Starbucks Shares Near All-Time High; S&P 500 Up 12% in 2014
Despite ending the day in the red, stocks are still on track to make strong gains in 2014. The S&P 500 is up 12% in 2014 alone. Starbucks (SBUX) shares approached all time-highs today after unveiling their ambitious 5-year growth plan. The coffee chain plans on adding additional stores, increasing menu offerings and offering alcoholic beverages in hopes of nearly doubling their annual revenue by 2019. This has some investors worried as they believe Starbucks may expand too quickly, and fall victim to the same troubles as McDonald's (MCD). McDonald's is the prime example of the woes of expanding too quickly; adding more menu items have caused more harm that good as the overloaded menu has become a burden on employees and has increased wait times.
Word on the Street
- Last jobs report of the year to be released tomorrow.
- Better investment: stocks or a home?
- Barnes & Noble (BKS) falls 10%, ends Nook deal with Microsoft (MSFT).
- Starbucks (SBUX) shares near all-time highs.
- Oil falls below $50 a barrel in North Dakota.
- Additional funding gives Uber a $40 billion value.
- Best Buy (BBY) to sell its Five Star China business.