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- Starbucks' Turnaround Begins ☕
Starbucks' Turnaround Begins ☕
And, F5 reports strong sales growth.
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Today is Wednesday, January 29, 2025.
The Early Bird Index today is 82.66
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Starbucks' Turnaround Begins ☕
After a miserable 2024 for Starbucks (Nasdaq: SBUX), the company posted good financial results on Tuesday and the stock ticked up 0.40% in after-hours trading.
Financials: Starbucks reported earnings of 69 cents per share and revenue of $9.4 billion in the past quarter, which were better than expected.
Details: Comparable store sales in North America declined by 4%, but the average ticket price increased by 4%. New CEO Brian Niccol said Starbucks is “only one quarter into our turnaround.”
Early Bird’s Nest Egg Gains: Starbucks is struggling to turn things around due to declining foot traffic, pricing issues, menu complexities, increased competition, and brand perception.
Final Thoughts: The company’s China business also continued to struggle during the period.
Notables
Notable Earnings Today: Meta Platforms (Nasdaq: META), Tesla (Nasdaq; TSLA), Levi Strauss (NYSE: LEVI), ASML (Nasdaq: ASML), T-Mobile US (Nasdaq: TMUS), Microsoft (Nasdaq: MSFT), Automatic Data Processing (Nasdaq: ADP), ServiceNow (NYSE: NOW), International Business Machines (NYSE: IBM), Whirlpool (NYSE: WHR), Danaher (NYSE: DHR), Lam Research (Nasdaq: LRCX), Western Digital (Nasdaq: WDC), Norfolk Southern (NYSE: NSC), Teva Pharmaceutical (NYSE: TEVA), General Dynamics (NYSE: GD), Waste Management (NYSE: WM), V.F. Corp (NYSE: VFC), NASDAQ (Nasdaq: NDAQ), Wolfspeed (NYS: WOLF), Brinker International (NYSE: EAT), United Rentals (NYSE: URI), Applied Industrial Technologies (NYSE: AIT), Avnet (Nasdaq: AVT), Benchmark Electronics (NYSE: BHE), C.H. Robinson (Nasdaq: CHRW), Calix Networks (NYSE: CALX), Canadian Pacific Kansas City Ltd. (NYSE: CP), Century Communities (NYSE: CCS), Corning (NYSE: GLW), Dolby Labs (NYSE: DLB), Eagle Materials (NYSE: EXP), Ethan Allen (NYSE: ETD), Extreme Networks (Nasdaq: EXTR), FirstService (Nasdaq: FSV), Flex (Nasdaq: FLEX), Group 1 Auto (NYSE: GPI), Hess Midstream Partners (NYSE: HESM), Landstar System (Nasdaq: LSTR), Lennox International (NYSE: LII), MaxLinear (Nasdaq: MXL), Monro Muffler (Nasdaq: MNRO), MSCI (NYSE: MSCI), Navient (Nasdaq: NAVI), Prosperity Bancshares (NYSE:PB), Scotts Miracle-Gro (NYSE: SMG), SEI Investments (Nasdaq: SEIC), Silgan Holdings (NYSE: SLGN), Southside Banc (NYSE: SBSI), Wabash National (NYSE: WNC).
Notable IPOs Today: MSC Income Fund, Inc. (NYSE: MSIF).
Notable Equity Crowdfunding Campaigns Ending Today: Beuhi (Wefunder), Kalia Health (StartEngine), Phixey (StartEngine), Dunamis Charge (Rise Up Crowdfunding).
Notable Economic Events Today: Goods Trade Balance (8:30 a.m. ET), Retail Inventories (8:30 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), FOMC Statement / Fed Interest Rate Decision (2:00 p.m. ET), FOMC Press Conference (2:30 p.m. ET).
F5 Reports Strong Sales Growth
Technology company F5 (Nasdaq: FFIV) surged by 15.05% in after-hours trading on Tuesday after posting strong financial earnings results.
Financials: F5 reported earnings of $3.84 per share in the past quarter and revenue of $766 million; both were better than expected.
Final Thoughts: It’s a good start for 2025. The stock is up 45% in the last 12 months.
LendingClub Earnings Fall Short
LendingClub (NYSE: LC) plunged 22.76% in after-hours trading on Tuesday after posting mixed financial earnings results.
Financials: LendingClub reported earnings of 8 cents per share in the past quarter, which was lower than expected. Revenue reached $217.2 million, which was better than expected.
Final Thoughts: This is a setback for LendingClub, which was up 87% in the last 12 months.
Trends to Watch
That Was Fast: Apple supplier Qorvo sees swift reversal in stock price after warning of weakness in smartphone parts (CNBC)
January Winner: Solana Price Consolidates as Whale Holdings Stay Near Record Levels (BeInCrypto)
Blockbuster Drug: F.D.A. Approves Ozempic to Treat Kidney Disease (New York Times)
All Eyes on Jerome: The Fed sent stocks spiraling after its last meeting, and now the central bank is expected to leave interest rates untouched on Wednesday (Fortune)
Memecoin ETF: Bitwise files with SEC for spot Dogecoin ETF (Cointelegraph)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.