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Yahoo results disappoint

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Yahoo has reported disappointing second quarter results, with net income down to $131-million from last year's $161-million.

CEO jerry Yang says the company is executing against strategy, while CFO Blake Jorgensen believes the company posted solid results in a difficult economic environment.
The company is predicting third-quarter revenue of $1,78-billion to $1,98-billion.
On Monday, investor Carl Icahn, together with two people nominated by him, were given seats on the board. In return, they agreed not to go ahead with a proxy fight at next week's shareholders' meeting.
He is expected to push for Yahoo to accept an offer from Microsoft to buy the company in whole or part.