Viasat shares fall 2.31% premarket after activist investor Carronade Capital Management urged the company to split its defense business.

Viasat, Inc. declined 2.31% in premarket trading. The decline comes as activist investor Carronade Capital Management urged Viasat to split its defense business, which could result in the company's shares trading in the range of $50 to over $100 per share. Carronade Capital Management, which holds a 2.6% stake in the satellite communications firm, called for either a spin-off or an IPO of the Defense and Advanced Technologies (DAT) business, which it claimed is worth $50 per share on its own.