartz, the successor to Jerry Yang at the Yahoo's helm, told the company in a meeting her gut was not to sell Yahoo's search business. She said she would more likely dedicate time to investigate whether to sell it or not.

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