NEW YORK (TheStreet) -- Ahead of Starbucks (SBUX) earnings slated for release after the bell, investors are preemptively exiting rival stocks SodaStream (SODA), Green Mountain Coffee Roasters (GMCR) and Krispy Kreme (KKD).
By late morning, SodaStream had unloaded 2.8% to $37.80, Green Mountain was 1.6% lower to $79.87, and Krispy Kreme tripped 1.4% to $18.56.
The coffee chain giant will report first quarter results for the period ended December 2013 at 4 p.m. EST on Thursday.
Analysts surveyed by Thomson Reuters expect net income of 69 cents a share, 12 cents higher than the year-ago quarter. Analysts forecast revenue of $4.29 billion, a 13% year-over-year increase.
The Seattle-based business previously issued same-store sales growth guidance in the "mid-single-digit" range. Estimates provider Consensus Metrix anticipates global growth of 5.9% comprised of a 6.4% increase in the U.S. and 7.7% in gains in China and the Asia-Pacific.
Starbucks is also trending lower ahead of earnings. Shares have taken off 1.3% to $72.63.
TheStreet Ratings team rates STARBUCKS CORP as a Hold with a ratings score of C+. The team has this to say about their recommendation:
"We rate STARBUCKS CORP (SBUX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."