Starbucks Corp. (STAR)
SBUX – Nasdaq
When Starbucks Corp. wanted to boost its flagging sales, the company did what any coffee chain would do in the same predicament: brought in someone with deep knowledge of burritos. Brian Niccol may not know anything about grande lattes, but having successfully turned around Chipotle Mexican Grill and before that Taco Bell, he was seen by Starbucks’ board as someone with the marketing expertise to revive the chain’s falling sales. Judging by Starbucks’ surging stock price after the appointment of Mr. Niccol – the company’s fourth CEO in just two years – investors are convinced he’s nacho average retail executive.
Kellanova (STAR)
K – NYSE
With its global portfolio of snacks including Pringles, Cheez-Its and Pop-Tarts, Kellanova isn’t exactly giving consumers a lot of healthy food choices. But the stock is doing wonders for investors’ financial health: Shares of the company, which was spun off from cereal giant Kellogg in 2023, soared after Kellanova agreed to be acquired by privately held Mars for US$83.50 a share, or about US$35.9-billion including debt. The deal combines Kellanova’s snack products with Mars’ iconic candy brands such as M&M’s, Skittles and Starburst. Looking forward to the Snickers-flavoured Eggo waffles.
Flutter Entertainment PLC (STAR)
FLUT – NYSE
How to lose money with sports gambling: Bet on the Leafs, Jays or Raptors to go all the way. How to make money with sports gambling: Invest in Flutter Entertainment PLC. Shares of the company that owns FanDuel, one of the largest U.S. sportsbooks, surged after it announced strong second-quarter results, including a 56-per-cent increase in adjusted earnings to US$2.61 a share and a 20-per-cent gain in revenue to US$3.61-billion. With Flutter’s growth easily topping Wall Street estimates and the company hiking its full-year guidance, investors know that the house always wins.
Victoria’s Secret & Co. (STAR)
VSCO – NYSE
Business quiz! Shares of Victoria’s Secret & Co. rose after the retailer: a) said its new line of “Childless Cat Lady” pyjamas and T-shirts sold out within hours; b) was named the official supplier of uniforms to the Hooters restaurant chain; c) tapped Hillary Super, who until now was running Rihanna’s lingerie brand Savage X Fenty, as chief executive of Victoria’s Secret in a bid to turn around the chain’s sluggish sales. Answer: c.
Dillard’s Inc. (DOG)
DDS – NYSE
There once was a business named Dillard’s
Whose investors were spilling their innards
When its Q2 sales fell
They all started to yell
“This company is run by beginners!”