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As Microsoft, Yahoo, Google, AOL and News Corp. go at it tag team-style, PaidContent rounded up Wall Street's opinion on the proceedings. The bullet-list version, below.

  • Jeff Lindsay, Bernstein: Yahoo-Google "is a shrewd move" worth $5 per share.
  • Ben Schachter, UBS: Google deal is a "pure negotiating tactic" that won't pass regulatory muster. Expect a deal with Microsoft. Yahoo/AOL looks unlikely. "Even if shares were repurchased at $35+/share, the shares likely would pull back once the buyback is done."
  • Doug Anmuth, Lehman: A Google partnership would lead to to 34 percent growth in revenue per search (RPS), but a sacrifice in long term search and display revenues.
  • Rich Greenfield, Pali Capital: Bringing Microsoft, Yahoo and News Corp.'s MySpace together is better than Yahoo pairing with AOL on its own. "And we simply cannot imagine [Microsoft] losing out to AOL, with potential stakes in Myspace (and Facebook) giving them significant insight into the world of social media and advertising."
  • Mark Mahaney and Brent Thill, Citi: "Microsoft-Yahoo is the most likely outcome at a higher price than the initial $31 bid." AOL and News Corp. will only raise the bid.