Volume Spike Investor

Yahoo Inc. (Nasdaq: YHOO) shares fell more than 4 percent to $16.03 in early premarket trading of more than 34,000 shares. following disappointing guidance last night and less-than-expected search revenue. The company’s operating earnings of 16 cents a share was roughly in line with estimates. But search revenue declined 15 percent vs. analyst expectations of only a low single-digit decline. For Q3, the company guided revenue to a range of $1.45 to $1.55 billion, short of estimates closer to $1.6 billion. EBITDA at the midpoint of the company’s guidance was a range of $330 to $370 million, short of consensus expectations of $424 million. — Mike Tarsala