Today, the world's second largest internet search engine, Yahoo! Inc. (NASDAQ:YHOO), announced it has reached an agreement with Carl Icahn to settle their pending proxy dispute related to the Company's 2008 annual stockholders' meeting. Eight members of Yahoo!'s current Board of Directors will stand for re-election at the meeting, according to the terms of the settlement agreement, and following the meeting the Board will be expanded to 11 members. Carl Icahn will be appointed to one of the seats, and the remaining two seats will be filled based on the recommendation of the Board's Nominating and Governance Committee, from a list of nine candidates recommended by Mr. Icahn. As part of the agreement, Mr. Icahnm, who owns 4.98% of Yahoo! common stock, agreed to withdraw his nominees for consideration at the annual meeting and to vote his Yahoo! shares in support of the Board's nominees. Shares of Yahoo! were down 70 cents to $21.75 in late morning trading.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html