Pfizer Receives $1 Billion From Starboard Value, Stock Rises

Shares of Pfizer (PFE) rose 2.17% on Oct. 7 after a report from The Wall Street Journal stated that activist investor Starboard Value has taken a roughly $1 billion stake in the company.Investors cheered the news on hopes of a plausible turnaround with this investment.Shares of Pfizer have risen 1.5% year to date compared with the industry's growth of 19.1%.Image Source: Zacks Investment ResearchStarboard Value Invests in PfizerAccording to the report, Starboard has also approached Ian Read, a former Pfizer ...