The most obvious reason were the mixed earnings results from Yahoo.
More Quotes from Scott Kessler:
No matter how big and successful you are, there is always the prospect in the blink of an eye that the business can go down for a period of time,Scott Kessler
I think a lot of folks who were at that meeting felt pretty chagrined, I would argue this is still pretty material information, given the high profile nature of this company and the emergence of click fraud as a high-profile subject.
Scott Kessler
A lot of these companies look at AOL as an entity that has huge traffic, a substantial number of users, a fair amount of subscribers and access to unique and differentiated content and services, ... Right now, it is very prized real estate when it comes to the Internet, particularly because its valuation may be depressed since it is in the midst of an ongoing turnaround, and part of a large conglomerate.
Scott Kessler
Essentially, the company has decided to divest itself of its, by far, most successful and most prized business, and it's going to retain two businesses that I consider challenged at this point.
Scott Kessler
MSN was the one that may have been a logical acquiring company but they are clearly building as opposed to buying,
Scott Kessler
This is a 100 billion publicly traded company with tens of thousands of shareholders. Clearly you have a lot of shareholders that have so far taken a backseat to people who casually happen upon the Web site.
Scott Kessler
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