Why Are Starbucks Shares Trading Higher Today?
Portfolio Pulse from Vaishali Prayag
Starbucks shares are trading higher following a report that Elliott Investment Management has taken a significant stake in the company. Elliott is pushing for changes to address challenges such as increased competition in China, slowing U.S. growth, and operational issues. Starbucks recently reported weaker-than-expected quarterly sales and profit, with upcoming earnings expected to show an EPS of 94 cents and revenue of $9.24 billion.

July 19, 2024 | 8:02 pm
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Starbucks shares are up 6.85% following news that Elliott Investment Management has taken a significant stake in the company. Elliott is advocating for changes to address operational challenges and competition.
The involvement of Elliott Investment Management, a well-known activist investor, suggests potential positive changes for Starbucks. This has led to a significant increase in share price, indicating investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100