Kenvue shares surge after activist Starboard takes stake

Group 1 - Kenvue, which spun out of Johnson & Johnson in mid-2023, has attracted the attention of activist investor Starboard Value, which holds a significant stake in the company [1][2] - Starboard Value is seeking to improve Kenvue's share price, with plans to discuss its strategy at an upcoming investor summit [1] - Following the news of Starboard's involvement, Kenvue's shares surged approximately 8% in pre-market trading [1] Group 2 - Starboard Value recently acquired a stake of around $1 billion in Pfizer, indicating its aggressive investment strategy [2] - Johnson & Johnson completed its separation from Kenvue in August 2022, marking a significant restructuring in the company's nearly 140-year history [2] - The split was part of J&J's strategy to streamline operations and focus on its pharmaceutical and medical device divisions [2]