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Still, shares of the automakers followed the major averages higher. Ford rose 22 cents, or 2.7%, to $8.48. GM shares added 2 cents to $23.22. Toyota rose $1.39, or 1.4%, to $102.89.
Shares are rising 4% in early trading.
The activist, who would own 5.6% of the company if his tender offer for 20 million shares is accepted, made previous attempts to control General Motors and Chrysler.
The activist said he intends to buy 20 million shares of the automaker to increase his stake to 5.6%.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
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