NEW YORK, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Guggenheim Securities, LLC is issuing a statement on behalf of former Pfizer CEO Ian Read and former Pfizer CFO Frank D’Amelio: We have decided not to be involved in the efforts of Starboard Value regarding Pfizer. We are fully supportive of Pfizer Chairman & CEO Albert Bourla, senior management and the board, and we are confident that over time they will deliver shareholder value. ...

The sharp, sudden entry of an activist investor is raising hopes that change might come to the company.Pfizer (PFE 3.46%) was a stock on the move Wednesday, and not because of any news generated by the healthcare company. Reports of a meeting between Pfizer's leader and an activist investor breathed life into the stock, which closed the day more than 3% higher in price. That gain well exceeded the 0.7% increase of the S&P 500 index.An activist meeting is apparently imminentLate afternoon on Tuesday, the Fin ...

Pfizer (PFE, Financial) experienced a 2.3% increase, reaching $29.85. The rise follows news that Pfizer's CEO plans to meet next week with key leaders from activist investor Starboard Value. Starboard Value currently holds approximately $1 billion in Pfizer stock and is advocating for changes to improve the company's performance.In addition, Pfizer and its German partner BioNTech secured a legal victory in the London High Court, invalidating two patents held by competitor CureVac. The disputed technology un ...

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Ken Griffin's Citadel continues to add to its position in Pfizer.Each quarter, hedge funds that manage over $100 million are required to file a Form 13F with the Securities and Exchange Commission (SEC). These filings break down which stocks investment firms bought and sold during the most recent quarter.Ken Griffin is a billionaire investor who serves as CEO of the hedge fund Citadel. Last quarter, Citadel bought 7.9 million shares of Pfizer (PFE 0.93%) -- increasing its stake in the pharmaceutical giant b ...

KEY TAKEAWAYSPfizer CEO Albert Bourla reportedly is planning to meet with Starboard Value after the activist investor took a $1 billion stake in the struggling drugmaker.Bourla and at least one other director will hold discussions with Starboard next week, the Financial Times reported, in a sign that the hedge fund’s demands are being taken seriously by the COVID-19 vaccine maker. Pfizer's shares have halved since their pandemic peak in 2021 as demand for its COVID-19 vaccines slumped. Pfizer (PFE) Chief Ex ...

CHINA - 2024/09/21: In this photo illustration, a Pfizer logo is displayed on the screen of a ... [+] smartphone. (Photo Illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Pfizer stock (NYSE: PFE) currently trades at $29 per share, 45% below its peak level of $54 seen in December 2021. In contrast, Merck stock is up 54% over this period. PFE stock was trading at $47 in early June 2022, just before the Fed started increasing rates, and is still 4 ...

Starboard will look to turn around the struggling pharma company.Shares of Pfizer (PFE -0.07%) have been stuck in the mud since December 2022, with its shares down more than 45% over that stretch. Despite its underwhelming performance, many individual investors are attracted to the drug giant's robust dividend, with the stock now having a forward dividend yield of about 5.7%. And despite its performance, one large institutional investor just revealed a billion-dollar bet on the company.According to the Wall ...

Pfizer (PFE) closed the latest trading day at $29.18, indicating a -0.07% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.97% for the day. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.Shares of the drugmaker witnessed a loss of 0.71% over the previous month, beating the performance of the Medical sector with its loss of 3.72% and underperforming the S&P 500's gain of 5.41%.The investment c ...

A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.Happy Tuesday! Pfizer's troubles may finally be coming to a head. Former executives of the pharmaceutical giant are backing a push by activist investor Starboard Value to turn around the struggling company, according to recent reports. Starboard has a roughly $1 billion stake in the drugmaker and approached former Pfizer CEO ...