Yahoo stock price is up on Microsoft hopes

Yahoo’s stock price is up, riding hopes that the company’s once-spurned suitor, Microsoft, will come calling with another takeover bid. Microsoft could return because Yahoo has said it is mulling a possible sale.

The shares soared more than 10 percent Wednesday after Reuters reported that Microsoft Corp. is considering making an offer.

The report fed speculation that has swirled around Yahoo Inc. since it fired Carol Bartz as CEO five weeks ago. Reuters cited unnamed sources it said included a high-ranking Microsoft executive.

In May 2008, Yahoo turned down an opportunity to sell itself to Microsoft for $33 per share, or $47.5 billion in all. The shares closed Wednesday at $15.92 after retreating in late afternoon.

A Microsoft spokesman declined to comment.