Check out the companies making headlines in midday trading.
Yelp — Shares of the online reviewing company jumped more than 9% after activist investor TCS Capital Management took a stake in the firm, saying in an open letter that the company should explore strategic alternatives, including a sale. TCS Capital built up a more than 4% position in Yelp, becoming one of the company’s top five shareholders. TCS said Yelp is “shockingly undervalued” and could be sold to a private equity buyer for at least $70 per share, a more than 120% premium.
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