Canada markets close in 5 hours 45 minutes
  • S&P/TSX

    20,040.88
    -103.16 (-0.51%)
     
  • S&P 500

    4,184.89
    -36.97 (-0.88%)
     
  • DOW

    33,400.03
    -423.42 (-1.25%)
     
  • CAD/USD

    0.8064
    -0.0029 (-0.36%)
     
  • CRUDE OIL

    71.87
    +0.83 (+1.17%)
     
  • BTC-CAD

    45,664.85
    -2,366.85 (-4.93%)
     
  • CMC Crypto 200

    910.61
    -29.33 (-3.12%)
     
  • GOLD FUTURES

    1,771.40
    -3.40 (-0.19%)
     
  • RUSSELL 2000

    2,263.73
    -23.73 (-1.04%)
     
  • 10-Yr Bond

    1.5110
    0.0000 (0.00%)
     
  • NASDAQ

    14,084.20
    -77.16 (-0.54%)
     
  • VOLATILITY

    19.40
    +1.65 (+9.30%)
     
  • FTSE

    7,047.71
    -105.72 (-1.48%)
     
  • NIKKEI 225

    28,964.08
    -54.25 (-0.19%)
     
  • CAD/EUR

    0.6795
    +0.0001 (+0.01%)
     

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

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
FILE PHOTO: Ackman, CEO of Pershing Square Capital, speaks at the WSJ Digital Conference in Laguna Beach
  • Oops!
    Something went wrong.
    Please try again later.
  • 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)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting