U.S. Markets open in 4 hrs 39 mins
  • S&P Futures

    4,385.75
    -26.00 (-0.59%)
     
  • Dow Futures

    34,909.00
    -65.00 (-0.19%)
     
  • Nasdaq Futures

    14,875.00
    -162.75 (-1.08%)
     
  • Russell 2000 Futures

    2,231.90
    -5.60 (-0.25%)
     
  • Crude Oil

    73.49
    -0.13 (-0.18%)
     
  • Gold

    1,833.50
    -2.30 (-0.13%)
     
  • Silver

    25.67
    -0.11 (-0.42%)
     
  • EUR/USD

    1.1902
    +0.0006 (+0.0476%)
     
  • 10-Yr Bond

    1.2690
    0.0000 (0.00%)
     
  • Vix

    18.89
    +0.58 (+3.17%)
     
  • GBP/USD

    1.3966
    +0.0008 (+0.0545%)
     
  • USD/JPY

    109.5210
    +0.0600 (+0.0548%)
     
  • BTC-USD

    38,943.63
    -1,054.47 (-2.64%)
     
  • CMC Crypto 200

    926.88
    -3.48 (-0.37%)
     
  • FTSE 100

    7,035.60
    -42.82 (-0.60%)
     
  • Nikkei 225

    27,283.59
    -498.83 (-1.80%)
     
  • Oops!
    Something went wrong.
    Please try again later.

Ackman's Pershing Square swaps Starbucks for a slice of Domino's

·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

(Reuters) -Billionaire investor Bill Ackman's Pershing Square Capital Management has taken a stake in Domino's Pizza Inc, the pizza chain said on Wednesday.

Ackman, whose bets on companies are closely watched, told the Wall Street Journal in an interview https://www.wsj.com/articles/bill-ackman-ceos-and-artists-headline-wsjs-future-of-everything-festival-11620811806?mod=breakingnews earlier that he had swapped his shares in Starbucks Corp for a little under 6% stake in Domino's.

"It's (Domino's) a very compelling story and big international growth opportunity ... and there's plenty of room to run both here and abroad," Ackman said during the Journal's Future of Everything Festival event.

Domino's, whose shares rose 5.9% to a record high of $447.1, said in an emailed statement that it welcomed Ackman's investment in the company.

Starbucks said it would not comment on shareholder decisions. Its shares were down 2.4%.

Pershing Square declined to comment.

(Reporting by Praveen Paramasivam in Bengaluru and Uday Sampath; Editing by Maju Samuel and Aditya Soni)