Oil hits 9-month high; Yahoo's Semel resigns, Yang named CEO
CBS News
Transcript
[Music] the highest crude oil prices in nine months put pressure on stocks and put an end to last week's spectacular rally the Dow lost 26 points the NASDAQ was nearly flat Yahoo made news after the closing bell Terry seml is resigning as CEO he'll be replaced by co-founder Jerry Yang Yahoo's shareholders have been looking to OU semble for some time saying the internet giant has been drif ing under his leadership tougher lending standards and a growing number of unsold new homes has led to the worse outlook for the home building industry in 16 years the National Association of homebuilders predicts the housing market won't turn around until next year feel like a burger how about a burger chain after warning that yearly earnings will fall short of expectations Wendy's says it's exploring a possible sale among the possible suitors Yum brands which owns KFC and Taco Bell a big day for blu-ray Blockbuster will rent highdef DVDs only in the Blu-ray format in its 1450 stores when it expands its highdea offerings next month that could be a blow to the HD DVD format they've been battling it out since both hit the market last year that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus