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NEW YORK (Reuters) - Yahoo Inc and Google Inc will make a joint announcement on Thursday afternoon, the technology blog TechCrunch reported, citing an unidentified source close to one of the companies.
TechCrunch said the announcement is likely to be a search partnership between the two companies that outsources all or part of Yahoo search marketing, and possibly search itself, to Google.
Yahoo shares were down 3.29 percent at $25.29 in afternoon Nasdaq trading. Google shares were up 0.79 percent at $549.50. Shares of Microsoft Corp, which is in talks about a partnership with Yahoo, were up 1.14 percent at $27.43.
All three companies were not immediately available for comment.
Reporting by Michele Gershberg, editing by Dave Zimmerman