Why Fiat Chrysler's Stock Surged Today
Shares of Fiat Chrysler Automobiles (NYSE: FCAU) were trading higher on Tuesday afternoon. FCA and French automaker Peugeot (OTC: PUGOY) said in a joint statement that they have agreed to revise the terms of their merger agreement, which will create the world's fourth-largest automaker when it closes next spring. As of 3 p.m. EDT on Tuesday, FCA's shares were up about 7.9% from Monday's closing price.