Yahoo, once the darling of Silicon Valley and one of the most prominent names on the Internet, was founded in 1994. It remained a dominant player for years but gradually lost its shine with competition coming in from Google, Facebook Inc and others.
The Chinese government is putting in efforts to stabilize the currency markets. The central bank of the country adding verbal support to the exchange rate following a drop in the currency's value in the past week against the green back to point that was lower than a key level.
Oil futures are still dropping. On Friday, they ended the session at two month's lowest level as oversupply worries intensified following a data, revealing a rise in U.S. oil rig counts last week. It was a four weekly rise in a row. A strong dollar also played a major role in keeping prices low.
Reportedly, Verizon Communications Inc. has agreed to buy Yahoo Inc for $4.8 billion. The deal expected to be announced officially on Monday, will end Yahoo's long drawn auction process and uncertainties.
Southwest airline faced a computer router failure on Wednesday which caused a breakdown in several technology systems resulting in delays and cancelled flights on Wednesday, Thursday and Friday. Later on Friday, the company said those systems were fully restored.