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Starbucks spikes on report Bill Ackman adds to stake in the company



bill ackmanBill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management.Reuters / Richard Brian

Starbucks shares jumped by as much as 5% Tuesday on news that the hedge-fund billionaire Bill Ackman added to his stake in the coffee retailer. 

According to CNBC’s Leslie Picker, Ackman disclosed the additional stake at a conference in New York. He had previously announced a position in August. 

This story is developing … 

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