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Yahoo Stock Plummets
Shares of Yahoo (YHOO) plunged more than 15% Thursday after the former dot-com darling warned that it miss Wall Street's first-quarter expectations and that Chief Executive Tim Koogle plans to step down from that position.
Shares of Yahoo, which were halted for most of the day Wednesday for the release of pending news, fell $3.25 to $17.69 Thursday.
Koogle, who will stay on as chairman, said he felt Yahoo needed an infusion of new talent.
The company also announced Wednesday that its first-quarter operating earnings will come in at "approximately break-even," well short of analysts' projections. Full-year results also could miss targets.
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