Yahoo Delivers Message to Activist Starboard: Back Off

Yahoo! Inc. Chief Executive Officer Marissa Mayer delivered a message yesterday to activist shareholder Starboard Value LP: I’ve got this.

Mayer began a defense of her leadership yesterday with a third-quarter earnings report that included sales that topped analysts’ estimates. She followed up with a conference call where she talked up her stewardship of the company, ticking off a list of points to show that her turnaround effort is making progress. Mayer argued she has a clear acquisition strategy for growth and said she is focused on maximizing value for shareholders. The shares jumped as much 5.8 percent today, for the biggest intraday increase in more than six months.