Yahoo Shares Rise Ahead Of Alibaba Earnings, Verizon Deal Closing

Yahoo (YHOO) stock climbed ahead of Alibaba Group Holdings' (BABA) earnings report on Thursday after Yahoo announced a $3 billion stock buyback.

Yahoo stock was up 1.7% to 50.74 in midday trading in the stock market today. MKM Partners raised its price target on Yahoo to 62 from 58.

The stock buyback will provide liquidity if shareholders try to sell Yahoo shares before its deal with Verizon Communications (VZ), a Dow component stock, closes. The tender offer will expire on June 13, the...

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