A hedge fund just asked Kate Spade to sell itself — and shares soared (KATE)

Kate Spade's shares surged on Monday after a hedge fund sent its board a letter pushing for a sale of the company.
The letter, which was first reported by Business Insider, came from the New York-based hedge fund Caerus Investors and urged the board to consider a sale.
"We have become increasingly frustrated by management's inability to achieve profit margins comparable to industry peers," Caerus' founder, Ward Davis, and managing partner, Brian Agnew, wrote.
"Given the market's lack of fai