Yahoo has been trading higher overnight following its earnings report on comments made about Chinese internet company Alibaba which Yahoo owns 25% of and is preparing for an IPO. Yahoo announced that Alibaba's total revenues last quarter were $3.0B up 66% while net income doubles to $1.35B, which could potentially increase the value of Alibaba's upcoming IPO Yahoo! and Intel both reported EPS of $0.38 both beating the street by a penny.