Shares of Yahoo Inc. (NASDAQ: YHOO) dropped more than 3% Friday slumped Friday as an agreement related to compensation for the transfer in ownership of Alibaba Group’s online payments service Alipay failed to impress Wall Street. Citigroup analyst Mark Mahaney contended that, while the agreement “removes some uncertainty, Yahoo appears to have become a forced seller of one of its key Asian assets.”
Genworth Financial Inc. (NYSE: GNW) rallied more than 5% after mortgage insurer said that it is taking steps to possibly split up the company, said its Chief Executive Michael Fraizer on a post-earnings conference call, sending its shares up 6 percent on Friday afternoon. Fraizer said it would make sense splitting the company into two, but added that its not a "strategy to execute in the near term."
NXP Semiconductor NV (NASDAQ: NXPI) slumped more than 3% after the company slashed its outlook for near-field communication chip shipments in 2011 as mobile-phone operators expand wireless payment systems more slowly than expected. NXP now expects NFC deliveries at the lower end or “perhaps even slightly below” an initially predicted range of 40 million to 100 million units, Chief Executive Officer Richard Clemmer stated.
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