Yahoo Shares Climb Following News Of Fired CEO

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We just heard about twelve hours ago from our own J. Angelo Racoma that Yahoo’s CEO, Carol Bartz, had been quite thoroughly canned via a phone call, which she then followed up with via a terse goodbye message sent from her iPad. Well, the early response from Wall Street to Bartz’s termination is in, and it’s been overwhelmingly positive. And it’s showing up in the stock price.

Early trading on Yahoo stock, (NASDAQ: YHOO) which changes by the minute, showed the stock was up fully five percent on the news that Bartz had been let go. Checking on the Yahoo price again reveals there’s been some profit-taking going on, so the current price is off its daily highs, but the plain and simple is, the market was fairly dancing in the street on the news that Bartz was out. Of course, it could have been that the market was reacting happily not to Bartz’s termination, but to the fact that Yahoo CFO Tim Morse is temporarily stepping in until a new CEO can be found. Fiscal responsibility plays very well to some corners of Wall Street, and with the CFO in the top slot he’s most likely to know what the company can and cannot do in terms of cash flow.

The board, for its part, said that Bartz’s firing was part of an overall strategy on the part of the Yahoo board to improve Yahoo’s position in the overall marketplace. Roy Bostock, the man who delivered the telephone firing, put out a press release which read in part:

“The Board sees enormous growth opportunities on which Yahoo! can capitalize, and our primary objective is to leverage the Company’s leadership and current business assets and platforms to execute against these opportunities. We have talented teams and tremendous resources behind them and intend to return the Company to a path of robust growth and industry-leading innovation. We are committed to exploring and evaluating possibilities and opportunities that will put Yahoo! on a trajectory for growth and innovation and deliver value to shareholders.”

Just how Carol Bartz’s firing will help realize those “enormous growth opportunities” the board somehow sees is, as yet, unclear.

So what do you guys think of this? Will Carol Bartz’s firing turn the tables for Yahoo? Or is it already too late for Yahoo? No matter what you think, the comments section is waiting for your thoughts below, so head on down and tell us what you think!