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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:59 EDTSBUX, TEATeavana 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.
News For TEA;SBUX From The Last 14 Days
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November 20, 2014
11:58 EDTSBUXKeurig Green Mountain sinks after Q1 outlook disappoints, CFO reports departure
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November 14, 2014
06:16 EDTSBUXEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link

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