Boeing and Microsoft tanked, while Amazon flourished. After the market closes today, Starbucks will announce its quarterly earnings, which analysts are predicting will be $2.37 billion, or 15 cents a share. A softening market and more competitors have led the company to close stores (Swine flu worries added ten to the list, if only temporarily) and introduce an instant coffee line.
Their new strategy: Instead of opening more Starbucks, open more franchises of their stealth subsidiary, Seattle's Best Coffee. Let's hope they're successful, not just for the sake of the local economy, but for the national one as well: As you may recall, Starbucks' performance is a prime national economic indicator. And the national economy sure needs a boost after today's dismal GDP report.