Yahoo +3.9% premarket on Alibaba IPO news

|By:, SA News Editor

Yahoo's (YHOO) gains are in response to Alibaba's (ABABA) confirmation it plans to do a U.S. IPO.

At a $140B valuation, Yahoo's 24% stake would have a pre-tax value of $33.6B.

Over in Tokyo, SoftBank (SFTBF) rose 4.9% overnight. At a $140B valuation, its 36.7% stake in Alibaba would have a pre-tax value of $51.4B.