BUZZ-U.S. Stocks on the Move-Apple, Janus, Yahoo, biotech stocks

Fri Sep 26, 2014 3:36pm EDT
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U.S. stocks were climbing in the early stages of trading 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 0.98 percent at 17,112.09, the S&P 500 was up 0.82 percent at 1,982.12 and the Nasdaq Composite was up 1 percent at 4,511.60.

** YAHOO INC, $40.56, +4.13 pct

** AOL INC, $44.42, +3.37 pct

Activist investor Starboard Value LP said on Friday it has acquired a "significant" stake in Yahoo and urged the Internet company to explore a merger with AOL.

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.