CenturyLink's move will likely obviate the need for more aggressive tactics from Keith Meister, an activist investor who's known for forcing management's hand.
As talk of fiscal reform gained steam over the last quarter, the biggest hedge funds may be banking on tax cuts as they charged into consumer discretionary stocks.
Some shareholders cheer as Corvex's Keith Meister pushes to remake CenturyLink in Level 3's image. A brutal proxy contest could lie ahead if CenturyLink's cozy board doesn't comply.
Yelp's latest management misstep comes as competition is intensifying and activists are pressuring other struggling Internet companies to sell.