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Stock Market & Financial Investment News

News For TEA;SBUX From The Last 14 Days
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January 30, 2015
18:15 EDTSBUXStarbucks insiders sell $11M of stock near 52-week high, Barron's reports
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January 23, 2015
16:55 EDTSBUXMarket ends week higher after ECB announces bond purchase plan
Stocks finished higher for the week after the European Central Bank unveiled a larger than expected bond buying plan and earnings season in the U.S. picked up steam. MACRO NEWS: The European Central Bank announced that it would buy EUR 60B of government and private bonds per month through September 2016. Reports before the ECB's official announcement had suggested that the central bank would buy EUR 50B of bonds per month... On a negative note, the International Monetary Fund cut its 2015 global growth outlook to 3.5% from 3.8%... U.S. economic data was mixed, as weekly jobless claims and sales of existing homes in December were worse than expected, but the index of leading economic indicators and new housing permits for December came in above the consensus outlook. COMPANY NEWS: Netflix (NFLX), Starbucks (SBUX), firearm maker Smith & Wesson (SWHC), and Southwest Airlines (LUV) were among the companies whose stocks rose following their results and guidance. On the other side of the ledger, Johnson & Johnson (JNJ), IT management solution provider CA Technologies (CA), UPS (UPS), and application delivery networking products maker F5 Networks (FFIV) were among the companies that fell after they reported their earnings or updated their financial outlooks... M&A reports moved a number of stocks this week. The Financial Post reported that Samsung (SSNLF) had hired investment bank Evercore (EVR) to evaluate a purchase of the troubled Canadian company. Samsung is still considering purchasing BlackBerry (BBRY), the newspaper added. However, Canada's BNN reported that Evercore said that Samsung has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord." Avon (AVP) has held talks about a potential sale to private equity firm TPG Capital, dealReporter stated. Bloomberg reported that online travel agency Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and other Internet companies... DreamWorks Animation (DWA) tumbled after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and axe about 500 jobs. INDEXES: For the week, the Dow dipped 0.37% to 17,672.60, the Nasdaq rose 1.14% to 4,757.88, and the S&P gained 0.34% to 2,051.82.
16:32 EDTSBUXOn The Fly: Closing Wrap
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12:33 EDTSBUXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The futures dipped this morning after UPS (UPS) pre-announced that its quarterly earnings would miss Street estimates. The earnings miss dragged other transportation names lower. ECONOMIC EVENTS: In the U.S., Markit's preliminary January manufacturing PMI fell to 53.7 from 53.9 previously, versus expectations for a reading of 54.0. Existing home sales rebounded 2.4% to a 5.04M rate in December, which was below the consensus forecast for a 3% increase. The leading indicators rose 0.5% to 121.1 in December, topping expectations for a rise of 0.4%. COMPANY NEWS: Shares of UPS plunged over 9% after the shipping giant warned that its Q4 adjusted EPS is now expected to be $1.25, below the consensus forecast of $1.47. "UPS invested heavily to ensure we would provide excellent service during peak when deliveries more than double. Though customers enjoyed high quality service, it came at a cost to UPS. Going forward, we will reduce operating costs and implement new pricing strategies during peak season,” said CEO David Abney. Subsequently, its peer, FedEx (FDX), reaffirmed its FY15 EPS forecast of $8.50-$9.00. The outlook compares to a consensus forecast of $8.97. FedEx shares, which were briefly halted for the announcement, are down 2% afterward... Shares of McDonald’s (MCD) slid about 1% near noon after its earnings miss, though the world’s largest restaurant chain's same-store sales declined less than analysts expected. Same-store sales in the company's fiscal fourth quarter declined 0.9%, versus the Consensus Metrix analysts' estimate for a 1.5% drop. Of note, McDonald’s U.S. same-store sales had their first monthly gain in more than a year in December, having risen 0.4%. MAJOR MOVERS: Among the notable gainers was Starbucks (SBUX), which rose 6.5% and had several research firms issue upbeat notes after the company reported in-line results last night. At least three firms responded to the report by raising their price targets on the shares. Also higher was Array BioPharma (ARRY), which jumped 38% after announcing that it has reached a definitive agreement with Novartis (NVS) to acquire worldwide rights to encorafenib, a BRAF inhibitor currently in Phase 3 development. Among the noteworthy losers was Avon Products (AVP), which dropped 11% after Wells Fargo downgraded the stock to Market Perform from Outperform after shares rallied yesterday over 14% following a report that the company has held talks with TPG Capital about a possible deal. Wells says it leveraged buyout math suggests a takeout of the entire company is unlikely. Also lower was DreamWorks Animation (DWA), which fell 9% after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and cut about 500 jobs. INDEXES: Near midday, the Dow was down 42.58, or 0.24%, to 17,771.40, the Nasdaq was up 9.68, or 0.2%, to 4,760.08, and the S&P 500 was down 3.40, or 0.16%, to 2,059.75.
10:34 EDTSBUXAnalysts bullish on Starbucks following results
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10:06 EDTSBUXStarbucks CEO says company set up 'very well' for 2015
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09:36 EDTSBUXActive equity options trading
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09:21 EDTSBUXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Infinera (INFN), up 13.2%... E-Trade (ETFC), up 5.6%... Starbucks (SBUX), up 5%... ResMed (RMD), up 3.2%. ALSO HIGHER: IVUS (VVUS), up 6.2% after being initiated with an Outperform at RBC Capital... Vitae Pharmaceuticals (VTAE), up 12.3% after 3M share Secondary priced at $11.90... lululemon (LULU), up 3.5% after being upgraded to Overweight from Neutral at JPMorgan. DOWN AFTER EARNINGS: Kimberly Clark (KMB), down 4.6%... Bank of New York Mellon (BK), down 2.1%... Altera (ALTR), down 4.4%... Kansas City Southern (KSU), down 3.3%... McDonald's (MCD), down fractionally. ALSO LOWER: LeapFrog (LF), down 32.8% after reporting preliminary third quarter results and withdrawing fiscal 2015 guidance... Molycorp (MCP), down 10.7% after being downgraded to Neutral from Buy at DA Davidson... Dreamworks (DWA), down 12% after announcing that it will cut 500 jobs, reduce films released per year, and seeing a $55M charge for 'The Penguins of Madagascar' and 'Mr. Peabody and Sherman'... Otonomy (OTIC), down 1.8% after secondary increased to 2.55M shares, priced at $29.25.
08:52 EDTSBUXStarbucks price target raised to $104 from $88 at RW Baird
Baird raised its price target on Starbucks to $104 from $88 citing its healthy profit growth and better than anticipated store traffic. The firm believes its positive thesis is intact and is justified by the company's balance sheet, high return on investment, and its above average growth profile. Baird reiterated its Outperform rating on Starbucks shares.
07:44 EDTSBUXStarbucks price target rasised to $95 from $86 at Oppenheimer
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07:35 EDTSBUXStarbucks price target raised to $95 from 90 at UBS
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07:05 EDTSBUXStarbucks results likely to stay solid for rest of fiscal 2015, says Wells Fargo
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06:58 EDTSBUXStarbucks remains a top investment idea at Piper Jaffray
Piper Jaffray says Starbucks remains one of its top investment recommendations after the company reported "strong" Q1 results. Piper believes the coffee retailer's core business fundamentals remain "highly attractive." It reiterates an Overweight rating on the stock with a $100 price target.
January 22, 2015
18:28 EDTSBUXOn The Fly: After Hours Movers
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18:05 EDTSBUXStarbucks says Q1 performance was 'exceptional'
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17:34 EDTSBUXStarbucks sees FY15 EPS outlook $3.09-$3.13, consensus $3.13
Reaffirms FY15 revenue growth outlook 16%-18% and global comparable store sales growth of mid-single digits. Non-GAAP operating margin is expected to be flat to slightly up over prior year non-GAAP operating margin. Still sees new store openings of 1,650.
17:31 EDTSBUXStarbucks sees 1H15 EPS at lower end of range
Sees 2H15 EPS at higher end of range. Sees FY15 EPS $3.09-$3.13, consensus $3.13. Expects EPS to grow as year progresses.
17:25 EDTSBUXStarbucks names Kevin Johnson as COO
On January 22, Starbucks (SBUX) announced the appointment of Kevin Johnson as president and COO. Johnson ceased membership on all Starbucks board committees prior to his appointment as president and COO. He will remain a member of the Starbucks board of directors, which he joined in March 2009, and is expected to start in his new role effective March 1. Johnson, currently a non-employee director of the company, served as CEO of Juniper Networks (JNPR) from September 2008 to December 2013.
16:08 EDTSBUXStarbucks jumps 3% to $85.30 following Q1 results
16:04 EDTSBUXStarbucks sees Q2 EPS 64c-65c, consensus 68c
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16:04 EDTSBUXStarbucks reports Q1 EPS 80c, consensus 80c
Reports Q1 revenue $4.8B, consensus $4.80B. Global comparable store sales increased 5%, with a 2% increase in traffic. Comparable store customer transactions increased by nearly 9M in the U.S., nearly 12M globally, year-over-year. The company opened 512 net new stores in Q1.
15:32 EDTSBUXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Starbucks (SBUX), consensus 80c; Capital One (COF), consensus $1.74; Intuitive Surgical (ISRG), consensus $4.38; KLA-Tencor (KLAC), consensus 52c; Altera (ALTR), consensus 35c; E-Trade (ETFC), consensus 23c... ResMed (RMD), consensus 62c; Maxim Integrated Products (MXIM), consensus 30c; Maxim Integrated Products (MSCC), consensus 65c; Hexcel (HXL), consensus 54c; Polycom (PLCM), consensus 23c; Skyworks (SWKS), consensus $1.19; Curtiss-Wright (CW), consensus $1.00.
14:58 EDTSBUXStarbucks January weekly 82 straddle priced for 3.1% movement into Q1
12:31 EDTSBUXEarnings Preview: Starbucks sees Q1 adjusted EPS 79c-81c
Starbucks (SBUX) is scheduled to report first quarter results after the market close on Thursday, January 22, with a conference call scheduled for 5:00 pm ET. Starbucks purchases and roasts whole bean coffees and sells them, along with brewed coffees, Italian-style espresso beverages, cold blended beverages, food items, teas, and beverage-related accessories and equipment, primarily through company-operated retail stores. EXPECTATIONS: Analysts are looking for earnings per share of 80c on revenue of $4.8B, according to First Call. The consensus range for EPS is 78c-81c on revenue of $4.63B-$4.93B. LAST QUARTER: Starbucks reported fourth quarter adjusted EPS of 74c on revenue of $4.2B, in-line with estimates for 74c and $4.23B, respectively. Starbucks said global comparable store sales increased 5%. Looking ahead, the company forecast Q1 adjusted EPS 79c-81c and guided fiscal year 2015 EPS to $3.03-$3.13 against estimates at that time for $3.16. The company sees FY15 revenue growth of 16%-18%, including over $1B in incremental revenue from the planned acquisition of Starbucks Japan, against estimates at that time for $18.43B. Global comparable store sales growth was targeted in the mid-single digits. NEWS: In November, the European Union said the tax deal struck by Starbucks in the Netherlands amounts to illegal state aid, reported the Wall Street Journal. At its December Investor Day, Starbucks projected that revenue will approach $30B in fiscal year 2019, up from $16B in fiscal year 2014. Additionally, the company announced the launch of "Mobile Order & Pay," which allows customers to place orders in advance of their visit, and to pick up their ready order at their preferred Starbucks store, and also announced plans for food and beverage delivery. The company sees mobile ordering driving transactions and said it was exploring two different delivery models to launch in mid-to-late 2015. Starbucks' partnership with Square for use in mobile device payments also ended and the company replaced Tazo tea in its outlets with products from Teavana. During the quarter, Starbucks said that Chief Operating Officer Troy Alstead, a 23-year veteran of the company who also served for many years as the company's Chief Financial Officer, as well as leading the operations and development of Starbucks international business and its Europe, Middle East and Africa business unit, would take an extended unpaid leave from the company; his last day at his current role will be March 1. STREET RESEARCH: Piper Jaffray says it would be a buyer of Starbucks on any sell-off following the news of COO Alstead taking a leave of absence and said its fundamental thesis on the stock is unchanged and that Starbucks remains a top pick. William Blair thinks the near-term could "prove a bit rocky" for Starbucks investors given the departure of the "well-liked" COO and the potential slowing of domestic sales trends. The firm lowered its Q1 comp projection to 4%, below the consensus of 5%, citing a lower sales forecast in the Americas. Bernstein kept a $99 price target and Outperform rating on Starbucks after COO Alstead announced his leave of absence. Janney Capital cut its rating on the stock to Neutral from Buy, citing concerns about the company's near-term sales outlook. PRICE ACTION: Over the last three months, Starbucks shares are up almost 10%. Ahead of tonight's earnings report, shares are down about 0.7% to $81.86.
11:47 EDTSBUXStarbucks technical notes ahead of earnings
There is a potential bullish symmetrical triangle on the daily chart that could become active after earnings if price breaks out above $82.50. What makes the pattern bullish is the preceding uptrend. Upside potential for this pattern is to the $90 area, which would be a fresh lifetime high. When pulling back to a very long-term chart (10-year) the current pattern is visible, but part of a much larger bullish symmetrical triangle which is already in progress. The minimum objective from that pattern is also to the $90 area. While the current technical conditions are strongly bullish, there is always the prospect of pattern failure if the fundamentals fail to live up to bullish expectations. The downside reaction from a negative surprise could be equal in scale to the upside on a positive one. The bottom of the triangle pattern at the $78 area would be the first major support level for the shares. A breakdown below that support would void the pattern, with next support at $76.22.
07:32 EDTSBUXStarbucks January weekly volatility elevated into Q1 and outlook
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