Starbucks stumbles, Chipotle's free food promotion fails, General Electric drags
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Starbucks (SBUX) cut it sales outlook for the year after it reported weaker than expected revenue in the second quarter as sales growth slowed. Starbucks CEO Howard Schultz called the disappointing sales figures an “anomaly” and blamed the shortfall on political and social unrest both at home and abroad.
Chipotle (CMG) posted earning and revenue that missed analysts’ estimates in the second quarter with sales down nearly 17% from a year ago as its free food promotion failed to win back customers after a series of food scares. However, the company said that July same-store sales have improved somewhat and that it also introduced its first-ever rewards program
Dow component General Electric (GE) fell in early trading even though the industrial conglomerate reported a beat on both its top and bottom lines for the second quarter. Revenue jumped nearly 15% from a year ago thanks to strength in its power business.
Honeywell (HON) profit beat expectations in the second quarter, while revenue fell short of forecasts sales rose more than 2.2% from a year ago driven by strong sales in its automation and climate control systems division.