Yahoo 1st Quarter Stake Cut by 28 Percent because of Fidelity Contrafund

Yahoo Inc., also known simply as Yahoo, is a global technology enterprise. It delivers search information, communications tools and online content on the Internet and mobile devices. Yahoo provides various services and products, many of which are personalized, to users in the hundreds of millions.

This Internet search mogul, which trades under the yhoo Stock Symbol, is based on Sunnyvale, CA. Yahoo was founded in January 1994 by David Filo and Jerry Chih-Yuan Yang. Currently, most of the company’s solution offerings are available in 60 territories, regions and countries, in over 45 languages.

Contrafund, Fidelity Investments Company, made Yahoo Stock news as Yahoo, Inc.’s biggest shareholder of mutual funds. Contrafund recently cut its stake in the online search company, according to the latest fund disclosure.

This $109 billion company was able to maintain an overweight share in YHOO Stocks by the end of March. However, its first quarter 28% slash has had a dramatic effect on the Yahoo Stock Share Price.

The YHOO Stock Price Today for the NASDAQ Stock Exchange Global Select Market is currently at $34.07. This YHOO Stock Price represents a decrease of $2.42 or a 6.63% drop. Yahoo’s current 52-week high is capped at $41.72, with an average volume of 6,058,904.

During the first quarter, Yahoo’s share performance became quite weak due to an increase in operating expenses. The company’s display-advertising revenue also dropped, hurting Contrafund in the process. So far this year, YHOO Stock Share Prices have dropped by 11%. This is expected to change directions with Contrafund’s stake in Alibaba, the long-awaited China based company.