Yahoo! Inc. (NASDAQ:YHOO) has been busy working on developing products for mobile platforms. Recently, the company unveiled four new apps targeting the new Apple Watch, which is due to be released soon. It is predicted that the apps would be available in the market by the end of this month. The four apps included a modified version of Yahoo weather, Yahoo sports fantasy, Yahoo news digest and Yahoo news Hong Kong.
Adam Cahan, the Senior VP of Yahoo Mobile and Video, expressed his delight at the development. He also stated that this has given his company another opportunity to work on its products from a different view point. He also hinted that the apps are made to be more user friendly. He also revealed that each app makes use of a feature from Apple Watch. For example the Yahoo news app offers the latest news with summarized reports to make use of speed reading.
In addition to this, Yahoo has also reached an amended agreement with Microsoft, to improve mobile platform searches and rearrange control over search advertising. Microsoft now holds 51% of search queries on Yahoo. Experts have also hinted that another deal with Google could be in the pipeline, which would make use of the remaining 49% queries. If the deal does indeed take place, analysts believe it would add $5-$10 a share to the company’s stock. Additionally, the deal would also enable Yahoo to make more revenues per search.
Microsoft and Yahoo have been in partnership since 2009 and the current amendments took a month long negotiations. This has given rise to a lot of speculation, with the potential deal with Google being amongst them. The move is being viewed as an attempt by Yahoo to loosen ties with Microsoft over declining share value. Additionally, the deal with Yahoo has previously failed to hold high Yahoo’s revenues per share.
Yahoo! Inc. (NASDAQ:YHOO) closed at $43.69 after losing 0.64% on April 23. The company trades 936.84 million shares in the market with a 52-week range of $32.93-$52.62.