Microsoft and Yahoo on defensive

Microsoft and Yahoo were forced to mount a renewed defence of their search alliance on Thursday as Wall Street continued to punish Yahoo's price over the deal. Investors continued to express concerns about the financial and strategic implications of the deal. Investors have been concerned that Yahoo CEO Carol Bartz has not laid out a clear strategy for the company after it hands over control of its search technology to Microsoft, or explained how she will use the extra cashflow Yahoo expects in the future from the deal.