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Southwest Shares Jump After Activist Fund Buys 11% Stake—And Calls For CEO's Ouster
OUSTOuster(OUST) Forbes·2024-06-10 23:50

Shares of Southwest Airlines rose 9% on Monday and headed toward their largest single-day gain in nearly four years, after activist firm Elliott Investment Management announced a nearly 2billionstakeinthecompanyandcalledtoousttheairlineschiefexecutiveandboardchair.Southwestsharesroseto2 billion stake in the company and called to oust the airline's chief executive and board chair. Southwest shares rose to 30.25 Monday morning, on track for the company's largest single-day jump since November 2020. Savanthi Syth, an analyst for the investment bank Raymond James, said it is "unclear if a management change ...