Finance: Starbucks spikes on report that hedge-fund billionaire Bill Ackman has added to his stake in the company (SBUX)

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management.

Starbucks shares jumped by as much as 5% Tuesday on news that the hedge fund billionaire Bill Ackman added to his stake in the coffee retailer.

Starbucks shares jumped by as much as 5% Tuesday on news that the hedge-fund billionaire Bill Ackman added to his stake in the coffee retailer.

According to CNBC’s Leslie Picker, Ackman disclosed the additional stake at a conference in New York. He had previously announced a position in August.

This story is developing …

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