Like Steve Ballmer, Wall Street appears to be getting tired of Yahoo's waiting game (YHOO).

It has been a while since big shareholders like Legg Mason's Bill Miller came out publicly to say that Microsoft (MSFT) needs to raise its bid to $35 a share. Privately, we hear, some big shareholders are increasingly grumbling that Yahoo is grasping at straws and getting terrible M&A advice. The market is increasingly concluding that Microsoft won't raise its
offer (thus the stock drop yesterday, despite Yahoo's letter to Steve
Ballmer). As MarketWatch's Therese Poletti observes, even sell-side analysts are starting to pile on the company:

"Yahoo management position is still that Microsoft's bid is too low and
undervalues the company," said Charles Di Bona, a Bernstein analyst, in
a note to clients. "Investors are becoming increasingly skeptical and
there appears to be growing concern that this view is both unrealistic
and self-interested on the part of Yahoo's management"...

On Feb. 11, Cowen & Co. wrote that Microsoft could take its bid to
at least $35. But on Monday