Goodbye Microsoft ! Yahoo Google !
Seems like Techcrunch and Wall Street Journal get to beat everybody else on the really BIG news. TC/WSJ have forced Yahoo to confirm in a press release that it had ended talks with Microsoft today for any kind of deal, with Techcrunch leading on an expected Yahoo / Google search tie-up and other rumours (such as senior execs leaving). But ... markets don't move for a full 3.5 hours...
A deal with Google on search is now widely expected. Techcrunch's Mike A himself broke that one but it seems his timing was ambitious (he was claiming a big announcement on this at 1.30 PST -- none so far). Probably trying a touch too hard to outdo the old media folks he ?
Two things are for sure:
- Mr Icahn must have used some flowery language at around 10.38AM today
- The anti-G alliance just won ~ 120 million new converts
What's also interesting to me here is the timelag between the rumour release and the stock impact. It really take a company press release and a Reuters hit to make the markets move.
- 10:37AM PST TechC
- 11.38AM PST PaidContent
- 14:05 Full story on Reuters
- Stock really goes down at around 2PM
Why ? Simple. Credibility ! Question: can someone tell me how often breaking news from Mike A are actually on or directionally correct ? Can you derive a public market informational advantage from reading Mike A ? Look at the volumes traded below: does not like a serious seller even took a risk.
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