logo
Plus   Neg
Share
Email

Starbucks Remains Notably Lower After Initial Sell-Off

Shares of Starbucks (SBUX) continue to see considerable weakness in afternoon trading on Friday after gapping open sharply lower. After hitting its lowest intraday level in a month, Starbucks is currently down by 6.5 percent.

The initial sell-off by Starbucks came after the coffee chain reported fiscal first quarter earnings that beat estimates but on weaker than expected sales.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney Co. confirmed that its upcoming streaming service Disney+ will launch in five countries, including the U.S., in November this year. The company has reached global agreements with major platforms to distribute the Disney+ app across partner mobile and connected TV devices. Disney+ will launch in the U.S., Canada and the Netherlands on November 12. Corporate America is committed to providing long-term economic benefit to all people rather than focusing on just shareholders' interests, Business Roundtable said Monday. The updated statement on the "purpose of a corporation" moves away from the principles of shareholder primacy that has been endorsed since 1997, and redefines corporate responsibility. Club Car, a unit of Ingersoll Rand Inc., withdrew 12,313 gas utility and transport vehicles in two recalls over concerns of fire and burn hazards due to fuel leak. These include about 2,013 vehicles that were sold in Canada. Club Car makes electric and gas-powered golf cars and utility task vehicles (UTVs) for personal and commercial use.
Follow RTT