Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Southwest shares jump after activist Elliott buys $2B stake By: FOX Business June 10, 2024 at 11:03 AM EDT Elliott Investment Management on Monday told Southwest it should make leadership changes and take other actions, arguing the carrier needed to improve its financial performance. Southwest Airlines shares jumped on Monday after activist investor Elliott Investment Management took a $2 billion stake in the carrier.Elliott, in a letter sent to Southwest's board on Monday, called on the airline to make leadership changes and take other actions, arguing the carrier needed to improve its financial performance.CLICK HERE TO READ MORE ON FOX BUSINESSIn the letter, Elliott executives said Southwest should remake its board with "new, truly independent directors" and hire new leadership from outside the company. It also urged the carrier to form a committee to "evaluate all available opportunities to rapidly restore the Company’s performance to best-in-class standards." The airline’s shares posted a nearly 7% increase in the morning as investors reacted to Elliott’s investment. The activist investor’s stake was first reported by The Wall Street Journal.SOUTHWEST CEO SAYS AIRLINE MULLING CHANGES TO ITS OPEN SEATING POLICYFOX Business reached out to Southwest for comment.GET FOX BUSINESS ON THE GO BY CLICKING HERE Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Southwest shares jump after activist Elliott buys $2B stake By: FOX Business June 10, 2024 at 11:03 AM EDT Elliott Investment Management on Monday told Southwest it should make leadership changes and take other actions, arguing the carrier needed to improve its financial performance. Southwest Airlines shares jumped on Monday after activist investor Elliott Investment Management took a $2 billion stake in the carrier.Elliott, in a letter sent to Southwest's board on Monday, called on the airline to make leadership changes and take other actions, arguing the carrier needed to improve its financial performance.CLICK HERE TO READ MORE ON FOX BUSINESSIn the letter, Elliott executives said Southwest should remake its board with "new, truly independent directors" and hire new leadership from outside the company. It also urged the carrier to form a committee to "evaluate all available opportunities to rapidly restore the Company’s performance to best-in-class standards." The airline’s shares posted a nearly 7% increase in the morning as investors reacted to Elliott’s investment. The activist investor’s stake was first reported by The Wall Street Journal.SOUTHWEST CEO SAYS AIRLINE MULLING CHANGES TO ITS OPEN SEATING POLICYFOX Business reached out to Southwest for comment.GET FOX BUSINESS ON THE GO BY CLICKING HERE