US Internet firm Yahoo! is to roll out a redesigned homepage on Tuesday, featuring in-site access to web applications such as Twitter and Facebook.

The firm, which has been loosing ground to rival search engine Google, will launch the new-look site from Tuesday, months ahead of schedule, the Wall Street Journal online reported.

Quoting "people briefed on the plans," the newspaper said Yahoo! had planned an unveiling "as part of a broader rebranding in late September or October."

Company executives will hope the early launch will give the firm a much needed shot in the arm.

Yahoo! is expected to release its second quarter earnings on Tuesday, with traders predicting a dip in earnings.

Screen shots of the redesign, which have been widely circulating on the Internet, show a customizable toolbar on the left of the page, which allows users to choose from their favorite third-party applications.