Yahoo! Inc: CFO Leaves, Icahn Buys More, Shares go Up

Yahoo! Inc. (NASDAQ:YHOO) CFO is out, Icahn buys more shares and the company is under a reorg. Investors couldn't be happier, YHOO shares are up 5% today and over $13 a share.

Yahoo's CEO Carol Bartz is getting rid of the "silos" that slowed down the company. Bartz, who took the reins six weeks ago, announced the changes in a blog post on Thursday, as well as in an e-mail to Yahoo employees.

"Today I'm rolling out a new management structure that I believe will make Yahoo a lot faster on its feet," Bartz wrote on the corporate blog. "We'll be able to make speedier decisions, the notorious silos are gone, and we have a renewed focus on the customer."

Yahoo's technology and product groups will be combined into one entity led by Chief Technology Officer Ari Balogh, according to Bartz's email to employees.

Carl Icahn bought at the right time, this week he purchased 6.8 million shares of Yahoo stock, boosting his stake in to nearly 5.5%.  Icahn spent roughly $67 million to purchase the shares for an average of $9.88 each, according to papers filed with the SEC.

Best of luck YHOO longs, its starting to look tempting, management is making the right decisions.