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☆ Ahead of retail earnings, here's what we know about the consumer so far
▼ + stars: | 2024-05-07 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."

Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, —, Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine

☆ Howard Schultz says Starbucks needs to revamp its stores after big earnings miss
▼ + stars: | 2024-05-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Howard Schultz, former chief executive officer of Starbucks Corp., drinks from a Starbucks mug during a Senate Health, Education, Labor, and Pensions Committee hearing in Washington, DC, US, on Wednesday, March 29, 2023. The answer does not lie in data, but in the stores," Schultz wrote in a letter on Sunday evening posted to LinkedIn. He appeared to offer advice to his successor as he tries to turn the chain's sales around. "Leaders must model both humility and confidence as they work to restore trust and increase performance across the organization," Schultz wrote. A year and a half ago, Schultz told CNBC that he does not plan to come back as Starbucks' chief executive again.

Persons: Howard Schultz, Schultz, Sara Senatore, Laxman Narasimhan, Reckitt Organizations: Starbucks Corp, Health, Education, Labor, Starbucks, LinkedIn, Bank of America Securities, CNBC Locations: Washington , DC, U.S, East

☆ Labor coalition accuses Starbucks of 'flawed' union strategy, risking shareholder value
▼ + stars: | 2024-02-20 | by ( Kate Rogers | ) www.cnbc.com time to read: +8 min

The coalition is pushing to replace three current Starbucks board members with its own nominees. The SOC proxy presentation claims the company's board has backed what it calls an "unnecessarily confrontational" strategy with the union. Starbucks said it has not only a new CEO, but with these additions, it has added five new board members in the past year. The proxy presentation targets three current Starbucks board members: Ritch Allison, Andy Campion and Jørgen Vig Knudstorp. Allison, Campion and Knudstorp, specifically, provide "continuity and highly-valuable unique perspectives," the Starbucks presentation said.

Persons: Baristas, Nielsen, Maria Echaveste, Joshua Gotbaum, Wilma Liebman, Daniel Servitje, Neal Mohan, Mike Sievert, Ritch Allison, Andy Campion, Jørgen Vig Knudstorp, Allison, Campion, Knudstorp, Wendy's, Narasimhan Organizations: Starbucks, CNBC, Organizing Center, U.S . Securities, Exchange Commission, National Labor Relations Board, NLRB, Starbucks Corporation, Siren Retail, Service Employees International Union, Starbucks Workers United, Communications Workers of America, United Farm Workers of America, Chipotle, Darden, Restaurant Brands, Yum Brands, White House, Hawaiian Airlines, White, Grupo Bimbo, YouTube, Mobile, SEC Locations: Buffalo, Arlington , Virginia, China, U.S

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Starbucks workers say they're worried about the new reusable cup program
▼ + stars: | 2024-01-05 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +6 min

But some baristas are worried about how the reusable cup program will actually work. And will handing over a personal cup at the front of a drive-thru line slow down all the orders behind? Business Insider spoke to three Starbucks baristas about the reusable cup program. The Starbucks spokesperson said baristas got training on the new personal cup program — including practice time. I just can't see this working for morning rushes when we get like 30+ mobile orders per half hour."

Persons: —, they're, it's, barista, there's, baristas, we're Organizations: Starbucks, Service, Business, BI, Mobile Locations: Atlanta, Israel, Colorado, Texas

☆ Labor group seeks three board seats at Starbucks - sources
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Members of the Starbucks Workers Union and other labor organization picket and hold a rally outside a company owned Starbucks store, during the coffee chain's Red Cup Day event in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Starbucks Corp FollowNov 21 (Reuters) - The Strategic Organizing Center, a coalition of North American labor unions, is seeking three board seats at Starbucks (SBUX.O), people familiar with the matter told Reuters on Tuesday. Workers at several Starbucks stores had walked off their jobs last week in a strike organized by the Workers United union during a key promotional event demanding improved staffing and schedules. It is affiliated to Service Employees International Union, which owns a small Starbucks stake and is part of the Strategic Organizing Center, the Wall Street Journal reported. The WSJ first reported about the Strategic Organizing Center's push for board seats.

Persons: Brendan McDermid, Ananya Mariam Rajesh, Bayliss, Arun Koyyur Organizations: Starbucks Workers Union, REUTERS, Companies Starbucks Corp, Organizing, North, Reuters, Tuesday . Workers, Workers United, Service Employees International Union, Strategic Organizing, Wall Street Journal, Starbucks, ., U.S . Bureau of Labor Statistics, WSJ, Svea Herbst, Thomson Locations: New York City, U.S, North American, Bengaluru, Svea, New York

☆ Workers United calls for walkouts at hundreds of Starbucks stores on Red Cup day
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsCompanies Starbucks Corp FollowNov 13 (Reuters) - The Workers United union said on Monday that thousands of employees at hundreds of Starbucks (SBUX.O) stores will walk out on the coffee chain's key Red Cup day promotional event this week, citing staffing and scheduling issues. Starbucks hands out free reusable holiday-themed cups with coffee purchases on the popular promotional event Red Cup day, which falls on Thursday this week, in the midst of the key holiday season. The Workers United in a statement said that Red Cup day is "one of the most infamously hard, understaffed days for the baristas" at Starbucks, and called on baristas and supervisors at all Starbucks stores to walk out on Nov. 16. The union had called for protests at more than 100 Starbucks stores at Red Cup day last year. Workers United represents more than 360 unionized stores and more than 9,000 Starbucks employees, according to the union's website.

Persons: Carlo Allegri, . Workers United hasn't, they've, Juveria Tabassum, Rashmi Organizations: Empire, REUTERS, Companies Starbucks Corp, The Workers United, Starbucks, The Workers, Red, Workers, . Workers United, Reuters, Workers United, Thomson Locations: Manhattan, New York, U.S

☆ Consumer Reports finds more lead, cadmium in chocolate, urges change at Hershey
▼ + stars: | 2023-10-25 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Hershey's chocolates are pictured for sale on a store shelf in the Manhattan borough of New York City, New York, U.S. July 19, 2017. The magazine said 16 of the 48 chocolate products from various makers that its scientists tested recently in seven categories - dark chocolate, milk chocolate, cocoa powder, chocolate chips, and mixes for brownies, chocolate cake and hot chocolate - contained potentially harmful levels of lead, cadmium or both. The Consumer Reports testing followed its findings last December that 23 of 28 tested dark chocolate bars contained excessive lead or cadmium, including Hershey products sold under its own brand and the Lily's and Scharffen Berger brands. The magazine is again petitioning Hershey to reduce heavy metals in its chocolate. Consumer Reports food policy director Brian Ronholm said Hershey, as a "leading and popular brand," should commit to eliminating "dangerous levels" of heavy metals from its chocolate products, making them safer for consumers.

Persons: Carlo Allegri, Joe's, Scharffen Berger, Hershey, Brian Ronholm, Steve Voskuil, Voskuil, Christopher Gindlesperger, Jonathan Stempel, Bill Berkrot Organizations: REUTERS, Rights, Hershey Co, Nestle, Starbucks, YORK, Hershey, Consumer, Walmart, Target, National Confectioners Association, Thomson Locations: Manhattan, New York City , New York, U.S, New York

Schultz had met with a group of employees from Starbucks locations in Long Beach, California, to discuss concerns about working conditions. Lawyers for Starbucks Workers United, which is organizing the company's workers and filed a complaint on behalf of Hall, did not immediately respond to a request for comment. Starbucks and Schultz have faced allegations of widespread illegal union-busting from workers, labor groups and Democratic lawmakers. Hall then asked Schultz about allegations of illegal labor practices in complaints pending at the NLRB, according to the filings. SenatorsStarbucks must disclose spending on response to union campaign, judge rulesReporting by Daniel WiessnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Howard Schultz, Julia Nikhinson, barista, Brian Gee, Schultz, Hall, ” Gee, Gee, Jonathan Levine, Littler Mendelson, Gabe Frumkin, Barnard Iglitzin, Lindsay Parker Read, rehire, Daniel Wiessner Organizations: Starbucks, Health, Education, Labor, Capitol, REUTERS, Former Starbucks Corp, National Labor Relations, Madison Hall, Starbucks Workers, Workers, Democratic, NLRB, U.S . Department of Labor, Starbucks Corp, National Labor Relations Board, U.S, Senators Starbucks, Thomson Locations: Washington ., California, Los Angeles, Long Beach , California, U.S, Long Beach

[1/2] Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, U.S., November 17, 2022. Federal law only allows NLRB members, who are appointed by the president and confirmed by the Senate, to be removed for "neglect of duty or malfeasance in office." The Buffalo store is one of more than 360 Starbucks locations in the U.S. to unionize since 2021. The labor board is currently considering more than 100 cases accusing Starbucks of unlawful conduct, including firing union supporters, barring organizing in stores and refusing to bargain with unions. An NLRB official dismissed Cortes' petition in May, saying no election could be held until cases accusing Starbucks of unfair labor practices at the Buffalo store were resolved.

Persons: Lindsay DeDario, Ariana Cortes, Cortes, Kayla Blado, Daniel Wiessner, Alexia Garamfalvi, Deepa Babington Organizations: REUTERS, Starbucks Corp, U.S . National Labor Relations Board, Work Foundation, U.S . Constitution, Starbucks, NLRB, Senate, Democratic, Democrat, Buffalo, Thomson Locations: Buffalo , New York, U.S, New York, Washington ,, U.S ., Buffalo, unionize, Albany , New York

REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsCompanies Starbucks Corp FollowNEW YORK, Sept 18 (Reuters) - Starbucks (SBUX.O) was ordered by a federal judge on Monday to face a lawsuit claiming that several of its Refresher fruit beverages lacked a key ingredient: fruit. Consumers complained that Starbucks' Mango Dragonfruit, Mango Dragonfruit Lemonade, Pineapple Passionfruit, Pineapple Passionfruit Lemonade, Strawberry Açai and Strawberry Açai Lemonade Refreshers contained none of the advertised mango, passion fruit or açai. The judge dismissed a fraud claim, finding no proof Starbucks intended to defraud consumers, and an unjust enrichment claim. Starbucks in a statement called the allegations in the lawsuit "inaccurate and without merit," and said it looked forward to defending itself. The case is Kominis et al v Starbucks Corp, U.S. District Court, Southern District of New York, No.

Persons: Lucas Jackson, John Cronan, Joan Kominis, Jason McAllister, Cronan, Robert Abiri, Jonathan Stempel, Aurora Ellis, Richard Chang, William Maclean Organizations: REUTERS, Companies Starbucks Corp, District, Starbucks, Consumers, Honey Citrus, Starbucks Corp, Court, Southern District of, Thomson Locations: Brooklyn, New York, U.S, Manhattan, Astoria , New York, Fairfield , California, Seattle, Southern District, Southern District of New York

Ex-Trump chief of staff Mark Meadows and former Acting U.S. Attorney General Matthew Whitaker are board members. The complaints come as many experts expect an uptick in challenges to corporate diversity programs following a U.S. Supreme Court ruling in June that prohibited race-conscious college admissions policies. “There certainly is a deep psychological effect that is putting the brakes on the forward movement of diversity in the workplace,” Rossein said. America First has also filed lawsuits accusing Target Corp and Progressive Insurance of breaching their duties to shareholders by adopting diversity programs and progressive marketing campaigns, for instance celebrating LGBTQ Pride Month. Commissioner Andrea Lucas, a Trump appointee, filed a dozen charges last year, more than any of her colleagues.

Persons: Trump, Stephen Miller, Donald Trump's Mar, Jonathan Ernst, Activision's, Kellogg, Morgan Stanley, Donald Trump, Mark Meadows, Matthew Whitaker, Rick Rossein, ” Rossein, Hershey, Andrea Lucas, Lucas, Gene Hamilton, Daniel Wiessner, Alexia Garamfalvi, Daniel Wallis Organizations: REUTERS, Activision Blizzard Inc, Kellogg, U.S, Opportunity Commission, America, Starbucks Corp, McDonald's Corp, Anheuser, Busch Companies, Hershey Co, Republican, Trump, Supreme, City University of New York School of Law, Target Corp, Progressive Insurance, Activision, Democratic, Thomson Locations: Lago, Palm Beach , Florida, U.S, America, Albany , New York

REUTERS/Carlo Allegri/File PhotoCompanies Starbucks Corp FollowAug 11 (Reuters) - A U.S. judge on Friday dismissed a conservative activist investor's lawsuit against Starbucks' (SBUX.O) board, opposing the company's diversity, equity and inclusion policies and calling it frivolous. The nonprofit, which holds around $6,000 in Starbucks stock, said those policies require the company to make race-baced decisions that violate federal and state civil rights laws. The lawsuit is similar to those recently by conservative activist groups opposing corporate diversity and inclusion efforts in the wake of a June Supreme Court ruling. The ruling declared unlawful the race-conscious student admissions policies used by Harvard University and the University of North Carolina. On Friday, Daniel Morenoff of The American Civil Rights Project argued that Starbucks policies seeking to increase racial diversity among its suppliers, vendors, and employees were discriminatory and that NCPPR's cause was in the corporate interest.

Persons: Carlo Allegri, District Judge Stanley Bastian, Daniel Morenoff, Bastian, Craig, Jody Godoy, Tom Hals, Chris Reese, Marguerita Choy Organizations: Empire, REUTERS, Companies Starbucks, Starbucks, National Center for Public Policy Research, Blacks, Chief U.S, District, Harvard University, University of North, American Civil Rights, Target Corp, Thomson Locations: Manhattan, New York, U.S, Spokane , Washington, America, University of North Carolina, Florida, Wilmington , Delaware

REUTERS/Mike Blake/File PhotoCompanies Starbucks Corp FollowAug 8 (Reuters) - A U.S. appeals court on Tuesday rejected Starbucks Corp's (SBUX.O) challenge to a ruling requiring the coffee chain to rehire seven employees at a Memphis, Tennessee, store who were allegedly fired for supporting a union. Circuit Court of Appeals is the first from an appeals court involving a nationwide campaign that has seen workers at more than 300 Starbucks locations vote to unionize. "Fear of retaliation will exist unless the Memphis Seven, apparently terminated for their union support, are reinstated," Circuit Judge Danny Boggs wrote for the court. Starbucks and the labor board, which had sought the order reinstating the workers, did not immediately respond to requests for comment. More than 600 complaints have been filed with the labor board accusing Starbucks of illegal labor practices such as firing union supporters, spying on workers and closing stores during labor campaigns.

Persons: Mike Blake, Danny Boggs, Daniel Wiessner, Jonathan Oatis Organizations: REUTERS, Companies Starbucks, Starbucks, Circuit, Memphis Seven, National Labor Relations Board, U.S . Congress, U.S, Thomson Locations: Los Angeles , California, U.S, Memphis , Tennessee, Ohio, Memphis, United States, Ann Arbor , Michigan, Philadelphia, Seattle, Albany , New York

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. European shares gained modestly after euro zone inflation fell further in July seeing that most measures of underlying price growth also eased. "Data out this week should remain superficially consistent with the 'soft landing' narrative," Citi market strategists wrote in a note. Japanese 10-year yields surged to a nine-year high up to 0.6% on Monday, and toward the new cap of 1.0%. U.S. crude rose 1.63% to $81.89 per barrel and Brent was at $85.56, up 0.67% on the day.

Persons: Brendan McDermid, Florian Ielpo, Paul Christopher, Christopher, Austan Goolsbee, Sterling, Brent, Lawrence Delevingne, Nell Mackenzie, Nick Macfie, Will Dunham, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Dow Jones, Nasdaq, Apple Inc, Caterpillar Inc, Starbucks Corp, Devices, Markets, European Central Bank, Lombard, U.S, Citi, Intel, Lam Research, Wells Fargo Investment, Chicago Federal Reserve Bank, Bank of England, Bank of, Federal Reserve, Bank of Japan, Treasury, Thomson Locations: New York City, U.S, Wells Fargo, Boston, London

☆ Asia shares up as China extends rally; Japanese yields a risk
▼ + stars: | 2023-07-31 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1%, having gained almost 6% so far in July to reach a five-month high. Figures due this week include the U.S. ISM surveys on manufacturing and services, the July payrolls report and European inflation. Investors are still pondering the implications of Friday's shock decision by the Bank of Japan (BOJ) to lift the lid on bond yields, in a step away from its ultra-easy policies. Analysts at BofA estimate the BOJ's bond buying added $1.3 trillion to global liquidity in the past 18 months and provided a low floor for global rates, so any sustained rise in Japanese government bond yields could ripple though other bond markets. Japanese 10-year yields climbed further to 0.6% on Monday, still short of the new cap of 1.0%.

Persons: Yen, Bruce Kasman, Ray Attrill, Brent, Wayne Cole, Jamie Freed Organizations: Nikkei, Apple SYDNEY, Apple, JPMorgan, U.S, Bank of England, Reserve Bank of, Nasdaq, Apple Inc, Western Digital Corp, Caterpillar Inc, Starbucks Corp, Devices, Bank of Japan, National Australia Bank, Thomson Locations: China, Beijing, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Morning Bid: Asian markets face tough act to follow
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, July 31 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets columnist. Chinese stocks face the challenge of topping last week's 4.5% gain in the CSI 300 (.CSI300), the index's biggest weekly jump since November. Market participants are also scrutinizing the other side of the Sea of Japan for signs of life in the Chinese economy. Potentially market-moving U.S. indicators next week include manufacturing and services PMI. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Diane Craft Organizations: YORK, Japan's, CSI, Nikkei, Asia Pacific, Bank of Japan, Apple Inc, Western Digital Corp, Caterpillar Inc, Starbucks Corp, Qualcomm Inc, Marriott International, MGM Resorts International, Hotels, Resorts, PMI, Thomson, Reuters Locations: China, Japan, Beijing, United States, Australia, Korea

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

NEW YORK, July 6 (Reuters) - The National Labor Relations Board on Thursday sued Starbucks (SBUX.O) over the coffee chain's refusal to rehire 33 workers as it reorganized three downtown Seattle stores, including its flagship store in Pike Place Market. The petition seeks an injunction to block Starbucks from firing or disciplining workers, denying them higher wages and benefits, or forcing them to reapply for jobs because of their union activities. It also seeks to require Starbucks to offer jobs, with back pay and benefits, to the 33 people it let go. Starbucks ended its last fiscal year with 15,873 U.S. stores, of which 9,265 were company-operated and 6,608 were licensed. The case is Hooks v Starbucks Corp, U.S. District Court, Western District of Washington, No.

Persons: Jonathan Stempel, Daniel Wallis Organizations: YORK, National Labor Relations, Starbucks, Heritage, Starbucks Corp, Western District of Washington, Thomson Locations: Seattle, Pike, U.S, Western District, New York

☆ Starbucks to issue 'clearer' decor rules after pride month clash with union
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

Companies Starbucks Corp FollowJune 26 (Reuters) - Starbucks (SBUX.O) plans to issue "clearer" centralized guidelines for in-store visual displays following a union's allegations that managers banned Pride-themed decor, the coffee chain said in an internal memo to employees. "We intend to issue clearer centralized guidelines... for in-store visual displays and decorations that will continue to represent inclusivity and our brand," Starbucks North America President Sara Trilling said in the memo. The memo comes after the union representing the coffee chain's baristas alleged that managers at dozens of Starbucks locations had prevented employees from putting up Pride Month flags and decorations, or had removed them. More than 3,000 workers at over 150 Starbucks stores in the United States will walk off the job, the union said on Friday. Starbucks also filed two complaints against Workers United with the National Labor Relations Board (NLRB) on Monday, alleging that the union made misleading claims on the company's in-store decoration guidelines and gender-affirming care benefits.

Persons: Sara Trilling, baristas, Akanksha Khushi, Lavanya Ahire, Chandni Shah, Subhranshu Sahu, Rashmi Organizations: Starbucks Corp, North, Starbucks, Workers United, National Labor Relations Board, Reuters, U.S, Thomson Locations: United States, Bengaluru

☆ Starbucks to issue 'clearer' decor rules after pride month clash - Bloomberg News
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

Companies Starbucks Corp FollowJune 26 (Reuters) - Starbucks (SBUX.O) plans to issue centralized guidelines for in-store visual displays following a union's allegations that managers banned Pride-themed decor, Bloomberg News reported on Monday, citing an internal memo shared with employees. Starbucks store leaders can decorate stores for heritage months such as Pride in line with safety standards, the company's North America President Sara Trilling said in the memo, according to the report. More than 3,000 workers at over 150 Starbucks stores in the United States will walk off the job, the union said on Friday. Starbucks, NLRB and the union did not immediately respond to Reuters' requests for comment. Reporting by Akanksha Khushi in Bengaluru; Editing by Subhranshu Sahu and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Sara Trilling, baristas, Akanksha, Subhranshu Sahu, Rashmi Organizations: Starbucks Corp, Bloomberg, North, Starbucks, National Labor Relations Board, NLRB, U.S, Thomson Locations: United States, Bengaluru

[1/5] Starbucks workers attend a protest as part of a collective action over a Pride decor dispute, outside a Starbucks shop in Manhattan in New York City, New York, U.S., June 25, 2023. About a dozen Starbucks workers picketed outside New York's Astor Place location in lower Manhattan on Sunday afternoon near the route of the city's Pride parade, chanting: "New York is a union town! Starbucks spent decades building its reputation as a progressive company that supports LGBTQ+ workers and customers. Maggie McKeon, who was headed into the Starbucks at Astor Place, turned around after learning about the strike. Sam Cornetta, a barista at the Farmingville, New York, Starbucks, who joined coworkers on strike at Astor Place on Sunday, said the company was alienating LGBTQ+ workers.

Persons: David Dee Delgado, Lynne Fox, we've, Jackie Zhou, Maggie McKeon, McKeon, baristas, Arthur Pratt, Pratt, Sam Cornetta, They've, Hilary Russ, Caroline Valetkevitch, Vanessa O'Connell, Lananh Nguyen, Diane Craft Organizations: REUTERS, Starbucks Corp, Workers, Starbucks, Seattle, Workers United, Reuters, U.S, Supreme, Pride, Seattle Gay, Human Rights, HRC, National Labor Relations Board, Thomson Locations: Manhattan, New York City , New York, U.S, Astor, York, New York City, San Francisco, Chicago, Portland , Oregon, , New York, Ashland , NY, New York

☆ Wall Street ends down, snaps weekly winning streak on Fed worries
▼ + stars: | 2023-06-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

With few market-moving catalysts this week aside from Powell's congressional testimony, all three indexes notched weekly losses, ending a weeks-long rally. The Nasdaq snapped its eight-week winning streak, its longest since March 2019, while the S&P 500 (.SPX) broke its five-week rally, its longest since November 2021. The S&P 500 and the Nasdaq logged their biggest Friday-to-Friday percentage drops since early March, when the regional banking liquidity crisis hit. "You can probably count on a rate hike next month, but it's that second hike that the markets are skeptical of," Mayfield added. According to preliminary data, the S&P 500 (.SPX) lost 33.48 points, or 0.76%, to end at 4,348.41 points, while the Nasdaq Composite (.IXIC) lost 138.09 points, or 1.01%, to 13,492.52.

Persons: Jerome Powell's, Ross Mayfield, Mary Daly, Tom Barkin, Mayfield, Russell, Stephen Culp, Shubham Batra, Shristi, Richard Chang Organizations: YORK, Federal, Nasdaq, Baird, Francisco Fed Bank, Reuters, Atlanta Fed, Financial, Dow Jones, Carmax Inc, Starbucks Corp, Thomson Locations: Louisville , Kentucky, Bengaluru

☆ 150 Starbucks stores to strike over Pride decorations
▼ + stars: | 2023-06-23 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Workers at about 150 unionized Starbucks stores in the United States are going on strike Friday over the coffee chain’s policy for Pride decorations in stores. Starbucks (SBUX) Workers United, the union representing organized stores, has claimed that Starbucks (SBUX) has restricted decorations celebrating Pride month in some locations, demonstrating a “hypocritical treatment of LGBTQIA+ workers.” Starbucks (SBUX) has forcefully denied this claim. Starbucks said it is not aware of any company-owned stores that have banned Pride decorations. Starbucks Workers United says this is an example of Starbucks bowing to pressure, as Target did when moving or removing Pride merchandise from some stores. But, even if some individual managers have removed their Pride decorations, Starbucks corporate has not changed any merchandising or other policies.

Persons: ”, “ We’re Organizations: New, New York CNN — Workers, Workers, Starbucks, Starbucks Workers, US, Twitter, Pride Locations: New York, United States, Oklahoma , Arkansas, Missouri

Her comments followed a hawkish stance by Fed Chair Jerome Powell in his two-day testimony before the Senate Banking Committee earlier this week. Markets calmed briefly and the S&P 500 (.SPX) and the Nasdaq (.IXIC) added some gains in the previous session after Powell said the Fed will proceed with caution. We've heard from the various Fed governors, Powell talk about higher interest rates," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest. Yields on the 2-year, which best reflects interest rate expectations, dropped to hover at 4.71% on Friday. Investors will also monitor comments from some Fed policymakers due to speak later in the day.

Persons: Mary Daly, Jerome Powell, Powell, We're, We've, Paul Nolte, advancers, Shubham Batra, Shristi, Arun Koyyur Organizations: Starbucks, Dow, Nasdaq, Federal Reserve, San Francisco Fed Bank, Reuters, Committee, Murphy, Apple, Microsoft, Dow Jones, 3M, Carmax Inc, Starbucks Corp, NYSE, Thomson Locations: San, U.S, Bengaluru

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