BUZZ-Macy's: jumps after Starboard's Smith mentions it as best new idea

Wed Jul 15, 2015 11:49am EDT
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** Macy's shares up more than 4 pct and poised for a retest of record highs after Starboard's Jeff Smith mentions stock as best new idea

** Smith discloses investment in Macy's, sees stock worth $125/share, CNBC reports

** Stock sees one of its best days this year on heavy volumes as big downside gap that opened late June gets filled

** Starboard, an activist hedge fund, has in the past taken stakes in companies like Darden, Staples, Yahoo and RealD and pushed for changes