Johnson Controls Stock Rises As Elliott Reportedly Takes $1 Billion-Plus Stake

Key TakeawaysJohnson Controls stock moved higher in premarket trading Monday after Bloomberg reported that activist investor Elliott Investment Management has taken a stake of more than $1 billion in the company.Elliott's reported investment in the company comes at a time when the industrial conglomerate is exploring selling several non-core businesses and has seen a number of senior executive changes.A break above key chart resistance around$70 could lead to a retest of the stock’s all-time high at $81.77 ...