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Why Yahoo (YHOO) Stock Is Down Today

Yahoo (NASDAQ:YHOO) stock is down Thursday as the company received an earnings downgrade.

YahooCantor Fitzgerald analysts lowered Yahoo’s 2015 earnings estimates to $0.18 from $0.37 per share. Additionally, it cut 2016 earnings estimates to $0.31 from $0.43 per share.

The company maintained its “buy” rating on YHOO stock and set a price target of $56 for it. The move is a result of the firm lowering the price target of Alibaba (NYSE:BABA) to $95 from $110.

Earlier this year, Yahoo announced it would spin off its stake in Alibaba into an independent investment company called Aabaco Holdings, Inc.

YHOO stock is down 3.3% Thursday. BABA stock is down 3.65%.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/08/yahoo-yhoo-stock-2/.

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