The Morning Badger (2/16/17): Yahoo’s Bad Day


Here’s what’s happening that you should know about:

$250 Million

That’s how much less Verizon ($VZ) will pay for Yahoo ($YHOO), changing their acquisition offer to $4.58 billion. Both companies are still discussing the acquisition, which could be lowered by another $100 million. The reasoning behind the lowered valuation is that both companies would have to assume legal responsibility for the data breaches affecting pretty much all of Yahoo’s customers. Despite receiving $250 million less in the future, Yahoo shareholders were thrilled that Verizon still wanted to pick up the company after all their troubles, which caused their stock to go up upon hearing the good news.

Yet Another Yahoo Data Breach

Yahoo also announced that they suffered another hack shortly after Verizon’s lowered acquisition offer came to light. The company started warning their users of another potential data breach in 2015 and 2016 after state-sponsored attackers forged a cookie to forcefully access Yahoo accounts. Yahoo claims they reported this activity in November and December of last year, though users are just being warned now. This would make the third major breach disclosed by Yahoo in less than a year.

$280 Billion

That’s how much big banks gained in combined value since Trump took office. Bank stocks like Goldman Sachs have hit all-time highs in the post-election market, while every major U.S. bank has seen a value increase in the tens of billions. For more on big banks and how they’re doing on the market, head over to Quartz for their post-election market analysis.