Yahoo! Inc. (NASDAQ:YHOO) said it plans to spin off its Alibaba holding, some 384 million shares, late this year into a new company, along with a small wholly owned business, after lockup restrictions expire from the Alibaba IPO in September. The stake is worth $35 billion, $36 per Yahoo! share. The move was expected, though there had been fears that Yahoo! might use a less tax-efficient way to monetize the stake and give CEO Marissa Mayer cash to use on big acquisitions. On Friday shares of Yahoo! Inc. (NASDAQ:YHOO) closed at $43.99. Company’s sales growth for last 5 years was -8.30% and EPS growth for next 5 years is recorded as -7.20%.
Among the stocks trading above a dollar, Westwood oil giant California Resources Corporation (NYSE:CRC) recently spun off from Occidental Petroleum Corp., was one of the week’s leading gainers. The company also announced Monday that it has dropped plans for a major drilling project in Carson. California Resources Corporation (NYSE:CRC) in last trading activity increased 6.67% to close at $5.12. Company weekly performance is 26.11%. California Resources Corporation (NYSE:CRC) is -47.27% away from its 52 week high.
CVB Financial Corp. (NASDAQ:CVBF) on Wednesday, 21 January 2015 reported fourth-quarter earnings of $25.6 million. The bank, based in Ontario, California, said it had earnings of 24 cents per share. The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 24 cents per share. The bank holding company posted revenue of $71 million in the period, which did not meet Street forecasts. Analysts expected $73.1 million, according to Zacks. On last trading day CVB Financial Corp. (NASDAQ:CVBF) fell -2.92% to close at $14.61. Its volatility for the week is 2.83% while volatility for the month is 2.82%. CVBF’s sales growth for past 5 years was -4.00% and its EPS growth for past 5 years was 11.80%. CVB Financial Corp. (NASDAQ:CVBF) monthly performance is -10.15%.
Rentech Nitrogen Partners (NYSE:RNF) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, 19 January 2015. Rentech Nitrogen Partners, L.P. (NYSE:RNF) has 0.30% insider ownership while its institutional ownership stands at 10.50%. In last trading activity company’s stock closed at $10.90.
BlackBerry Ltd (NASDAQ:BBRY) says 2014 was a good year and is equally excited about 2015 with the launch of its new Classic smartphone. But the Canadian smartphone maker is clearly pushing towards its enterprise business with a lot of offerings aimed at that core user base. BlackBerry India managing director Sunil Lalvani tells Nandagopal Rajan what the company has new to offer. On Friday shares of BlackBerry Ltd (NASDAQ:BBRY) closed at $10.15. Company’s sales growth for last 5 years was -9.20% and EPS growth for next 5 years is recorded as 54.20%.