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"We expect a commercial agreement for search between Microsoft and Yahoo by the time these two companies report their June quarter earnings," Aggarwal wrote in a note on Thursday. "As we highlighted numerous times before, a likely search deal between Microsoft and Yahoo can very likely give $8 to $10 per share lift to Yahoo and increases Microsoft's likelihood to emerge as the second most compelling Internet advertising company."
Microsoft and Yahoo have been talking about a potential deal for months. Negotiations are being led by Qi Lu, a widely respected engineer and a former Yahoo search executive who now runs Microsoft's online services group.
Together, Microsoft and Yahoo would deliver about 30 percent of all Internet searches in the United States.
According to comScore, Google's market share in April was 64.2 percent versus 20.4 percent for Yahoo and 8.2 percent for Microsoft.
But Yahoo search executives, speaking at an event on Tuesday, said a new Yahoo search service, known as BOSS, is carrying out almost as many searches as Microsoft's Live search engine.
Prabhakar Raghavan, head of Yahoo Labs and Yahoo Search Strategy, said the BOSS platform, which powers a multitude of smaller,
customized search engines, is processing 35 million queries a day, compared to 40 million for Microsoft.
Intel corporate responsibility report mum on European fine: Santa Clara chip-maker Intel this week unveiled its annual "corporate responsibility report," a 108-page compendium that CEO Paul Otellini says in the forward shows "our commitment to corporate responsibility is unwavering."
Among other highlights, the report notes that Intel has committed $120 million to improve math and science education over the next decade, while also investing more than $23 million in energy efficiency and conservation projects since 2001. It also says its employees volunteered more than 1.3 million hours to various causes around the world in 2008.
Nowhere does it say anything about the $1.45 billion fine the European Commission slapped it with last week for allegedly engaging in anti-competitive practices.
However, the report does contain a paragraph on "antitrust issues," which says the company "is engaged in a series of private litigations and regulatory investigations prompted by complaints from its primary competitor."
While not mentioning the name of the competitor --Advanced Micro Devices of Sunnyvale -- the report notes that "our conduct has always been lawful, pro-competitive and beneficial to consumers."
Intel plans to appeal the fine.
Kana CFO quits sixth gig in 10 years: Michael Shannahan, who joined Kana Software less than 14 months ago, retired from the Menlo Park developer of customer communication software Monday in order to "pursue other interests," the company said in a regulatory filing Tuesday.
It would be the end of Shannahan's sixth chief financial officer gig in 10 years, having also served in that capacity at Medsphere Systems, a software company in the health care industry from February 2005 until joining Kana; at Chordiant Software, a management software company from October 2003 to September 2004; at Sanctum, a Web applications security company from October 2001 to November 2002; at Broadband Office, a communication services company, from January 2001 to September 2001; and at mySimon, an e-commerce company from August 1999 to January 2001. Before that Shannahan spent 18 years at the accounting firm of KPMG Peat Marwick.
Shannahan, who had served as a director on Kana's board since 2005, was given a $275,000 annual salary along with a signing bonus of $11,458 when he joined the company in March 2008. No mention of severance payments was made in the departure announcement.
He was replaced on an interim basis by the company's chief administrative officer, Jay Jones, who joined Kana in September 2006 after working at Veritas Software since 1999.
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