By Connor Hart

Starbucks is facing another activist investor, with Starboard Value, which has a stake in the coffee chain and wants it to take steps to boost its stock price, The Wall Street Journal reported. The size of the hedge fund’s stake and exact demands were not known. Starboard’s arrival comes as the Seattle-based chain is in talks with another activist, Elliott Investment Management, to reach a settlement agreement. Shares rose 2.9% to $77.25 in after-hours trading.

Humacyte said Friday that the Food and Drug Administration needs more time to review its proposed treatment for vascular trauma. The biotech company does not have a revised action date for its acellular tissue engineered vein, a bioengineered human tissue designed to be used to replace and repair arteries. Shares fell 13% to $6.85 in after-market trading.

Motorsport Games returned to profit in the second quarter, boosted by two licensing deals, staff reductions and lower expenses. The Miami-based racing game developer reported net income of $2.1 million, or 87 cents a share, compared with a loss of $8.2 million, or $3.04 a share, a year earlier. Shares rose 14% to $2.05 in after-hours trading.

Write to Connor Hart at [email protected]

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August 09, 2024 18:51 ET (22:51 GMT)

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