|Bid||86.42 x 900|
|Ask||86.44 x 800|
|Day's Range||86.33 - 87.46|
|52 Week Range||60.42 - 99.72|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||29.62|
|Earnings Date||Jan 28, 2020|
|Forward Dividend & Yield||1.64 (1.94%)|
|1y Target Est||94.12|
Wilmington Trust CIO Tony Roth joins Yahoo Finance’s Seana Smith to discuss the market outlook as U.S. tariffs on $156B worth of Chinese goods are set to take effect on December 15.
Joining Yahoo Finance's Myles Udland is Brian Shannon, CMT and founder of www.alphatrends.net, who breaks down the price action in the SPDR S&P 500 ETF (SPY) as well as Starbucks.
Starbucks is releasing an Irish cream cold brew for the holidays. Yahoo Finance's Seana Smith, Jared Blikre, Dan Howley and Ines Ferre discuss.
Recent macroeconomic developments, escalating geopolitical tensions and historical data point to a surge in stock prices of small companies Continue reading...
The remaining retailers, which include MOD Pizza and First American Title, will open in August 2020.
2019 has been a big year for fast-food chicken, with the "chicken wars" turning from mild to spicy. Will you be trying any of the fried chicken sandwich options?
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The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive
Ever since rapidly growing Chinese coffee retailer Luckin Coffee (NASDAQ:LK) hit the public markets at an IPO price of $17 per share in May 2019, I've been pounding on the table, calling LK stock a long-term winner with tremendous upside potential.Source: Keitma / Shutterstock.com Today, LK stock trades hands at about $29. That represents a 70%-plus rally from its mid-May IPO price. For comparison purposes, the S&P 500 index is up less than 10% over that same stretch.In other words, Luckin Coffee stock has been a big winner so far. But, has all the winning been done? Is it too late to buy this strong stock?InvestorPlace - Stock Market News, Stock Advice & Trading TipsNo. Far from it. LK stock will continue to run materially higher over the next several years, powered by robust revenue and profit growth, the likes of which still isn't fully priced into shares today. Indeed, I think the long-term fundamentals here support LK stock at price tags above $40 in 2020. Luckin Coffee is a Long-Term WinnerThe bull thesis on LK stock is simple, compelling, and won't get cold anytime soon.China's nascent retail coffee market is booming. But, that retail coffee market is still small. The country's per capita coffee consumption measures around five cups per year. In America, per capita coffee consumption is up around 400 cups per year. In Norway and Sweden, people drink more than 1,000 cups per year. This huge discrepancy implies a huge opportunity for China's retail coffee market to expand over the next several years. * 7 Stocks to Buy in December Luckin Coffee is at the epicenter of this expanding Chinese retail coffee market. They operate small retail coffee shops that are designed for consumers to order their drinks ahead of time on their phones, and simply pick-up their coffee in the store a few minutes later. It's a unique concept which is attracting a lot of Chinese consumers because it optimizes convenience.Further, because these stores are doing really well, Luckin is opening a bunch of them. At the start of 2018, Luckin operated less than a dozen coffee shops. Today, they operate nearly 3,700, up 210% year-over-year.At 3,700 stores, Luckin is far from being done growing. Starbucks (NASDAQ:SBUX) operates more than 15,000 stores in the U.S. That's about 45 latte-locations for every million people. If Luckin were to match that rate, the company could be looking at more than 60,000 coffee shops in China.No, Luckin won't ever operate more than 60,000 stores in China. But, the point here is that robust unit growth will persist for a lot longer. As will its robust transaction-per-store growth. And average ticket size growth. Sustained big growth across all of those verticals will drive sustained big revenue growth. At the same time, margins are steadily improving, and Starbucks operates at 15%-20% operating margins, implying that Luckin has a huge opportunity to go from small and unprofitable today, to huge and profitable in five years.That transition will ultimately power LK stock well above $30 in the long run. Luckin Stock can Run Above $40Luckin Coffee's long-term profit growth prospects support LK stock at price tags north of $40 in 2020.The numbers here aren't too hard to follow. On the revenue side, there are three big drivers.For one, consider unit growth. Luckin is opening a ton of stores, and will continue to open a ton of stores because they are still small and the untapped addressable market is huge. This company should therefore be supported by 20%-plus unit growth over the next several years.Second, look at transactions-per-store growth. More and more customers will flock to those stores, because Luckin's mobile-focused ordering model is designed for the modern, urban consumer. Transactions per store were up more than 50% year-over-year last quarter. This metric should keep growing at a 10%-plus rate.Third, there's ticket size growth. The average ticket at Luckin remains very small, at under $2. Last quarter, average ticket increased more than 10%. It will continue to rise at a 10%-plus clip, as Luckin hikes prices and broadens its menu.Net net, Luckin projects as a 20%-plus unit grower, with 10%-plus transactions per store growth and 10%-plus average ticket growth. Putting all that together, Luckin reasonably projects as a 50%-plus revenue grower. Reasonably speaking, then, Luckin could be looking at $8 to $10 billion in revenues by 2025. * 7 Exciting Biotech Stocks to Buy Now Taking the mid-point and assuming operating margins progress towards industry-average 15-17% levels, then Luckin could produce around $4 in earnings per share by 2025. Based on a market-average 16x forward earnings multiple and a 10% discount rate, that equates to a 2020 price target for LK stock of nearly $44. Bottom Line on LK StockLK stock is a long-term winner that is in the early stages of its multi-year growth narrative. As this story plays out over the next few years, Luckin's revenue will march significantly higher, margins will improve by a ton, and today's big losses will turn into big profits.All of these positive developments will drive Luckin Coffee stock materially higher in the long run. At some point, valuation will become a problem. But, at $30, valuation isn't a problem yet, so the best thing to do here is remain long and strong.As of this writing, Luke Lango was long LK. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post Here's Why Luckin Coffee Stock is a Great Growth Stock to Buy Now appeared first on InvestorPlace.
(Bloomberg) -- SoftBank Group Corp.’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.”Chris Lane of Sanford C. Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and more carefully focuses on the evolution of the corporate office market. He likens WeWork’s business model to Starbucks’s, where branding, consistency and global scale give it an advantage over the competition.Lane argues WeWork can achieve profitability if it pulls back on extraneous areas and calms a frenetic pace of expansion to focus on filling up existing space. That will allow it to grab an estimated 8% of an emergent market for pre-fitted offices for corporate clients, almost like a white-label tech gadget or home appliance.“We think investors should think of the basic business as being similar to Starbucks,” Lane wrote in a 21-page research report. “While profitable, the scale of profits that can be generated from a single site is small. Starbucks as a corporation only makes sense if you plan to open thousands of outlets.”It’s a contrarian take on a WeWork deal that has been widely viewed as a fiasco. After SoftBank invested in the co-working startup, its planned initial public offering fell apart as investors balked at its enormous losses and conflicted governance. Son conceded “there was a problem with my own judgment” as he announced the writedown last month. SoftBank has put about $14 billion into a startup that’s now valued at less than $8 billion.The Japanese company’s shares are down about 30% from their peak in April. They were little changed on Friday.After discussions with management, Lane explains they see an opportunity for WeWork to move beyond the niche of providing space for entrepreneurs to offering flexible real estate for a broad range of companies. He calls this “managed space as a service” and compares it to “software as a service,” which is the way many companies now buy from Microsoft Corp. and Salesforce.com Inc. WeWork, Lane says, sees the potential to make $500 per month on memberships as “an on-going annuity,” far more than software generates.SoftBank named Marcelo Claure, the former chief executive at Sprint Corp., executive chairman of WeWork and put him in charge of the turnaround effort. Under his leadership, Lane says the company will be able to focus on profitability by stopping any incremental expansion, filling its existing space and slashing overhead by getting rid of expansion staff and non-core businesses. WeWork’s ability to gather data about office-use and optimize layouts -- while not entirely substantiated -- could prove disruptive to the industry, he added.He estimates that WeWork’s revenue will rise from $720 million a quarter to about $1.5 billion if it can push occupancy to 90% on its current portfolio. Once profitable, WeWork will once again try to go public, perhaps in 2023, and then raise additional capital to resume expansion, albeit more slowly than before.With a discounted cash flow model, Lane projects WeWork would have an enterprise value of $28.8 billion in 2025. That would make SoftBank’s 80% stake worth about $19.1 billion, roughly 40% more than the estimated $13.8 billion the company and its Vision Fund have invested.“We believe WeWork’s valuation is justified if you believe in the long-term, ‘office space’ will be a managed service outsourced to professionals – and that WeWork will be the leading global player,” Lane wrote. “Despite the huge embarrassment WeWork has been for SoftBank this year, we suspect SoftBank will have the last laugh when they bring the company back to market in a few years – bigger and profitable.”(Updates with shares in the sixth paragraph.)To contact the reporters on this story: Pavel Alpeyev in Tokyo at firstname.lastname@example.org;Takahiko Hyuga in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This has been enough for Luckin Coffee to quintuple customer numbers in the third quarter. Luckin expects to overtake Starbucks, with 4,650 stores by the year end. While sales have soared, Luckin remains unprofitable.
(Bloomberg) -- Starbucks Corp., for the first time, is disclosing how much less women at the coffee chain earn than men in the U.S.: zero dollars. That’s in contrast to the nation’s workforce overall, in which women make on average 19% less than men. Starbucks also says it has no racial pay gap.Starbucks joins Citigroup Inc. in reporting figures for median pay, a rarity among U.S. companies, which are not required to release diversity data publicly. The U.K. has required organizations to report such data for workers since 2018. There, women at Starbucks make 5% less than men. Globally, its female employees make 98.3% of what men do.“Starbucks has been focused on diversity and equity for a long time, and you can see it in their numbers,” said Natasha Lamb, managing partner at Arjuna Capital, which pressures companies to reveal pay data for greater gender equality. “But having little to no adjusted or unadjusted gender pay gaps really sets them apart.”Starbucks’ parity shows not only that women get “equal pay for equal work” but also that they have achieved as many high-paying roles as men.“Pay equity has long been a priority at Starbucks,” said Bailey Adkins, a spokesperson for the chain. “We’ve done serious work to ensure women and men are compensated fairly.”Pressured by Arjuna, some of the biggest banks and tech companies have disclosed the pay gap between men and women doing the same work—often referred to as pay equity. Companies have resisted sharing their median pay gaps, which could be embarrassing. After Citigroup reported that women at the bank earn 29% less than men, its peers chose not to follow. In the U.S., the bank also pays people of color 7% less than their white co-workers.On Wednesday, Microsoft Corp.’s shareholders voted down a measure calling for median pay disclosure. Arjuna says it will file resolutions at more than a dozen technology, financial and retail companies for the 2020 proxy season. It withdrew its proposal from Starbucks.\--With assistance from Leslie Patton.To contact the reporter on this story: Jeff Green in Southfield, Michigan at email@example.comTo contact the editors responsible for this story: Rebecca Greenfield at firstname.lastname@example.org, Philip GrayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On the heels of World Aids Day and #GivingTuesday, Rolls-Royce, a subsidiary of BMW, announced that it has provided a bespoke red Phantom for auction by Sotheby's to benefit (RED). The winning bidder will have the opportunity to collaborate with contemporary artist Mickalene Thomas to create a custom wrap for their car, based on a work of art inspired by the car. "It is an honor and privilege to present this one of a kind commission created at the Home of Rolls-Royce in Goodwood, England," commented Martin Fritsches, president and CEO of Rolls-Royce Motor Cars Americas.
(Bloomberg) -- When Starbucks Corp. took its American playbook to China two decades ago, that included a controversial chapter: grow extra fast and cannibalize your own stores’ sales.After snagging enviable 5% growth in the key country in the latest quarter, the coffee giant warned again Tuesday that its China comparable sales could rise as little as 1% this fiscal year. The 1% to 3% growth expected in China would be slower than the 3% to 4% expansion expected in the U.S., despite saturation at home.“We have picked up the pace of new unit development, and with that comes cannibalization,” Chief Financial Officer Patrick Grismer said during an investor conference hosted by Morgan Stanley.Intentional Strategy“We’re effectively doing it to ourselves, we’re doing it intentionally in the interest of growing total transactions and total sales,” he said, while adding that rising competition and slowing economic growth are also having an impact.The company is opening a location in China about every 15 hours, with an ultimate goal of adding about 600 new cafes this year to its current count of 4,125.Starbucks over the past several years followed a similar pattern in its home market by opening too many stores too quickly. Sales couldn’t keep up with the openings, and the chain closed about 150 stores in densely penetrated U.S. areas in its last fiscal year.With slower growth in the U.S. -- especially urban areas -- Starbucks has started opening smaller pick-up only locations. It’s also focused more on rural and suburban real estate with drive-thrus, especially across the Sun Belt region. Performance in the U.S. has shown signs of rebounding.Starbucks, which has identified the U.S. and China as its key areas of focus, has called out slower growth in China over the past 18 months and even reported a rare negative comparable sales quarter there in 2018. To combat rising competition from brands like Luckin Coffee Inc., Starbucks has been expanding delivery and increasing its advertising.\--With assistance from Cristin Flanagan.To contact the reporters on this story: Leslie Patton in Chicago at email@example.com;Jonathan Roeder in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Sally BakewellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Coming soon to a Starbucks Corporation (NASDAQ: SBUX ) store near you: an Irish Cream Cold Brew. The new cold beverage consists of a standard cold-brew coffee , mixed with Irish cream syrup and topped ...
Starbucks Corp. launched its latest holiday beverage in the U.S. and Canada on Tuesday, the Irish Cream Cold Brew, made with cold brew coffee, Irish Cream syrup and vanilla sweet cream cold foam. Half of Starbucks' U.S. beverage sales are cold drinks. A hot version, the Irish Cream Americano, will be available in Canada. This latest beverage joins the menu of holiday-themed drinks, which includes Peppermint Mocha and Toasted White Chocolate Mocha. Starbucks stock, which slipped 0.3% in premarket trading, has rallied 31.3% year to date, while the SPDR Consumer Discretionary Select Sector ETF has advanced 22.7% and the S&P 500 has gained 24.2%.
It's only the second year median worker pay disclosures have been required, and not all the more than 70 public companies in Washington state have released those figures.
On Nov. 21, in response to several potential class-action suits in the United States, Canopy Growth (NYSE:CGC) issued a brief statement acknowledging the legal issues it could be facing. Although the company believes the claims are without merit, CGC stock fell on the news. Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsCanopy has enough issues at the moment. Class-action suits are just another to add to the pile. While it can't ignore these potential suits brought by law firms I believe are masquerading as ambulance chasers, interim CEO Mark Zekulin and the rest of the board of directors must keep their eyes focused on continuing to grow Canopy's business. A loss of focus at this point could be fatal. It's got to carry on, leaving the legal matters to its lawyers. That's what they're paid for. Here are a couple of matters more pressing for Canopy as it heads into 2020. Finding a New CEOIt's been a couple of months since Canopy chairman John Bell told the media that the company would have a new CEO by the end of 2019. Well, we've come to Thanksgiving without an announcement. That leaves five weeks to lock down a chief executive. Talk about cutting it close. * 7 Entertainment Stocks to Buy to Escape Holiday Blues The reality is the hiring of a new CEO might slide into 2020. Better to get the right person early next year than the wrong person before the turn of the calendar. The appointment's that important. In August, I recommended three highly-capable executives Canopy should go after in its quest to be the biggest and best cannabis company on the planet. One of my suggestions could be available. From Shoes to Pot?In October, Mark Parker, the CEO of Nike (NYSE:NKE) for the past 13 years and a Nike employee since 1979, abruptly resigned as chief executive. Although Parker will become executive chairman of Nike on Jan. 13, the demands on the 64-year-old businessman won't be nearly as time consuming as those of the CEO.I suggested that Parker was a long shot given his age and commitment to the Nike lifestyle. That said, his understanding of global brands would be incredibly helpful to Canopy as it grows beyond its Canadian roots. My other two suggestions: Williams-Sonoma (NYSE:WSM) CEO Laura Alber and Starbucks (NASDAQ:SBUX) COO Rosalind Brewer are also long shots. Alber has one of the best CEO jobs in the world, and Brewer is likely to succeed Kevin Johnson as CEO.Whoever the company appoints has to be someone familiar with branded products. Until it gets its woman or man locked down, Canopy can't afford to spend a single minute worrying about these class-action suits. Canopy and Constellation Have Got to Kiss and Make UpCanopy's shares fell almost 10% on Nov. 22 after controlling shareholder Constellation Brands (NYSE:STZ) suggested the gravy train was over for its Canadian partner. In its Nov. 22 U.S. Securities and Exchange Commission filing, Constellation had the following to say about its significant investment in the cannabis producer:"[Constellation] does not plan to make additional cash contributions to Canopy beyond any possible exercise of the warrants. Constellation believes that Canopy is adequately capitalized with more than C$2.7 billion cash and marketable securities on hand as of September 30, 2019."Can you blame it?Canopy Growth stock is down 33% year-to-date. Over the past year, CGC is off more than 46%. In the same period, STZ stock has a total return of 16% year-to-date, but it's down almost 5% over the past 52 weeks. A lot of that has to do with Canopy's disintegrating stock price, not some deterioration of its beer, wine or spirits businesses. Canopy has the strongest financial position among the top six Canadian cannabis producers. In early November, I highlighted how it and Cronos Group (NASDAQ:CRON) tower over the other four major competitors. The new CEO will be pleased to inherit a business whose balance sheet is as solid as they come. The Bottom Line on Canopy Growth StockYes, it has recorded some massive losses in recent quarters -- 1.7 billion CAD in the first six months of fiscal 2020 -- but the long-term prognosis for the company remains intact. The ambulance chasers are launching suits because, in a stock market like the one we've got right now, somebody must pay for making investors look silly. And it isn't going to be the lawyers. Suck it up, snowflakes. You win some. You lose some. That's the game of investing. Live with it. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Things to Watch for into 2020 for Safer Income & Growth * 7 Entertainment Stocks to Buy to Escape Holiday Blues * 5 "Strong Buy" Biotech Stocks With More Than 80% Upside The post Ignore the Canopy Growth Ambulance Chasers appeared first on InvestorPlace.