Nelson Peltz Takes $2.5B Stake in GE

FOXBusiness

Twitter names Jack Dorsey CEO

Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, Trian’s stake in GE and Twitter’s CEO.

Green Acres -- not just a T.V. show from the '70s. It was a good description for the markets on Monday as the major market averages all finished up at least 1.5%.

Continue Reading Below

The Dow jumped 304 points, and at the high rose 326 points. As for the S&P 500, it soared nearly 36 points to log its fifth straight day of gains. This is the S&P 500's longest winning streak since December.

And the Nasdaq had its fourth straight day of gains with a 73-point jump Monday. The tech-heavy index is now positive for the year. All the major averages are now out of correction territory.

A big name investor jumps into a major stock. Nelson Peltz is what's called an activist investor and his firm, Trian, is taking a $2.5 billion stake in the company, making it the firm's largest investment to date.

Peltz said in a statement that he found GE to be "undervalued" and under appreciated. GE stock jumped more than 5% on the news.

Peltz's power as an activist may have been at play with DuPont stock. Late breaking news after the bell: DuPont CEO Ellen Kullman is "out." Kullman had tussled with Peltz when he agitated for change at DuPont. The company's stock was up 4% in after hours trade.

And the little blue bird is flying high after finally reaching a decision on its new CEO. The Twitter board has decided to keep Co-Founder Jack Dorsey in the role of CEO. Dorsey will not get a paycheck to be CEO, but as the largest shareholder of Twitter, he currently has a $575 million stake. Shares of Twitter were up 7% Monday.

What do you think?

Click the button below to comment on this article.