With Starbucks (SBUX) shares trading down over 25% since last July, the java giant will need an extra shot of “something” to boost its performance this quarter. Is that "something" a 9 cent price hike implemented today?
Eric Bolling says Starbucks is equipping every location with WiFi. He likes the idea and speculates that people with Blackberrysand iPhones will start hanging out in Starbucks. And from a technical standpoint he says the stock looks “decent.”
Jeff Macke says even though the coffee company raised prices – they can’t move people through their stores quickly enough. Jeff says the trade is buying stock going into the earnings and selling it shortly thereafter.
Pete Najarian says SBUX experienced heavy call option activity; also CEO Howard Schultz exercised his calls without selling stock. He sees both events as bullish. Pete also recommends owning Green Mountain Coffee Roasters. (GMCR).
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Trader disclosure: On July 31st 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), Najarian Owns (GS); Bolling Owns (DIS), (T); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures: CNBC Is A Service Of NBC Universal And Dow Jones