Yahoo: Stop freaking out about Alibaba spinoff taxes

May 20, 2015 11:33 AM

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Yahoo said that IRS won't be taxing the spinoff of its giant Alibaba stake. That means the major drop in Yahoo's shares on Tuesday was likely an overreaction.

Shares of Yahoo (YHOO, Tech30) rebounded a bit Wednesday in premarket trading after tanking 8% Tuesday afternoon.

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