Why Starbucks Stock Turned Bitter on Wednesday
(NASDAQ: SBUX) investors are having their worst day in more than four years. Shares of the coffee chain slumped as much as 17.4% Wednesday, marking the stock's worst decline since early 2020. As of 1:07 p.m. ET, shares were still down roughly 17.4%.
The catalyst that sent the coffee purveyor sharply lower was disappointing quarterly results, which caused the company to slash its full-year guidance.
For the company's fiscal 2024 second quarter (ended March 31), Starbucks reported revenue that declined 2% year over year to $8.6 billion. The bad news continued to the bottom line, with adjusted earnings per share (EPS) of $0.68, a decline of 14%.
Source Fool.com
Starbucks Corp. Aktie
88,06 €
0,50 %
Starbucks Corp. ist ein klarer Community-Favorit mit mehr Buy- als Sell-Einschätzungen.
Ein positives Kurspotenzial für Starbucks Corp. ist gegeben, mit einem Kursziel von 97 € über dem aktuellen Kurs von 88.06 €.
