Starbucks Shares Fall on Revenue Miss, Present Buying Opportunity - Video - TheStreet

Starbucks Shares Fall on Revenue Miss, Present Buying Opportunity

Shares of Starbucks fell in Friday trading after the company reported fiscal fourth-quarter revenue that missed expectations after the prior session's close.
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Shares of Starbucks fell in Friday trading after the company reported fiscal fourth-quarter revenue that missed expectations after the prior session's close. Starbucks reported in-line earnings of $0.74, on revenue of $4.18 billion, up 10% from a year ago, but short of the Thomson Reuters consensus estimate for $4.23 billion. Although comparable store sales of 5% including 1% traffic was 1-2% below his expectations, J.P. Morgan equity analyst John Ivankoe said, 'We like the company's aggressiveness in regaining comp momentum and believe current expectations are well set for above average earnings growth.' Jim Cramer, who owns Starbucks in his Action Alerts charitable trust portfolio, agrees that stock price weakness presents a buying opportunity.