Yelp Explodes on Deal Talk; Stocks Gain Ahead of Jobs Report
Stocks posted modest gains Thursday, breaking free from a two-day selloff, as Wall Street showed cautious optimism ahead of the April jobs report out on Friday.
Yelp (YELP) exploded in the afternoon session on reports it is exploring a sale. The online reviews site has reportedly met with investment bankers and potential buyers in recent weeks. Yahoo! (YHOO) topped the S&P 500 after Alibaba (BABA) exceeded sales estimates in its recent quarter. Yahoo! owns a $39 billion stake in Alibaba. Whole Foods (WFM) was the worst performer on the S&P 500 after its quarterly sales disappointed. Stocks posted modest gains, breaking free from a two-day selloff, as Wall Street showed cautious optimism ahead of the April jobs report out on Friday. The energy sector capped gains on the S&P 500 as oil declined.
