Yahoo's new path murky after Alibaba 分裂（する）
It's do-or-die time for Yahoo and Marissa Mayer.
After cutting the cord with 中国's Alibaba, the high-profile Yahoo 長，指導者 (n)役員／(a)執行力のある 直面するs more 圧力 than ever to reinvent the fading Internet 星／主役にする.
This week's 税金-解放する／自由な spinoff of Yahoo's $40 billion Alibaba 火刑／賭ける leaves the California tech group with a 核心 of 資産s but no （疑いを）晴らす path or 使節団, 分析家s say.
Yahoo CEO Marissa Mayer speaks during her 基本方針演説 at the 2014 International CES in Las Vegas, Nevada, January 7, 2014 ?Robyn Beck (AFP/とじ込み／提出する)
Roger Kay of Endpoint 科学（工学）技術s Associates said the move 許すs Yahoo to "打ち明ける the value" from its 火刑／賭ける in the Chinese 会社／堅い but fails to answer questions about Yahoo's 未来.
"It's got a （疑いを）晴らす brand identify and a lot of 価値のある 資産s," he told AFP.
"But it's a company from last year's 商売／仕事 model and there isn't an obvious way to turn it into something to 生成する a lot of growth."
Mayer arrived at Yahoo's 舵輪／支配 in July 2012 after rising through the 階級s at Google to become one of the most 目だつ women in 科学（工学）技術 and 法人組織の／企業の America.
Her "星／主役にする 質" created new ene rgy around the 会社／堅い and fuelled hopes for a return to the glory days when Yahoo was the 主要な search engine and Internet portal.
She has made some 肯定的な steps, 調印 尊敬（する）・点d television 錨，総合司会者 Katie Couric for Yahoo's news team and 開始する，打ち上げるing new services such as live online concerts.
But Kay 警告するd any 試みる／企てる by Yahoo to 埋め立てる its 役割 as a search engine would be "a dead end."
"Search is dead for Yahoo," he said. "Google has the search 科学（工学）技術 and Yahoo doesn't. I don't see any 未来 in search for Yahoo, but content is 利益／興味ing."
Kay said Yahoo has made some inroads as a 目的地 for live music, ビデオ, news and other content but not enough to fundamentally change its 商売／仕事 model.
"Yahoo needs to get something 排他的に that's so important for people to have. They need a runaway 攻撃する，衝突する," he said.
Colin Gillis, 分析家 at BGC Partners, said Mayer "has bought herself some more time to turn the 商売／仕事 around, making 株主s happy with the Alibaba spin, not using that money for 取得／買収s but returning it to 株主s.
"But of course, once Yahoo is separated from that 資産, the 焦点（を合わせる） on the 核心 商売／仕事s is going to 強める," he 追加するd.
- 消極的な value of 核心? -
Yahoo has been in an unusual position of 持つ／拘留するing a 価値のある chunk of Alibaba 価値（がある） around $40 billion and a 株 of Yahoo Japan valued at some $7 billion.
Take this away and, によれば some 分析家s, you leave the 残り／休憩（する） of Yahoo 事実上 worthless, or even with a 消極的な value.
財政上の results 解放（する）d on Tuesday showed Yahoo 歳入 ess entially flat over the past ４半期/4分の1, and the 十分な year 2014.
The jump in 利益（をあげる） for the year to $7.5 billion （機の）カム from the sale of part of its Alibaba 火刑／賭ける.
Some 分析家s and 行動主義者 株主s have 示唆するd that Yahoo 合併する with another first-世代 Internet 会社／堅い, AOL, to 焦点（を合わせる） on content and マスコミ.
But Kay said he does not see that as an answer, joking that "two boat 錨，総合司会者s doesn't make for a flotation 装置."
勝利者 Anthony, 分析家 at Topeka 資本／首都 Markets, called Yahoo's results "lackluster" and 示唆するd that once the spinoff is 完全にする "an 取得／買収 シナリオ is likely to develop for 核心 Yahoo."
Yahoo fended off a 引き継ぎ／買収 企て，努力，提案 from Microsoft in 2008 and has 大部分は 小衝突d aside talk of 合併するing with AOL. But its 未来 path remains 不明瞭な に引き続いて the Alibaba 分裂（する）.
Trip Chowdhry at 全世界の 公正，普通株主権s 研究 said Yahoo needs to develop new 製品s but has been "unable to innovate."
"The 存在するing 商売／仕事 is in a slow and 拒絶する／低下するing pace." he said.
"And 直す／買収する，八百長をするing this 商売／仕事 just doesn't make sense, because the market is moving very 急速な／放蕩な. You need to do something 劇的な different. and you don't need money for that, you need ideas."
Yahoo has been in an unusual position of 持つ／拘留するing a 価値のある chunk of Alibaba 価値（がある） around $40 billion and a 株 of Yahoo Japan valued at some $7 billion ?Karen Bleier (AFP/とじ込み／提出する)
