Wall Street Journal
Yelp Stock Soars: Activist Investor Recommends Exploring Sale At Double Value
Activist investor TCS Capital Management has built a stake in Yelp Inc (NYSE: YELP) and urged the service-recommendation site to explore strategic alternatives, including a sale.
TCS Capital believes that Yelp could be sold to another technology or media company or private-equity buyer for at least $70 a share—or more than double the current stock price.
Semler also proposes to tell Yelp’s board that his investment firm is looking to make its bid to acquire Yelp, with a group that includes an executive who has served as CEO of a public company in the same business.
Reuters
Micron Technology Projects China Ban To Curb Revenues
Micron Technology Inc (NASDAQ: MU) projects the recent China ban on memory chip sales to curb revenues. At a conference on Monday, Micron’s CFO Mark Murphy stated, “We are currently estimating a range of impact in the low single-digit percentage of our company’s total revenue at the low end, and high single-digit percentage of total company revenue at the high end,” reported Reuters.
He further stated that the direct and indirect sales to China-headquartered companies comprised around a quarter of its revenue and cited the lack of clarity on Beijing’s concerns.
Shell’s Singapore Refinery Gets Repair Works At Single Buoy Mooring Facility
Shell PLC (NYSE: SHEL) has reportedly cut crude oil imports at its Singapore refinery this month for maintenance work and repairs at its single buoy mooring (SBM) facility.
Shell is moving crude from Very Large Crude Carriers (VLCC) onto …
