By Connor Hart

Starbucks is facing another activist investor, as Starboard Value has a stake in the coffee chain and wants it to take steps to boost its stock price, The Wall Street Journal reports. The size of the hedge fund's stake and its exact demands couldn't be learned. Starboard's arrival comes as the Seattle-based chain is in talks to strike a settlement agreement with another activist, Elliott Investment Management. Shares rise 2.9%, to $77.25, in after-hours trading.

Humacyte said on Friday that the Food and Drug Administration needs more time to review its proposed treatment for vascular trauma. The biotechnology company doesn't have a revised action date for its acellular tissue engineered vessel, a bioengineered human tissue designed to be used in the replacement and repair of arteries. Shares fall 13%, to $6.85, in post-market trading.

Motorsport Games swung to a profit in the second quarter, boosted by two settlements of licensing agreements, headcount 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 gain 14%, to $2.05, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com


(END) Dow Jones Newswires

08-09-24 1851ET