Reuters
David Tepper announced on Tuesday that his hedge fund, Appaloosa Management, has a 7.4% stake in the satellite company Intelsat. He's using his position to pressure the company to renegotiate terms in a deal it's facing with the Federal Communications Commission.
The stock was up as much as 6.92% in early trading Wednesday. That's after a surge Tuesday, when shares traded as high as 33.98% above the previous day's close, ending trading up 26.2%.See the rest of the story at Business Insider
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