TriNet jumps on report it's exploring a potential sale

• TriNet (NYSE:TNET) rose 10% on a report it's exploring a potential sale of the payroll services provider.
• The company is working with Morgan Stanley to talk to potential buyers, according to a Reuters report, which cited people familiar. No deal is certain. TriNet (TNET) has a market cap of $5.8 billion.
• TriNet shares were already up 44% year-to-date before the Reuters report. TriNet (TNET) declined to comment to Reuters.
• Private equity firm Atairos owned 36% of TriNet (TNET) as of the end of March. Atairos acquired a stake in TriNet in 2016 through purchasing General Atlantic's stake in the payroll company.
• Trinet (TNET) short interest is 8.2%.

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