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John Minchillo / AP

Shares of the electronic health record company Athenahealth soared by more than 17% this morning after Paul Singer, the activist investor who runs the hedge fund Elliott Associates, bought more than 9% of Athenahealth's stock, according to a Securities and Exchange Commission filing. Athenahealth has about $1 billion of revenue and sells most of its cloud-based technology to doctors and small hospitals.

The filing says Singer is willing to shake up the board of directors, push for a sale or make changes to the management team, which is led by CEO Jonathan Bush — the cousin of Jeb and George W. Bush. Investors recently hammered Athenahealth after the company registered a poor first quarter.

Between the lines: Changes usually occur after an activist investor like Singer takes a hostile stake, and this could lead to some fireworks given Bush's candid personality. Athenahealth and Elliott Associates did not immediately respond.

Go deeper

Virginia lawmakers vote to legalize marijuana in 2024

Virginia Gov. Ralph Northam. Photo: Alex Edelman/Getty Images

Lawmakers in Virginia on Saturday approved compromise legislation that would legalize marijuana in 2024, putting the state a step closer to becoming the first in the South to end prohibition on the drug, the Richmond Times-Dispatch reports.

Why it matters: The legislation will make Virginia the 16th state to legalize marijuana, per Politico. It would add to a slate of laws that have seen Virginia move in a more progressive direction during the tenure of Gov. Ralph Northam.

Scammers seize on COVID confusion

Data: FTC; Chart: Sara Wise/Axios

Scamming has skyrocketed in the past year, and much of the increase is attributed to COVID-related scams, more recently around vaccines.

Why it matters: The pandemic has created a prime opportunity for scammers to target people who are already confused about the chaotic rollouts of things like stimulus payments, loans, contact tracing and vaccines. Data shows that older people who aren't digitally literate are the most vulnerable.

14 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.