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Fly News Breaks for July 22, 2016
SBUX
Jul 22, 2016 | 07:37 EDT
After Starbucks reported a 4% increase in its global comparative sales that Wells Fargo calls "disappointing," the firm says that the comps were lowered by a number of "temporary headwinds," including the rollout of a new loyalty program and the delay of a happy hour promotion. The firm does not think the results indicate that the company is experiencing "underlying weakness," and it continues to believe that the company has major growth opportunities. It recommends buying the shares on any weakness.
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