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December 17, 2012
06:21 EDTTEA, SBUXTeavana reaches settlement with shareholders over Starbucks deal
Teavana Holdings (TEA), Starbucks (SBUX) and Taj Acquisition Corp., a wholly-owned subsidiary of Starbucks, entered into an Agreement and Plan of Merger. Andrew T. Mack, SKM Equity Fund III, L.P., SKM Investment Fund and Jurgen W. Link, the holders of 28,749,196 shares of Teavana’s common stock, which constitute approximately 74% of the voting power of the outstanding shares of Teavana’s common stock, executed a written consent approving and adopting the Merger Agreement. As a result, no further approval of the stockholders of Teavana is required to adopt the Merger Agreement. Starting on November 19, three purported Teavana stockholders filed putative class actions. A fourth class action was filed in the State of Georgia on December 7 and was voluntarily dismissed without prejudice on December 13. On December 14, the parties to the Stockholder Actions entered into an MOU reflecting an agreement in principle to resolve the Stockholder Actions. Subject to completion of certain confirmatory discovery by counsel to the plaintiffs, the MOU stipulates that the parties will enter into a stipulation of settlement. As part of the settlement, the defendants deny all allegations of wrongdoing and deny that the disclosures in the Definitive Information Statement were inadequate but have agreed to provide supplemental disclosures.
News For TEA;SBUX From The Last 14 Days
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October 30, 2014
19:00 EDTSBUXStarbucks plans to begin food, beverage delivery service in FY15
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18:39 EDTSBUXOn The Fly: After Hours Movers
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16:33 EDTSBUXStarbucks raises quarterly dividend 23% to 32c from 26c per share
Payable on November 28 to shareholders of record as of November 13.
16:31 EDTSBUXStarbucks reports Q4 adjusted operating margin up 280bps to 20.5%
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16:09 EDTSBUXStarbucks down 3% following Q4 results
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16:09 EDTSBUXStarbucks sees FY15 CapEx approximately $1.4B
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16:08 EDTSBUXStarbucks sees Q1 adjusted EPS 79c-81c, consensus 83c
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16:07 EDTSBUXStarbucks raises quarterly dividend to 32c per share
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16:07 EDTSBUXStarbucks sees FY15 EPS $3.08-$3.13, consensus $3.16
Sees FY15 revenue growth 16% - 18%, including over $1B in incremental revenue from the planned acquisition of Starbucks Japan, consensus $18.43B. Global comparable store sales growth continues to be targeted in the mid-single digits. New store openings increase to 1,650 net new.
16:03 EDTSBUXStarbucks reports Q4 adjusted EPS 74c, consensus 74c
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15:30 EDTSBUXNotable companies reporting after market close
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14:43 EDTSBUX Starbucks Coffee October weekly 77 straddle priced for 3.1% move into Q4
13:43 EDTSBUXEarnings Preview: Starbucks sees Q4 adjusted EPS of 73c-75c
Starbucks (SBUX) is scheduled to report fourth quarter results after the market close on Thursday, October 30, 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 74c on revenue of $4.23B, according to First Call. The consensus range for EPS is 73c-75c on revenue of $4.18B-$4.3B. LAST QUARTER: Starbucks reported third quarter EPS of 56c on revenue of $4.2B, beating estimates for $66c and $4.14B, respectively.Starbucks said global comparable store sales increased 6%, with Americas comp growth of 6%, U.S. comp growth of 7%, EMEA comp growth of 3% and China/Asia Pacific comp growth of 7%. Looking ahead, the company forecast Q4 adjusted EPS 73c-75c and narrowed its fiscal year 2014 EPS view excluding items to $2.65-$2.67, against estimates at that time of $2.67. Starbucks sees fiscal year 2015 adjusted EPS growth of 15%-20% over FY14 and FY15 revenue growth of 10% or greater. The company sees FY15 global comparable store sales growth in the mid single digits. NEWS: On its Q3 earnings conference call, Starbucks forecast long-term annual EPS growth of 15%-20% and said its FY14 operating margin is likely to be up 200bps over FY13. During the quarter, Starbucks announced it would acquire the remaining 60.5% of Starbucks Japan for $913M; the company expects this transaction will be immediately accretive on a non-GAAP basis. Starbucks said it will introduce for the first time Mobile Order and Pay in stores within the Portland area before the end of the calendar year, which will enable customers to place orders in advance of their visit and pick them up at their selected Starbucks location. On December 5, Starbucks said it will open the interactive Starbucks Reserve Roastery and Tasting Room dedicated to roasting, coffee education and increased availability of their small-lot Starbucks Reserve coffees. The consolidation of small-batch roasting will allow the company to expand their Starbucks Reserve coffee line to 1,500 locations globally as well as open over 100 stores designed to highlight these coffees. Ken Langone, CEO of Invemed Associates, said on CNBC that he initiated a new position in Starbucks. STREET RESEARCH: Oppenheimer believes that Starbucks can meet the consensus Q4 comp sales growth outlook of 6% and beat the consensus 2015 comp sales growth outlook of 5%. The firm believes that commodity cost fears for the company are overblown. Wells Fargo expects the company's Q4 same store sales to come in at 6.3%, driven by strong traffic trends, higher prices and gains from food. PRICE ACTION: Over the last three months, Starbucks shares are down about 2.3%. Ahead of tonight's earnings report, shares are up 0.7% to $77.09.
12:42 EDTSBUXStarbucks technical notes ahead of earnings
In the past three months the shares have traded flat to down, underperforming the broader averages. The trading range in the period has been wide, with a recovery off earlier lows that brought the shares up to flat. The range has been from $71 at the low to $78 at the high. Those two extremes may help in understanding where post-earnings price reactions could go. If the news is positive, a breakout above the high of the range and close to where shares are currently trading would have resistance at $80.45 and then at $82.50, the 52-week high and life high for the stock. A bullish consideration is that on a very long term chart the price action of the last year resembles a bullish pennant pattern. A breakout above $80 would see the pattern become active and would have bullish implications for future price. Without resistance above the life-high, the $85 area could be probed. If the news disappoints, the counter-reaction could be just as strong but in the opposite direction. First support would be at $74.12 with a test of the range low at $71 next as a possible downside target. A move below $71 would void the bullish pennant.
08:04 EDTSBUXStarbucks October weekly volatility elevated into Q4 and outlook
Starbucks October weekly option implied volatility is at 91, November is at 24, December is at 22, January is at 18; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q4 results after the market close on October 30.
October 29, 2014
07:52 EDTSBUXStarbucks shares poised to outperform, says Oppenheimer
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October 27, 2014
15:39 EDTSBUXStarbucks October weekly volatility elevated into Q4 and outlook
Starbucks October weekly option implied volatility is at 39, November is at 21, December is at 20, January is at 19; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q4 results after the market close on October 30.
07:30 EDTSBUXStarbucks outlook favorable into Q4 results, says Wells Fargo
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