Starbucks (SBUX) came out with earnings after yesterday's close. The coffee king beat profit estimates of 60-cents a share, posting 63-cents. This is up from 46-cents a year ago. Revenue was just a tad shy of expectations at $3.8-billion dollars. Starbucks says traffic at its stores is up 5% from a year ago. Same-store sales are up 7%. But the company issued guidance for 2014 that's below analyst estimates. Starbucks stock hit an all-time high a week ago Tuesday above $81 and goes into this morning's regular session up 47% year to date.
Expedia (EXPE) which has spiked as much as 18% since reporting earnings after yesterday's close. The company made $1.43 a share beating estimates by 8-cents. Revenues were also above expectations at $1.4-billion. Expedia says its sales were up 17% over last year. The gains are due largely to an increase in referrals from Trip Advisor. As we showed you yesterday, Expedia shares have been down about 20% year-to-date, so this morning's gains almost put the company back at the flat line. For point of comparison Priceline (PCLN) stock is up 67% in the same time.
Sony (SNE) has been down more than 6% in the premarket. The Tokyo-based tech company reports that it swung to a loss for the quarter. One of the biggest disappointments was the company's television business. You may recall, activist investor Daniel Loeb has been calling for Sony to separate its ailing electronics unit from its more successful entertainment wing. Prior to this morning, shares of Sony were up 69%, largely on Loeb's activism. By the way Sony rival Panasonic has just inked a deal to provide battery cells for Tesla cars.
Teva Pharmaceuticals (TEVA) has just reported earnings. The stock dropped 8-percent yesterday but not because of sales or profits. The fall came on word that CEO Jeremy Levin was departing the company immediately. Teva is currently the world's largest generic drug-maker, but it has been facing increased competition from Indian upstarts. The drop leaves company shares up a scant 1% this year
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