Sotheby's Shares Surge Following News of Increased Stake by Loeb's Third Point

Shares of Sotheby's (NYSE: BID ) have surged about 3 percent in afternoon trade Monday following a 13D filing from Dan Loeb's Third Point LLC. Sotheby's shares are now trading around $47.60. The 13D filing from Third Point showed a brand new 5.7 percent stake, or 3.925M shares, in the