Yahoo Inc. (NDAQ: YHOO) has suddenly turned into one of the most active dealmakers in its bid to reduce the pressure from shareholders. A whirlwind of new deals were announced today with advertising partners ranging from Wal-Mart Stores (NYSE: WMT) to CBS Corporation (NYSE: CBS). Meanwhile, the company is desperately trying to strike a deal with Microsoft in leiu of an outright acquisition.

Shareholders like Carl Icahn are still not satisfied and are demanding a sale of the company. Many are not impressed that it took Yahoo this long to "rewrite" the company and turn it around. After all, if management was so confident in the company then why has the stock been stagnant for so long? To many investors, it comes down to a vote of confidence. Management still faces a lot of opposition that could prove difficult to qwell without a sale.

According to many shareholders, Yahoo must overcome a large (and growing) gap with Google in the search market in order to win back investors. And that might take a little longer than most shareholders are willing to wait...

Related Companies
Google Inc. (GOOG)
International Business Machine Corp. (IBM)