Credit Suisse Disruptive Technology Portfolio: Change At Yahoo And Rumor Drive Stock Price
Stockholders like exec shifts but leery of possible News Corp. stake.
Yahoo was the biggest story of the week among the Disruptive Technology Portfolio's 29 companies. After the market closed Monday, the company announced that CEO Terry Semel was stepping down, to be replaced by co-founder Jerry Yang. In addition, Sue Decker, who recently moved from being CFO to head Yahoo's advertiser and publisher division, was named president, now heading business operations.
The stock initially traded higher--shareholders had become critical of Semel's leadership, his focus on content rather than software innovation, and the widening gap between Google and Yahoo in the Internet search market. Later in the week, reports of a potential deal with News Corp.'s MySpace for a 25% stake in Yahoo drove the stock higher. As observers debated what Yahoo's next moves might be, the stock price settled at $27.66, a 2.5% loss for the week.
The DTP saw an overall gain of 2.2% for the week, in contrast to the S&P 500, which fell 1.1%. Sixteen DPT stocks ended the week up, while 12 declined.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.