BUZZ-U.S. Stocks on the Move-Yahoo, Apple, Violin Memory, Sears
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U.S. stocks were climbing in the early afternoon on Friday, with major indexes bouncing back modestly from their biggest drop since July, after data showed the economy grew at its fastest pace in more than two years.
The Dow Jones industrial average was up 0.45 percent at 17,022.88, the S&P 500 was up 0.29 percent at 1,971.74 and the Nasdaq Composite was up 0.37 percent at 4,483.407.
** YAHOO INC, $40.405, +3.74 pct
** AOL INC, $44.43, +3.40 pct
Activist investor Starboard Value LP said Yahoo should consider a strategic combination with AOL to save more than $1 billion in costs.
Starboard also urged Yahoo to cut expenses and look for ways to generate value for shareholders from its stakes in Alibaba Group Holding Ltd and Yahoo Japan Corp.