microsoft thinks yahoo is worth $33 with msft execs, yahoo thinks they're worth $37 with their own execs, the general public thinks they're worth... uh... well before the msft news broke, around $19. either yahoo execs have huge egos and think they're worth 2x as much, or the rest of the world is dumber than the yahoo execs. there's a lot of smart people out there (i.e. all the analysts) and there is no way the yahoo execs are 2x as smart as everybody else.
maybe yahoo has something up their sleeves. like a new social network or something. but then again, they've had very little innovation come out of there in the last few years, so i'd put my bets at $20-22 / share when the market closes on monday.