SUNNYVALE (CBS/AP) — Yahoo’s shares have touched $19 Monday, marking the first time they have traded that high in more than two and half years.
The latest gains extend a rally that has been gaining momentum in recent weeks as Yahoo Inc. buys back its own stock and more investors bet on CEO Marissa Mayer’s ability to turn around the long-struggling company.
Mayer, a former top executive at Internet search leader Google Inc., became Yahoo’s fifth CEO in less than a year when the company hired her in July. Since her arrival, Mayer has vowed to make Sunnyvale, Calif., company a better place to work, refine its online services and roll out more products tailored for smartphones and tablet computers.
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