Activists Score Victory at DowDupont; General Electric May Be Next - ICYMI

Here's what you need to know now for Tuesday, Sept. 12.
By Michael Brown ,

Nothing to talk about today but Apple Inc.'s (AAPL) - Get Report  iPhone 8 reveal, right? Wrong.

Markets were abuzz Tuesday as stocks continued to post gains as tax reform promises by the end of the year helped lift the financial sector.

Outside of Cupertino, Calif., the Delivering Alpha conference kicked off with some of the top fund managers and executives in attendance. Among the guests were Trian Fund Management's Ed Garden, JPMorgan Chase & Co. (JPM) - Get Report Jamie Dimon and DowDuPont Inc. undefined  CEO Ed Breen.

Speaking of DowDupont, Breen and his company announced Tuesday morning that they are retooling a planned three-way break-up following the $150 billion merger the companies completed just a short while ago. The move seems to appease Dan Loeb's Third Point LLC. Loeb was agitating for the company to explore a more robust break-up. Trian, managed by Nelson Peltz, was the fund behind the initial merger between the chemical giants.

Next up for Trian will be General Electric Co. (GE) - Get Report  , which recently named John Flannery as its CEO.

Trian's chief investment officer, Ed Garden, said that Flannery, the 56-year-old who turned around GE's healthcare business before succeeding longtime CEO Jeffrey Immelt on Aug. 1, "is part of the solution" for the manufacturer, though he acknowledged that the company must take a hard look at its portfolio of assets.

We'd be remiss if we didn't at least mention the iPhone 8, new Apple Watch and the iPhone X, which Apple unveiled today. But rather than taking the conventional approach as to what the phone will do for Apple or its suppliers, TheStreet digs in to the potential benefits for cell carriers such as AT&T Corp. T and Verizon Communications Inc. (VZ) - Get Report  .

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Photo of the day: A fashionable sense of business.

New York Fashion Week is in full swing with designers and retailers showing off their latest garments. The week-long event is always a star-studded affair featuring the biggest names in sports, entertainment and even politics. Ivanka Trump has been a staple at the event, having attended it with her mother, former supermodel Ivana Marie Trump, since she was a child. Ivanka is pictured above taking in the sights of Fashion Week in 2004. The origins of New York Fashion Week date back to the 1940s but the current iteration wasn't formed until 1993 when Fern Mallis, then Executive Director of the Council of Fashion Designers of America, grouped a spate of fall fashion shows into an event called "7th on Sixth." The event was named after the "7th on Sixth" event management company founded by the CFDA. In 2001, "7th on Sixth" was sold to IMG Worldwide Inc. (now WME-IMG).

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