Activist investor Starboard Value LP said on Friday it has acquired a "significant" stake in Yahoo Inc and urged the Internet company to explore a merger with AOL Inc.Starboard, the second activist investor to target Yahoo in the last three years, also said the company should quickly "monetize" its Asian assets which exceed the enterprise value of its actual business.Shares of Yahoo rose 4.4 percent to close at $40.60, while AOL jumped 3.7 percent to $44.55, both on Nasdaq.Starboard's call marks the latest chapter in Yahoo's protracted effort to revamp the Internet pioneer whose revenue growth has lagged those of competitors such as Google Inc , Facebook Inc and Twitter Inc.
AOL Inc. (AOL) is a global Web services company with a range of brands and offerings, and a global audience. Shares of AOL traded higher by 3.68% or $1.58/share to $44.55. In the past year, the shares have traded as low as $32.19 and as high as $53.28. On average, 1069650 shares of AOL exchange hands on a given day and today's volume is recorded at 7216677.
Facebook, Inc. (Facebook), is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 2.03% or $1.57/share to $78.79. In the past year, the shares have traded as low as $43.55 and as high as $78.94. On average, 36916200 shares of FB exchange hands on a given day and today's volume is recorded at 28841704.
Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.35% or $2.04/share to $577.10. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1507300 shares of GOOG exchange hands on a given day and today's volume is recorded at 1439807.
Twitter, Inc. (Twitter) is a global platform for public self-expression and conversation in real time. Shares of TWTR traded higher by 0.86% or $0.44/share to $51.89. In the past year, the shares have traded as low as $29.51 and as high as $74.73. On average, 27096200 shares of TWTR exchange hands on a given day and today's volume is recorded at 14113413.
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