Starbucks Corp Company News

Starbucks (SBUX) reachead $88.75 at the closing of the latest trading day, reflecting a +1% change compared to its last close.

A U.S. appeals court on Wednesday rejected Starbucks' claims that an employee vote to unionize at the coffee company's flagship Seattle store was invalid because it was held via mail ballot during the COVID-19 pandemic. A three-judge 9th U.S. Circuit Court of Appeals panel upheld a National Labor Relations Board decision that the company, which is facing a nationwide union organizing campaign, must recognize and bargain with the store's union, which represents nearly 100 workers. Starbucks claimed a labor board official who ordered the mail-ballot election in March 2022 used the wrong data to determine that an in-person election was unsafe due to an upward trend in COVID cases in the Seattle area at the time.

(Reuters) -A U.S. appeals court on Wednesday rejected Starbucks' claims that an employee vote to unionize at the coffee company's flagship Seattle store was invalid because it was held via mail ballot during the COVID-19 pandemic. A three-judge 9th U.S. Circuit Court of Appeals panel upheld a National Labor Relations Board decision that the company, which is facing a nationwide union organizing campaign, must recognize and bargain with the store's union, which represents nearly 100 workers. Starbucks claimed a labor board official who ordered the mail-ballot election in March 2022 used the wrong data to determine that an in-person election was unsafe due to an upward trend in COVID cases in the Seattle area at the time.

While the company still plans store-by-store contract ratification, it is discussing issues impacting all employees with a bargaining committee of union members.

Chipotle, which recently added new worker benefits to attract hires, had the second-highest burnout rating of any company in the study, surpassed only by Progressive.

The coffee chain asked the Supreme Court to limit the NLRB, as SpaceX, Amazon and others take swings in additional disputes.

Wall Street gears up for a number of big tech earnings this week as many of the tech giants hold much of the value of the S&P 500 (^GSPC). As earnings from the Magnificent Seven roll out, investors may be looking for opportunities to enter the market. Simplify Asset Management Chief Strategist Michael Green and Wealth Enhancement Group Senior Vice President and Financial Advisor Nicole Webb join Market Domination to discuss investment opportunities during this big week of tech earnings and beyond. Webb gives her overview of earnings so far: "To us, it's just all of this playing out of where does the earnings growth for the rest of the year come from, and we had anticipated a deceleration from those mega tech names in the back half of this year. And so kind of below the surface we see this churning, the broadening that everyone is talking about and some of that relative outperformance from places like the equal weight S&P (^SPXEW)." Green follows up with: "I think the biggest surprises that have come out of earnings in general have been things like General Motors' (GM) announcement today that was accompanied by an astonishing buyback where they shrank the quantity of shares by around 17%. This is in contrast, that level of buyback is unprecedented for many of these companies for that to be happening in open markets. And it's just highlighting that the exceptionally cheap areas of the market as long as there's a little bit of support that's coming in through the interest rate space, that really looks like that could be an area of focus." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino

SEATTLE, April 23, 2024--At a global gathering of Starbucks partners in Seattle and around the world, Starbucks global chief executive officer Laxman Narasimhan announced five initiatives at the first-ever Starbucks Promises Day that underscore the company’s promises to its partners, farmers, customers, communities, shareholders and the environment:

Starbucks and the National Labor Relations Board, the federal agency charged with protecting workers’ rights, will be battling each other before the Supreme Court Tuesday, in one of numerous cases now pending in which major employers are questioning the NLRB’s powers, and even its right to exist.

U.S. Supreme Court justices on Tuesday signaled support for Starbucks in the coffee chain's challenge to a judicial order requiring it to rehire seven employees at a Memphis cafe who were fired as they pursued unionization. The justices heard arguments in the Seattle-based company's appeal of a lower court's approval of an injunction sought by the U.S. National Labor Relations Board (NLRB) ordering reinstatement of the workers. The case could make it harder to quickly halt labor practices challenged as unfair under federal law while the NLRB resolves complaints.

Starbucks (SBUX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Recently, Zacks.com users have been paying close attention to Starbucks (SBUX). This makes it worthwhile to examine what the stock has in store.

The coffee titan wants courts to use stricter standards when evaluating injunctions in unfair labor practice cases.