Consumer
Starbucks Jumps After WSJ Reports Elliott Bought a Stake
Starbucks shares rose as much as 6.8% on the news, their biggest gain since Nov. 2.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Elliott Investment Management has amassed a sizable stake in Starbucks Corp., according to a report in the Wall Street Journal, as the coffee chain contends with a pullback in demand.
Elliott is engaging with the company and is pushing it to find ways to boost the stock price, the Journal reported, citing people familiar with the matter.