Yahoo profit beats Wall St., some analysts worry over effect of hack

By Deborah M. Todd SAN FRANCISCO (Reuters) – Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, a boost for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach. Verizon's general counsel said last week that the hack, which affected at least 500 million email accounts in 2014, could have a material impact, possibly allowing Verizon to withdraw from the $4.83 billion deal. Tuesday's results provided at least an initial indication that the data breach has not led to a quick exodus of Yahoo customers, as some had feared.

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Yahoo profit beats Wall St., some analysts worry over effect of hack

With weak earnings in tow, focus turns to jobs data

Coming off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to have added 200,000 jobs in April, with the unemployment rate unchanged at 5 percent and a wage increase of 0.3 percent, according to Reuters data. Unlike in recent months, where weak jobs numbers were counted on to stave off another Federal Reserve interest rate hike, investors are now itching for better-than-expected employment data to indicate a stronger next earnings season, analysts said.

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With weak earnings in tow, focus turns to jobs data

Yahoo results edge past estimates in good sign for sale of business

By Deborah M. Todd San Francisco (Reuters) – Yahoo Inc's first-quarter results beat Wall Street estimates by a hair on Tuesday in what was taken as a good sign for the web pioneer's plan to auction its core business. Under pressure from activist shareholder Starboard Value LP and others, Yahoo has ramped up a sale of its media, email and other web businesses. Yahoo's overall fortunes have failed to revive under Chief Executive Marissa Mayer, although she points to good results in key areas including social media.

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Yahoo results edge past estimates in good sign for sale of business

Yahoo launches auction process as Starboard gears up for fight

Yahoo shares jumped after the company announced its board has formed a committee of independent directors to explore strategic alternatives, and that it has hired investment banks and a law firm to run the process. The launch of the auction process, a move activist hedge fund Starboard Value and other shareholders have pushed since late last year, showed the company was moving another step closer to selling its core business, which includes search, mail and news sites, rather than spin it off as previously planned. The move follows more than three years of effort by CEO Marissa Mayer to turn around Yahoo by focusing on mobile apps and trying to boost advertising revenue.

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Yahoo launches auction process as Starboard gears up for fight