Starbucks Corp. shares slipped in the extended session Thursday after the coffee chain’s second-quarter outlook fell short of Wall Street estimates. Starbucks shares fell 3.6% to $56.94 on heavy volume. The company forecast adjusted fiscal second-quarter earnings of 38 cents to 39 cents a share. Analysts surveyed by FactSet had forecast 40 cents a share. Starbucks reported first-quarter earnings of 46 cents a share on revenue of $5.37 billion. Analysts had expected 45 cents a share on revenue of $5.39 billion.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News