CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
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NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Starbucks Corporation (NASDAQ: SBUX).
Shareholders who purchased shares of SBUX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/starbucks-loss-submission-form/?id=103190&from=3
CLASS PERIOD: November 2, 2023 to April 30, 2024
ALLEGATIONS: According to the complaint, on April 30, 2024, after market hours, investors began to question the veracity of defendants’ public statements following Starbucks’ press release announcing its second quarter fiscal 2024 earnings and the accompanying same-day earnings call. In pertinent part, defendants announced disappointing Q2 Fiscal 2024 results, stating that store sales declined globally 4%, with traffic falling 7%, and further disclosed a 2% decline in new revenues to $8.6 billion. On the back of these results, Starbucks additionally lowered their guidance for FY 2024, citing global declines in store sales, net revenues, and both GAAP and non- GAAP earnings. The Company attributed its results and lowered guidance on the issues Starbucks was facing in China, with CFO Ruggeri stating, in reference to the Chinese market, “we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market.” Investors and analysts reacted immediately to Starbucks’ revelation. The price of Starbucks’ common stock declined dramatically. From a closing market price of $88.49 per share on April 30, 2024, Starbucks’ stock price fell to $74.44 per share on May 1, 2024, a decline of over 15% in the span of just a single day.
DEADLINE: October 28, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/starbucks-loss-submission-form/?id=103190&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SBUX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 28, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (646) 453-8903
Investors are on edge in the lead-up to the Wednesday Federal Open Market Committee interest rate decision that is expected to deliver the first cut to the federal funds rate in over four years.
The market is divided on the magnitude of the anticipated rate cut. Traders are assigning a 59% probability to a 50-basis-point cut, while a 41% chance is placed on a more modest 25-basis-point reduction. The size of the rate cut is crucial as it could trigger significant market reactions.
Should the Fed opt for a 50-basis-point cut, it may be perceived as an acknowledgment that interest rates are overly restrictive. This could lead to increased expectations for further rate cuts in the coming months, potentially fueling risk sentiment and driving stock prices higher.
Conversely, a 25-basis-point cut might disappoint investors who are betting on a more aggressive measure.
Since the start of 2022, the S&P 500, tracked by the SPDR S&P 500 ETF Trust , has experienced an average move of plus or minus 1.3% during FOMC events, reflecting the market’s high sensitivity to Fed policy decisions.
Goldman Sachs equity analysts, including John Marshall, analyzed stock movements during the first rate cuts in the previous three Fed easing cycles (Sept. 18, 2007, July 31, 2019 and March 3, 2020).
The data highlights the average moves of several key S&P 500 stocks with liquid options during these periods.
Read Next:
Federal Reserve illustration created using artificial intelligence via MidJourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
LOS ANGELES, CA / ACCESSWIRE / September 18, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Starbucks Corporation ("Starbucks" or "the Company") (NASDAQ:SBUX) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 2, 2023 and April 30, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 28, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Starbucks announced disappointing Q2 results on April 30, 2024. The Company also lowered its guidance for 2024, blaming the downtrend on global sales declines led by poor performance in China. The Company's CFO stated, "we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Starbucks, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
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