By Jon Najarian
Assets Estimated at $8 Billion
Web company Yahoo (YHOO) is reportedly in discussions to sell its 35 percent stake in Yahoo Japan, a joint venture with Softbank (OTCPK:SFTBF), according to news reports. The assets are estimated to be worth up to $8 billion. YHOO is up more than 3 percent on our extended-hours platform.
Weatherford (WFT) Plunges on Tax Issues
The oilfield services company said last night that it is revising financial statements going back to 2007, citing "material weakness" in its tax filings. The changes are estimated at $500 million in the last four years. WFT is down more than 15 percent this morning after seeing heavy option activity yesterday.
Staples (SPLS) Earnings Miss Forecasts
The office-supply retailer reported fourth-quarter adjusted earnings of $0.39 per share, which was below the $0.41 EPS that analysts were looking for. The company said profits were up 17 percent from the previous quarter but that revenue was flat. Staples also issued full-year guidance that was in line with expectations. SPLS is off nearly 2 percent in the pre.