Street Calls of the Week
Investing.com -- Shares of construction firm Fluor Corp rose 4.5% in premarket trading on Tuesday after activist investor Starboard Value took a nearly 5% stake in the company.
According to two sources familiar with the matter, Starboard is aiming to unlock value from Fluor’s 40% holding in NuScale Power.
Starboard founder Jeff Smith is expected to outline the firm’s investment thesis at the 13D Monitor Active-Passive Investment Summit in New York later on Tuesday. During the same event, Smith will also discuss plans for TripAdvisor, another recent target of the activist investor.
Meanwhile, shares of NuScale Power fell 4.4% in premarket trading.
Citigroup analysts noted that Starboard’s stake supports their view that Fluor’s shares have room to gain. The analysts cited potential value in the NuScale holding and possible improvement in Fluor’s core operations as factors that could drive share price growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.