Yahoo May Reshuffle

The Wall Street Journal reports Yahoo (YHOO) is planning a reorganization after successfully fending off a takeover attempt by Microsoft (MSFT).

Yahoo president Susan Decker is pushing a plan to centralize its product groups, such as its mail, search and home-page divisions into a global-product organization in part of Decker’s effort to improve communication between the product teams and overseas-sales groups. Details could be announced as soon as next week.

Todd mentioned Yahoo in yesterday’s Toddo on TV:

From the Bull Pen: Toddo mentioned Yahoo could get interesting as a long play should the stock fall to its pre-Microsoft level to $19. If and when.

From the Bear Cave: Tech bears can still consider Google (GOOG) for a downside play. Buy-stops can be set above its 200-DMA ($575).


Oil Rising on Middle East Tensions

Crude oil is rising this morning due in part to tensions in the Middle East. According to the New York Times, military exercises carried out by Israel have some believing the country could be preparing itself for a potential attack on Iran’s nuclear facilities. Over a hundred Israeli F-16 and F-15 fighter jets participated in maneuvers over the eastern Mediterranean and over Greece during the first week of June. Helicopter and refueling tankers flew over 900 miles which is also the same distance between Israel and Iran.
See Professor Jeff Macke’s thoughts on oil in yesterday’s Bear Stearns Arrests Have Little Effect.

From the Bull Pen: Those believing high oil prices are likely to continue can play the oil ETF (USO); sell-stops may be place below the 50 DMA ($100.50).

From the Bear Cave: Bears believing oil prices will eventually correct can play the inverse oil & gas ETF (DUG) which tracks twice the inverse of the D.J. U.S. oil and gas index. Entry near the $25-26 range could be an option.


For more ideas in real time throughout the trading day, check out Minyanville’s Buzz & Banter.


Quick Check Around the World

Asian trading closed with the Hang Seng 0.23%, Nikkei -1.33%, Sensex -3.42%, Taiwan -1.81% and Shanghai +3.01%.

Quickly glancing towards Europe, we see the CAC -0.94%, DAX -1.37%, FTSE -0.87%

As of 8:00 AM EST, S&P futures are lower -8.3 points to 1333, and Nasdaq Futures are down -12.25 points to 1978.


A Look At Commodities

Commodities are mostly higher. Crude oil is up +2.34 to 134.28. Gold is higher +1.40 to 903.10. Silver is trading up +0.060 to 17.530, and copper is up +3.20 to 377.75.

The dollar index is down -0.459 to 73.033.


On the Radar

No economic events on the radar today but it is Quadruple Witching day.

Happy Friday! Good luck!