The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Epstein, 66, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in early July as he stepped off his private plane at an airport in...Politicsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Yields slipped after Powell said the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Starbucks is poised for double-digit revenue gains on its ability to generate sales of more expensive coffee products and premium food items, a note from KeyBanc Capital Markets said.
KeyBanc upgraded Starbucks shares to "overweight" and set a 12-month price target at $68.
Starbucks has continued to increase sales every year, showing promising signs that it will continue to navigate changes in consumer behavior. It has added more premium food and drink options and developed its app to encourage customers to spend more, KeyBanc said in a note.
Last year, Starbucks generated $21.3 billion in sales. KeyBanc estimates that number could grow to 25.1 billion in 2018, an increase of 18 percent.
Shares of Starbucks have climbed 7 percent in the last year. The price hit an all-time high of $64.87 on June 5, though it has since settled down to $59.61.
KeyBanc says the $68 price target, or 15 percent annual earnings-per-share growth, is attainable because of Starbucks' strategy to encourage customers to spend more. One area KeyBanc found attractive was Starbucks' focus on adding more premium food and drink options.
The note cited Starbucks' ice coffee as a prime example.
A traditional iced coffee costs $2.95 at one of Starbucks' Seattle locations. But two other iced options are more expensive: A Nariño 70 costs $3.45, and a nitro cold brew with sweet cream costs $4.45.
Former CEO Howard Schultz stepped down in April, making way for COO Kevin Johnson. KeyBanc expressed confidence in the move, acknowledging that Schultz will remain at the company as executive chairman to lead the ultra-premium platform push, and the company has about 60 senior executives each with an average of about 10 years of experience at Starbucks.
Starbucks' stock barely budged in pre-market trading following the note's release.