|Bid||77.36 x 800|
|Ask||77.42 x 900|
|Day's Range||75.72 - 78.23|
|52 Week Range||69.03 - 99.72|
|Beta (5Y Monthly)||0.53|
|PE Ratio (TTM)||26.79|
|Earnings Date||Apr 27, 2020|
|Forward Dividend & Yield||1.64 (1.90%)|
|Ex-Dividend Date||Feb 04, 2020|
|1y Target Est||95.57|
Beyond Meat is heading to China.
The coronavirus epidemic could have a worse impact on stocks and the travel industry than the SARS outbreak, Cowen analysts are warning.
Starbucks has restarted operations in nearly 85% of its outlets, having closed them due to the coronavirus epidemic in China. The CEO of Starbucks, Kevin Johnson, wrote to employees in a letter, “With the number of new cases in China slowing, we are seeing the early signs of a recovery in the region.”
Experts expect 30,000 fewer visitors to the region from China this year, a $42M hit to the local economy. But tourism isn’t the only industry that will suffer as the deadly coronavirus takes its toll.
Beyond Meat Inc (NASDAQ: BYND) shares tumbled in after-hours trading Thursday after the company reported earnings below analysts' expectations on a net loss, even though it beat expectations on quarterly sales by nearly 25%. Beyond Meat management was upbeat, and expects to continue sales momentum in the coming year, issuing guidance for fiscal 2020 sales net revenue of $490 million to $510 million, up more than 64% from 2019.
"With the number of new cases in China slowing, we are seeing the early signs of a recovery in the region," said Chief Executive Officer Kevin Johnson. There were just 433 new cases in mainland China over the previous day, compared to 586 in nations and territories elsewhere. The epidemic, which has claimed nearly 2,800 lives, infected nearly 80,000 people and spread to 44 countries so far, has forced retailers and restaurants in China to shutter stores and warn of hit to their earnings earlier in the year.
Starbucks Corp. Chief Executive Kevin Johnson tweeted an update regarding Starbucks China on Thursday, saying that 85% of the company's locations in the country are back up and running. The tweet included a clip of Belinda Wong, chief executive of Starbucks China, from the Starbucks Roastery in Shanghai. The Roastery had been closed for 30 days. Last month, about half of Starbucks' 4,300 locations in China were closed due to the coronavirus. Starbucks said during its most recent earnings that it had planned to raise its guidance until the disruption hit. Starbucks stock has dropped 11% over the past month, but shares have rallied 12.6% over the last year. The S&P 500 index has gained 9.4% over the last 12 months.
Starbucks (SBUX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
(Bloomberg) -- Starbucks Corp. is reopening cafes across China after the coronavirus outbreak forced widespread closures last month.“With the number of new cases in China slowing, we are seeing the early signs of a recovery in the region. As a result, the situation is improving throughout major parts of China,” Chief Executive Officer Kevin Johnson said in a letter posted online Thursday. Starbucks now has opened 85% of its 4,292 China locations, he said.Johnson predicted that more communities will recover and customers will be back out in stores “over time.”The world’s biggest coffee chain, based in Seattle, has seen its supply chain disrupted and sales fall after the disease’s rapid spread forced businesses, malls and shopping locations to shutter across China.The virus has spread beyond China’s borders, with rising cases being reported in Italy, South Korea, Iran and other nations.To contact the reporter on this story: Leslie Patton in Chicago at email@example.comTo contact the editors responsible for this story: Sally Bakewell at firstname.lastname@example.org, Jonathan RoederFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
When people can’t go to work, the goods and services they normally produce can’t be supplied to a global market. The Fed can’t do a lot about that.
Stock pickers are generally looking for stocks that will outperform the broader market. And while active stock picking...
Stocks have tumbled for three days straight on coronavirus fears, but the so-called digital gold hasn’t provided any hedge. Bitcoin doesn’t protect against that, it protects against geopolitical strife and inflation, the analyst argued. After its past three quarterly reports, Beyond Meat stock (BYND) has risen more than 39%, dropped 12%, and dropped another 22%.
Panera Bread Co on Thursday is launching an $8.99 per month unlimited coffee subscription as it aims to grow its breakfast traffic and loyalty program membership. The subscription, believed to be a first among national restaurant chains, could position Panera competitively as an industry battle to win over breakfast customers surges this year. "We are disrupting the industry," Panera Chief Executive Officer Niren Chaudhary said in a phone interview.
The Dow Jones Industrial Average and S&P 500 marked their fifth consecutive trading day with losses, while the Nasdaq Composite eked out a small gain. The Dow Jones Industrial Average fell 123.77 points, or 0.46%, to close at 26,957.59. The S&P 500 dropped 11.82 points, or 0.38%, to end at 3116.39, while the Nasdaq Composite rose 15.16 points, or 0.17%, to close at 8980.77.
Starbucks Corp. announced early Wednesday that it will add a plant-based Beyond Meat Inc. sandwich to the menu in Canada starting March 3. Starbucks (SBUX) said it worked with Beyond Meat (BYND) to come up with a patty flavored with rosemary, fennel and other herbs and spices. The launch comes just weeks after Starbucks Chief Operating Officer Rosalind Brewer said on the coffee company’s first-quarter earnings call that a plant-based breakfast sandwich would be coming to both Canada and the U.S.
The trading action in Beyond Meat stock is something to behold. Investors can expect more volatility when the numbers are released.
Later this week when Beyond Meat Inc. (NASDAQ: BYND) opens the books on its fourth-quarter performance, investors are likely to be watching two things closely. One is the California-based alternative-protein company’s response to increasing competition.
President Donald Trump is scheduled to hold a news conference on the coronavirus at 6 p.m. ET (2300 GMT). At 12:54 p.m. ET, the Dow Jones Industrial Average was up 108.42 points, or 0.40%, at 27,189.78 and the S&P 500 was up 14.81 points, or 0.47%, at 3,143.02. Walt Disney Co slipped 2.9% on news that Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek.
Beyond Meat keeps winning business at large restaurant chains. The newest is Starbucks, which according to multiple reports is going to test Beyond Meat products in Canada.
Beyond Meat's sizzling shares got even hotter Wednesday after Starbucks said it'll start selling a plant-based breakfast sandwich next week. The Beyond Meat sandwich topped with cheddar cheese and egg on a bun will debut at nearly all its shops in Canada next month. The deal intensifies the already fierce rivalry between Beyond Meat and other plant-based meat producer, including Impossible Foods, Kellogg, Cargill and Nestle- which are competing for restaurant deals and shelf space at supermarkets. Dunkin' Brands expanded its distribution of the Beyond Sausage Sandwich to all its U.S. stores in November. And McDonald's is testing burgers using Beyond Meat patties in Ontario. Since debuting on the Nasdaq in May, Beyond Meat's shares have jumped more than four fold. The deal comes as Starbucks faces intensified competition in the breakfast business. Burger chain Wendy's WILL SOON START serving breakfast at its U.S. outlets Starbucks has been boosting its plant-based offerings, but its tie up with Beyond Meat marks the first time it'll sell any "fake meat" patty made from plants. Starbucks shares Also rose in early trading Wednesday.