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☆ Starbucks 'needs' the kind of innovation that Chipotle has, says asset management firm
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks 'needs' the kind of innovation that Chipotle has, says asset management firmJake Dollarhide of Longbow Asset Management discusses Starbucks' replacement of CEO Laxman Narasimhan with Chipotle CEO Brian Niccol and whether Niccol has what it takes to manage the company's international business.

Persons: Jake Dollarhide, Laxman Narasimhan, Brian Niccol, Niccol Organizations: Longbow, Management, Starbucks

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, Starbucks, Chipotle, Eli Lilly, Target, TJX Companies, Coinbase and more
▼ + stars: | 2024-08-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Stifel upgrades Starbucks to buy from hold Stifel upgraded the coffee chain following the management shakeup that included a new CEO. Jefferies upgrades Sportradar to buy from hold Jefferies upgraded the Swiss global sports tech company, saying it's becoming "increasingly attractive." Morgan Stanley reiterates Target as overweight Morgan Stanley said it's sticking with its overweight rating heading into Target 's earnings next week. Berenberg reiterates Eli Lilly as buy Berenberg raised its price target on the drugmaker to $1,050 per share from $1,000. TD Cowen upgrades Ilumina to buy from hold TD Cowen sees revenue growth ahead for the biotech company.

Persons: Wolfe, PulteGroup, rais, Brian Niccol, Baird, Tesla, it's bullish, Goldman Sachs, Goldman, Elliott, Wells, Equitrans, ETRN, Jefferies, it's, SRAD, Bernstein, Chipotle, Morgan Stanley, Berenberg, Eli Lilly, Lilly, circumspection, Ross, BURL, ROST, Oppenheimer, TD Cowen, mgmt Organizations: Stifel, RBC, Johnson, underperform RBC, Elliott Management, Barclays, Nvidia, JPMorgan downgrades Emerson, JPMorgan, Deutsche Bank, Deutsche, Ball Corp, Ball Corporation, Montrose Environmental, Stock, Intuit, Citi, Palo Alto, Bank of America, TJX Companies, Argus Locations: Florida, Underperform, Swiss, Montrose, QuickBooks, Burlington, Coinbase, China, Hershey

☆ CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Economic uncertainty Home Depot exceeded quarterly expectations but lowered its full-year sales outlook , citing weak demand due to high interest rates and consumer uncertainty. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. The baristas have to be energised, clearly they've had some union problems, clearly they've had a lot of new products that haven't worked," Palmer told CNBC "Squawk on the Street." Chief Financial Officer Richard McPhail told CNBC, "Customers aren't just deferring because of higher financing costs.

Persons: Richard McPhail, Laxman Narasimhan, Brian Niccol, Narasimhan, Mellody Hobson, Narasimhan —, Niccol, David Palmer, they've, haven't, Palmer, Sarat Sethi, CNBC's, Sethi, —, Sarah Min, Amelia Lucas, Brian Evans, Samantha Subin, Jennifer Elias, Jeff Cox, Spencer Kimball Organizations: New York Stock Exchange, CNBC, Jefferies, Google, Apple, Gemini, Evercore ISI, Depot, Douglas, Lane & Associates, McDonald's, Starbucks, Walmart Locations: New York City, China

☆ 6 ways Starbucks' incoming chief Brian Niccol transformed Chipotle
▼ + stars: | 2024-08-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Niccol has a "great track record" and is an "outstanding" hire for Starbucks, Edward Jones restaurant analyst Brian Yarbrough told Business Insider. Alongside Curt Garner, the chain's chief information officer who joined in 2015, Niccol helped spearhead Chipotle's digital turnaround. In Niccol's first full year at Chipotle, in 2019, digital sales were up 90%. AdvertisementMost locations already had two make lines when Niccol joined Chipotle, but the strategy was unclear, BI previously reported. "Whether you're a light, medium, or heavy user, when you're in the rewards program, you come more frequently and you spend more," Niccol told investors in February.

Persons: —, Taco Bell, Brian Niccol, Laxman Narasimhan, Niccol, Edward Jones, Brian Yarbrough, William Blair, Sharon Zackfia, Howard Schultz, He's, perf, Chipotle, Chipotle's, Gregory Rec, Jack Hartung, Curt Garner, they'd, Jefferies, Andy Barish Organizations: Service, Taco, Starbucks, Business, Portland Press, Getty, Niccol's, BI Locations: Chipotle, Ohio, China

☆ Starbucks investors ultimately want to see traction on the traffic side, says Citi's Jon Tower
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks investors ultimately want to see traction on the traffic side, says Citi's Jon TowerJon Tower, Citi restaurant analyst, joins 'Squawk Box' to discuss the fallout from Starbucks replacing its current CEO with Chipotle CEO Brian Niccol, challenges facing the incoming CEO, what to do about Starbucks' China business, and more.

Persons: Jon, Jon Tower, Brian Niccol Organizations: Citi, Starbucks Locations: China

☆ Howard Schultz is looming in the background of Starbucks' latest CEO transition
▼ + stars: | 2024-08-14 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Former Starbucks CEO Howard Schultz looms over the company's leadership, even after stepping down. Schultz has endorsed Niccol as "the leader Starbucks needs". Go to newsletter preferences Thanks for signing up! On Tuesday, Starbucks announced that Brian Niccol, the former CEO of Chipotle, will succeed Laxman Narasimhan as CEO. The influence of Howard Schultz, Starbucks' former CEO and chairman, still looms large and could complicate Niccol's efforts to steer the company forward.

Persons: Howard Schultz, Brian Niccol, Schultz, Niccol, —, hasn't, Laxman Narasimhan Organizations: Starbucks, Service, Business Locations: Chipotle

☆ CNBC Daily Open: Wall Street soars; Starbucks ousts CEO
▼ + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street soarsWall Street rose after producer prices came in softer than expected, raising hopes of a rate cut. Starbucks ousts CEOStarbucks surprised investors by replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, driving Starbucks' stock up more than 24% while Chipotle fell as much as 10%. Under Narasimhan's tenure, Starbucks' performance has struggled, marked by weak sales in the U.S. and China, its two largest markets. The latest inflation data strengthens the market's expectations of an interest rate cut at the Fed's September meeting.

Persons: Laxman Narasimhan, Brian Niccol, Chipotle, Niccol, Richard McPhail Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Nvidia, Microsoft, Apple, Treasury, Starbucks, Google, Gemini, Federal Reserve, PPI Locations: New York City, U.S, China

☆ Stocks making the biggest moves premarket: Kellanova, Alphabet, Flutter and more
▼ + stars: | 2024-08-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Kellanova — Shares rose more than 6% in the premarket after the foodmaker agreed to be acquired by snackmaker Mars for $83.50 per share in cash. Flutter — The FanDuel parent popped 6.3% after posting better-than-expected revenue in the second quarter and raising its full-year guidance. Brinker International — Shares of the restaurant chain behind Chili's plunged 15% after Brinker International posted fiscal fourth-quarter earnings that disappointed and issued weaker-than-expected full-year earnings guidance. Adjusted earnings of $1.61 per share came in below the FactSet consensus estimate of $1.72 earnings per share. The Ohio-based company also raised its full-year guidance for earnings per share.

Persons: snackmaker Mars, Brinker, Chili's, Health —, Cardinal, StreetAccount, Brian Niccol, Wells Fargo, Cowen, —, Fred Imbert, Michelle Fox, Pia Singh, Sarah Min Organizations: Bloomberg News, Justice, Brinker International, Holdings —, Intel, Health, Deutsche Bank, Stifel Locations: British, Ohio, Wells

Starbucks is parting ways with its CEO and bringing in the head of Chipotle to lead the coffeeshop chain, as it seeks to revive flagging sales and appease outside investors. Starbucks announced Tuesday that Brian Niccol, who has led the Mexican-style chain since 2018, will take over the coffee giant starting next month. Laxman Narasimhan, who'd been with Starbucks for less than two years, is exiting the company. But in its release announcing the change, Starbucks said Niccol had "transformed" Chipotle. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially takes over the top job.

Persons: Brian Niccol, Laxman Narasimhan, who'd, who’d, Chipotle, Niccol, Rachel Ruggeri, Scott Boatwright, Jack Hartung Organizations: Starbucks Locations: Mexican, U.S, China

☆ Chart of the Day: Starbucks and Chipotle
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: Starbucks and ChipotleStarbucks soars while Chipotle sinks on news of a leadership shakeup. The Investment Committee discusses these two companies.

Organizations: Investment

☆ A trade that wins if the drop in Chipotle after CEO jumps to Starbucks is overdone
▼ + stars: | 2024-08-13 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Chipotle Mexican Grill (CMG) shares are getting wrecked after its CEO Brian Niccol left to try and turn around Starbucks. With a positive outlook on CMG, I see this pre-market drop as an opportunity to invest in a company that seems almost recession-proof. The trade To initiate a bullish position on CMG, I plan to use a strategy known as a "bull call spread." This trade was written assuming Chipotle was trading around $51 a share. If CMG trades at or above the short strike by the expiration date, this trade could yield a return of 100% on the amount risked.

Persons: Brian Niccol, let's, Chipotle Organizations: Grill, CNBC, NBC UNIVERSAL Locations: Chipotle

☆ Chipotle's Brian Niccol is 'the guy' to turn around Starbucks' premium brand, says Evercore's Palmer
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle's Brian Niccol is 'the guy' to turn around Starbucks' premium brand, says Evercore's PalmerDavid Palmer, Evercore ISI analyst, joins 'Squawk on the Street' to discuss the challenge of reestablishing the premium brand Starbucks once was, why the analyst didn't rerate Starbucks' stock, and much more.

Persons: Brian Niccol, Evercore's Palmer David Palmer, didn't

☆ Stock market today: Stocks soar as investors cheer soft PPI and brace for consumer inflation data
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US stocks rallied on cooling inflation data from the producer price index report. Investors are hoping for evidence of further cooling in Wednesday's consumer price index. Starbucks gained 23% on Tuesday on news Chipotle boss Brian Niccol will be the new CEO. The Bureau of Labor Statistics reported that the producer price index rose 0.1% in July, underwhelming estimates of a 0.2% increase. Investors will now watch for further disinflationary signals in Wednesday's consumer price index report.

Persons: Brian Niccol, —, Dow, Jamie Cox Organizations: Investors, Starbucks, Service, Labor Statistics, Nasdaq, Federal Reserve, Fed, Harris Financial Group, Bank of America

☆ Starbucks Chair Mellody Hobson on Chipotle CEO Niccol: He's a culture carrier and beloved leader
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks Chair Mellody Hobson on Chipotle CEO Niccol: He's a culture carrier and beloved leaderStarbucks Chair Mellody Hobson joins 'Squawk Box' to discuss news of the company replacing its CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, how the decision was made, the challenges facing the company today, why Brian Niccol was picked as the new CEO, and more.

Persons: Mellody Hobson, Laxman Narasimhan, Brian Niccol

☆ Wednesday's big stock stories: What’s likely to move the market in the next trading session
▼ + stars: | 2024-08-13 | by ( Jason Gewirtz | ) www.cnbc.com time to read: 1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8, 2024. Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching during the rebound and what's on the radar for the next session. Weekly mortgage applicationsChipotle

Organizations: New York Stock Exchange, CNBC Locations: New York City, U.S

☆ Starbucks Names Chipotle Boss as New C.E.O.
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

The chief executive of Chipotle Mexican Grill is moving over to Starbucks, the coffee chain announced on Tuesday. Brian Niccol, who has held the top position at Chipotle since 2018, will take the helm of Starbucks next month, the company said. He will replace Laxman Narasimhan, whose relatively brief tenure began in March last year, when he became the first chief executive to come from outside the company. Mr. Niccol’s career also includes a stint as chief executive of Taco Bell. Mr. Narasimhan will step down as chief executive and board director immediately, with the chief financial officer Rachel Ruggeri stepping in as interim chief executive until Sept. 9.

Persons: Brian Niccol, Laxman Narasimhan, Niccol’s, Narasimhan, Rachel Ruggeri Organizations: Starbucks, Taco Bell Locations: Chipotle, United States, China

☆ TD Cowen upgrades Starbucks to buy
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTD Cowen upgrades Starbucks to buyAndrew Charles, TD Cowen research analyst, joins 'Money Movers' to discuss the similarities between Brian Niccol's position with Starbucks now and Chipotle some years ago, how Niccol was able to impact Chipotle, and more

Persons: Cowen, Andrew Charles, TD Cowen, Brian Niccol's, Niccol Organizations: Starbucks

Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.

Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza

☆ Starbucks is betting big that Chipotle's CEO can make it special again. He'll have his work cut out for him.
▼ + stars: | 2024-08-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Laxman Narasimhan, Starbucks' current CEO, will step down effective immediately from his roles as CEO and a member of Starbucks' board of directors, the company said. In his tenure at Chipotle, Niccol made several changes. He also oversaw an expansion of Chipotle's online-ordering options just before delivery and pickup became essential to the restaurant business early in the pandemic. The road ahead at StarbucksAt Starbucks, Niccol will face some challenges similar to those he took on at Chipotle. AdvertisementStarbucks sales have also fallen lately in China, which is home to nearly one-fifth of all the chain's stores.

Persons: —, Brian Niccol, Niccol, Laxman Narasimhan, Elliott, Chipotle, Brian, Melody Hobson, Peter Saleh, Saleh Organizations: Service, Starbucks, Business, Street, Elliott Investment Management, Taco Bell's, Wall Street, Analytical Research Locations: Chipotle, Denver, Orange County , California, China

☆ Starbucks upgraded already by Wall Street firm as it makes stunning CEO change
▼ + stars: | 2024-08-13 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Wall Street wasted no time getting behind Starbucks shares after the No. 1 U.S. coffee restaurant named Chipotle CEO Brian Niccol as CEO , dumping Laxman Narasimhan. Baird upgraded Starbucks to outperform from neutral shortly after the news and before trading even began on Wall Street officially. Starbucks shares have struggled for the last three years after an initial demand boom following the pandemic. SBUX 5Y mountain Starbucks, 5 years Baird set a new price target of $110 on Starbucks, which represents a 40%-plus pop from Monday's close.

Persons: Brian Niccol, Laxman Narasimhan, Baird, David Tarantino, Narasimhan, Niccol, Taco Bell Organizations: Wall, Starbucks, Taco Bell, Yum Brands, Taco, Procter, Gamble

☆ Cramer says new Starbucks CEO Brian Niccol is key to the company's turnaround after management shake-up
▼ + stars: | 2024-08-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday discussed Starbucks ' management shake-up, saying the new leadership will be crucial to turn the business around after the ubiquitous coffee chain announced it would replace CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle . "Brian Niccol is the key to a new Starbucks, one that can reclaim its old mantle as the 'third place' — you just need to know that this turnaround can't happen overnight," he said. According to Cramer, Narasimhan wasn't the right person for the role, saying Starbucks needed an executive familiar with the fast-food industry to effectively solve its issues. Niccol's record at Chipotle makes him a great fit for the role, Cramer said. "No, Starbucks brought in Brian Niccol, the man who almost singlehandedly turned around Chipotle, to run the business.

Persons: CNBC's Jim Cramer, Laxman Narasimhan, Brian Niccol, Cramer, Narasimhan, Niccol Organizations: Starbucks, McKinsey, PepsiCo, Chipotle Locations: U.S, China, Chipotle

☆ Three-Stock Lunch: Home Depot, Starbucks and Chipotle
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Home Depot, Starbucks and ChipotleWill McGough, Prime Capital Investment Advisors director of investments, joins 'Power Lunch' to discuss stock plays for three stocks: Home Depot, Starbucks and Chipotle.

Persons: Will McGough Organizations: Starbucks, Prime Capital Investment

☆ Starbucks is replacing its CEO with the boss of Chipotle in an abrupt management shake-up
▼ + stars: | 2024-08-13 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Starbucks CEO Laxman Narasimhan has stepped down effective immediately. Brian Niccol, the current CEO of Chipotle, will replace Narasimhan in early September. This leadership change comes as Starbucks works to turn around its business. Go to newsletter preferences Thanks for signing up! The news comes as Starbucks looks to turn around its business amid faltering sales in recent months.

Persons: Laxman Narasimhan, Brian Niccol, —, Narasimhan Organizations: Starbucks, Narasimhan, Service, Business

☆ Stocks making the biggest moves premarket: Home Depot, Starbucks, Hormel Foods, Chipotle and more
▼ + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Starbucks , Chipotle Mexican Grill — Shares of the coffee chain popped more than 11% in the premarket after the company replaced its chief executive, Laxman Narasimhan, with Chipotle CEO Brian Niccol . Chipotle shares were down about 10%. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below the StreetAccount estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Kodiak Gas Services — The natural gas services company dipped 2.7% after posting a year-over-year fall in earnings and a top-line miss.

Persons: Laxman Narasimhan, Brian Niccol, Riley, —, Jesse Pound, Fred Imbert Organizations: Home Depot, Entertainment Group, Kodiak Gas Services, Kodiak, Revenue, Citigroup, Riley, SEC, Securities and Exchange Commission Locations: StreetAccount

☆ Watch CNBC's full interview with Starbucks Chair Mellody Hobson
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Starbucks Chair Mellody HobsonStarbucks Chair Mellody Hobson joins 'Squawk Box' to discuss news of the company replacing its CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, how the decision was made, the challenges facing the company today, why Brian Niccol was picked as the new CEO, and more.

Persons: Hobson, Mellody Hobson, Laxman Narasimhan, Brian Niccol Organizations: Starbucks

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