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Yahoo shares lose ground as Microsoft deal fails

By Associated Press
June 13, 2008 | Comments (0)

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Shares of Yahoo Inc. fell in midmorning trading Friday after buyout talks between the Internet pioneer and Microsoft Corp. fell apart yet again with little hope for renewal.

Yahoo shares continued to fall in the regular session after losing 3 percent in heavy trading before the opening bell. The stock declined $1.23, or 5.2 percent, to $22.29 after the open while Microsoft's stock rose $1.09, or 3.9 percent, to $29.33. Microsoft was the volume leader in premarket action with 3.2 million shares trading hands.

Google advanced $19.50, or 3.5 percent, to $572.45 in midmorning trading.

Shares of Perfect World Co. Ltd. continued to soar after rising 11.2 percent premarket, adding $3.31, or 15.1 percent to $25.20 in the regular session.

The Chinese online gaming company raised its guidance for the second quarter on favorable marketing results and new product launches.

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