General Electric Take Steps To Appease Investors Following Exectives Meeting With Activist Nelson Peltz
Shares of General Electric Company (NYSE: GE) spike higher following Charles Gasparino's FOX Business News article and tweet on Monday.
Gasparino emphasized the concerns and precautions General Electric is taking in regards to activist investors in his report.
— Charles Gasparino (@CGasparino) March 17, 2014
FOX Business Network revealed that General Electric's CEO Jeffrey Immelt invited “famed” shareholder activist Nelson Pelt to meet with his senior management team last August. The company's spokesperson confirmed the Pelt meeting, noting that the discussion centered around the markets in general.
With insight into how an activist thinks about a sector and company, General Electric has made strides in placating investors. The company announced its plan to spin-off the credit card unit, has raised its dividend, and continues to buy back shares.
Following the announcement of the Nelson Peltz Senior management meeting, shares jumped almost one percent from $25.37 to $25.62 before closing at $25.41.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.