- EQT Corp. (NYSE:EQT) +3.4% after-hours as Reuters reports Toby and Derek Rice have gained enough shareholder votes to win control of the company's board, two years after selling the company.
- If investors vote the Rice brothers in, "the kind of change they are voting for is a pretty dramatic shakeup," says Tudor Pickering Holt's Sameer Panjwani. "The message they have been campaigning for has been enhanced free cash flow, and that is really the main thing the market is looking for today. That’s definitely why they have traction."
- Electing the Rice slate would result in "a weaker board and managerial chaos," and Toby Rice is not fit to lead a public company, EQT has said.