Shares of Yahoo! Inc. (YHOO) are higher by nearly 5% to $35.25 in pre-market trading on Wednesday following a Wall Street Journal report that said the company’s board would be meeting for the rest of this week to discuss selling the web portal’s core business. The report noted that the board will also discuss how to maximize the value of the co.’s stake in Alibaba Group (BABA), and consider the future of CEO Marissa Mayer. The discussions come on the heels of a letter Jeffrey Smith of Starboard Value sent last month in which he said he has grown “increasingly frustrated with (Yahoo’s) unwillingness to accept our help.”
Facebook Inc (FB) — CEO Mark Zuckerberg and wife Priscilla announced they would give away 99%, about $45 billion in value, of their FB shares to charity The announcement follows the birth of their daughter Max.
Shares of Facebook/$107.11 are flat pre-market.
On Deck Capital, Inc. (ONDK) shares surged more than 39% to $12.58 in pre-market trading after the marketplace lender confirmed it is working with JP Morgan (JPM) in connection with a strategic partnership. The collaboration is set to launch in FY2016.
Shares of online retailer Ascena Retail Group Inc. (ASNA) are up $1.07, or over 9%, at $12.85, after the company reported Q116 revenue that topped analysts’ expectations. The operator of Ann Taylor and Lane Bryant stores reported earnings of $0.36 per share on revenues of $1.67 billion, up 40% from a year ago. Analysts were expecting EPS of $0.28 on revenues of $1.78 billion.
For FY16, ASNA provided EPS guidance of $0.75 to $0.80 versus consensus of $0.77 per share.