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Internet titan Yahoo! Inc. told analysts Wednesday that CEO Tim Koogle will relinquish that title and said investors shouldn’t expect the company to report a profit for the first quarter.
The news of lowered earnings projections — from a previous nickel or so a share to zero — took a nip out of Yahoo!’s already battered share price. In after-hours trading, Yahoo! fell from 20.50 to less than 19, a price not seen since the early days of the Internet bubble in 1998.
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