Activist investor Jana Partners has taken a 5% stake in Lamb Weston (LW), known for being the biggest french fry producer in the US and supplier to fast-food chain McDonald's (MCD). Lamb Weston's stock jumped by over 10% in Friday's session.

This comes after Lamb Weston shuttered its plant in Connell, Washington, and reduced its workforce by 4% earlier in October, all part of a new cost-cutting initiative.

Market Domination hosts Julie Hyman and Josh Lipton report more on these developments.

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This post was written by Luke Carberry Mogan.