The Hot Stock: CSX Surges 23%
January 19, 2017 at 16:52 PM EST
CSX ( CSX ) surged to the top of the S&P 500 today on hopes that an activist campaign is in the works. Shares of CSX jumped 23.4% to close at $45.51, while the S&P 500 fell almost 0.4%. It was a strange turn of events that fueled today’s stock price gain. The CEO of rival Canadian Pacific ( CP ), Hunter Harrison quit today and then announced plans to team up with an activist investor and convince the CSX board to hire him in a senior position.