I like Marissa Mayer, but a lot of investors do not; therefore, she'll only draw fire for this. Ken Goldman is a respected CFO, with some gravitas, and this is strictly a financial matter. If I were running PR at Yahoo, I'd bring him forward.
This is all because and IRS technician talked about "dropping a hot dog or lemonade stand" into a publicly traded stock. Whether you like Yahoo or Alibaba or not, I don't think either one can be referred to as a hot dog stand.
Furthermore, there ought to be something in the IRS rules, similar to Reg FD, barring their technicians or commissioners from randomly giving talks like this and spooking any stock in this kind of market. It's either official announced by the IRS to everyone or it is not announced. You just can't have guys like this after a nice lunch with hedge fund guys in the audience popping off like this.
I bought 1500 shares of Yahoo after hours at $41/share.
I kept saying we should have gotten a special dividend, on those sales of Jif, Folgers, Pringles, but was shouted down. After all, we were going to reinvest this cash into more strategic businesses like Healthcare. Now.........Lafley want to dump Healthcare. Other than Pampers, there's no long-term investment or strategy that seems to work. Everything seems to have a 5 year half-life!!! The stock has done nothing, except for.......oh yes....the 3% dividend. It's nice if you're working, but as a retiree, it's been best to sell P&G and diversify.
Kraft up $28.50 today, shareholders get special $16.50/sh dividend.
P&G shareholders can only hope, can't we?!! The only thing that's worked for us is buying the shares of companies (Smuckers, Kellog) that have bought the products that don't seem to work for us (Folgers, Millstone, Pringles, etc.)
Please, those that are thrilled with our 3% dividend, save it!! I sell calls on more volatile stocks that generate more than that. What a decade to retire with this stock. Fortunately, I've diversified and done much better elsewhere.