PepsiCo plans to cut prices and eliminate some of its products under a deal with an activist investor announced Monday.

CNN imageEllliott Management, a top activist shareholder firm, disclosed Monday that it has taken a $3.2 billion stake in AT&T. The activist investor also called for AT&T to buy back more stock, increase its dividend and pay down debt. Trump said in two tweets that the Elliott stake was "great news," adding that perhaps Elliott "will now put a stop to all of the Fake News emanating from its non-credible 'anchors.'" It's also worth noting that Elliott's stake, while significant, makes it just the sixth-largest institutional owner in AT&T, at a little more than 1%. Elliott Management is run by billionaire investor Paul Singer, who famously battled Argentina over its mutlibillion dollar debt defaults.