What's Going On With Starbucks Stock Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
Starbucks Corporation (NASDAQ:SBUX) shares are trading higher on Wednesday despite reporting third-quarter revenues that missed estimates. The company reported earnings in line with expectations and highlighted promising signs in its U.S. operations. Starbucks opened 526 new stores in the quarter and declared a cash dividend of 57 cents per share.
July 31, 2024 | 11:46 am
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POSITIVE IMPACT
Global X Millennial Consumer ETF (MILN) may see a positive impact due to its exposure to Starbucks, which is trading higher despite a Q3 revenue miss. Starbucks' promising signs in U.S. operations and new product success are positive indicators.
MILN has exposure to Starbucks, which is trading higher despite a Q3 revenue miss. Positive signs in Starbucks' U.S. operations and new product success could benefit MILN.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Starbucks shares are trading higher despite a Q3 revenue miss. The company reported earnings in line with estimates, opened 526 new stores, and declared a 57-cent dividend. Promising signs in U.S. operations and new product success are positive indicators.
Despite missing revenue estimates, Starbucks' earnings met expectations, and the company showed positive signs in U.S. operations and new product launches. The opening of new stores and a declared dividend are also positive factors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SPDR Select Sector Fund – Consumer Discretionary (XLY) may see a positive impact due to its exposure to Starbucks, which is trading higher despite a Q3 revenue miss. Starbucks' promising signs in U.S. operations and new product success are positive indicators.
XLY has exposure to Starbucks, which is trading higher despite a Q3 revenue miss. Positive signs in Starbucks' U.S. operations and new product success could benefit XLY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50