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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:59 EDTTEA, SBUXTeavana slides after short-seller says Starbucks may walk from deal
Specialty tea retailer Teavana (TEA), which has recently agreed to be acquired for $620M or $15.50 per share by Starbucks (SBUX), is sliding after a firm with a disclosed short position said the deal could be jeopardized by allegations of consumer fraud at Teavana. Glaucus Research Group claimed in a note to investors earlier today that independent laboratory tests it had commissioned indicated that Teavana's teas contain pesticides in amounts that exceed regulatory limits set by the U.S. and European Union. According to Glaucus, Teavana's marketing practices violate federal and state laws against deceptive marketing and the firm believes Starbucks is likely to walk away from the agreed upon deal once the "inevitable" lawsuits against Teavana begin. Glaucus disclosed in its note, "We are short sellers. We are biased...[But] just because we are biased does not mean that we are wrong." In mid-morning trading, shares of Teavana slid 53c, or 3.43%, to $14.90.
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August 15, 2014
06:39 EDTSBUXTim Hortons aims to lure customers via new coffee launch, Reuters says
Tim Hortons (THI) is looking to attract new customers and fight competitors, such as Starbucks (SBUX) and McDonald's (MCD), by revealing a new dark roast coffee blend throughout North America while possibly increasing prices to fend-off increasing expenses and rivals, according to Reuters, citing comments from Tim Hortons CEO Marc Caira. Caira said, "Looking at the coffee market, I would suggest that, given the degree of cost increases, that we are looking at prices going up sometime in 2015." Reference Link
August 12, 2014
12:34 EDTSBUXStarbucks lost some packaged coffee share, says Wells Fargo
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August 8, 2014
06:11 EDTSBUXOSI withdraws products made in Shanghai in response to food scandal
After dealing with a food scandal, OSI China, parent company of Shanghai Husi Food, announced the withdrawal of products produced in Shanghai. The company said, "Husi is the subject of company and government investigations and it is proceeding smoothly. While there have been no reported illnesses linked to any Shanghai Husi products, recovering this production is an important step in facilitating the investigations and rebuilding the respect and trust of our customers, the government and the people of China. With assistances and guidance provided by Shanghai FDA, we have started the recovery process of products in question in a comprehensive and orderly." Worldwide brands such Yum! Brands (YUM) McDonald's (MCD) and Starbucks (SBUX) were affected by the scandal in China. Reference Link

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