Apple Signals Product Price Hikes Amid Rising Memory Chip Costs 
Ukrainian Drone Makers Target Japan and Asia Defense Market 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
Obayashi to Acquire Multiplex in $526M Expansion Deal 
US Raises Concerns Over Possible ASML EUV Machine Transfer to China 
BHP Shares Fall as Jansen Potash Project Costs Surge 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
Hyundai to Acquire SoftBank’s Remaining Boston Dynamics Stake for $325 Million 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
Google Gemini Co-Lead Noam Shazeer Leaves for OpenAI Amid AI Talent Race 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Activist investor Starboard Value has fully exited its position in Pfizer, marking the end of a high-profile effort to pressure the pharmaceutical giant into boosting its flagging share price. According to a recent 13-F regulatory filing, Starboard sold approximately 8.5 million Pfizer shares during the third quarter, unwinding a stake that once totaled 15.4 million shares at the end of Q4 2024.
Starboard initially made waves when it disclosed a roughly $1 billion investment in Pfizer a year ago, stepping in at a time when the company’s stock was trading at roughly half its peak during the pandemic. The fund’s founder, Jeffrey Smith, was outspoken about Pfizer’s performance, arguing at an industry event that the board needed to hold management accountable for persistent underperformance and weak market confidence.
Despite its push for governance and operational improvements, Starboard’s campaign struggled to gain lasting traction. The firm had approached former Pfizer executives—including former CEO Ian Read—for strategic guidance, but discussions reportedly stalled. Pfizer’s current market value sits around $142 billion, a decline from roughly $162 billion when Starboard’s involvement was first revealed in October 2024.
Starboard, known for its aggressive activist strategies, has been active across several industries this year, taking positions in companies such as TripAdvisor, Rogers, and BILL Holdings, where it secured a board seat shortly after investing. However, its Pfizer exit marks a notable retreat from what was once one of its most closely watched campaigns.
The same filing also revealed that Starboard fully divested from Fortrea Holdings, a contract research organization spun off from LabCorp in 2023. The hedge fund sold 2.5 million Fortrea shares during the third quarter. Since Starboard disclosed its investment in October 2023, Fortrea’s share price has fallen nearly 50%, adding another setback to the fund’s recent positions.
Starboard declined to comment on the latest disclosures.
