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Fly News Breaks for January 26, 2016
GMCR, THS, SBUX
Jan 26, 2016 | 10:48 EDT
Detwiler Fenton said TreeHouse (THS) may benefit from Keurig Green Mountain's (GMCR) and Starbucks' (SBUX) focust shift into new products. Keurig Green Mountain dropping of its private-label business opens the door for TreeHouse to take market share, the firm's analyst said. Detwiler sees TreeHouse benefiting from Starbucks' shifts away from Keurig Green Mountain and into other product opportunities.
News For THS;GMCR;SBUX From the Last 2 Days
THS
Jul 18, 2018 | 16:21 EDT
TreeHouse Foods announced that it plans to close its office in Omaha, Nebraska by January 31, 2019. The decision to close the Omaha office is part of the company's previously announced TreeHouse 2020 multi-year restructuring program to reduce its cost structure through simplification and to align the operations with the current and future needs of the business. The Omaha office closure will affect approximately 200 employees. The related work content will be consolidated into the company's existing facilities in Green Bay, Wisc. and Oak Brook, Ill. TreeHouse is committed to a smooth transition and will provide affected employees with separation pay and outplacement assistance. Costs associated with the office closure are expected to be incurred primarily over the next three quarters, and will total approximately $6M, or 8c per share, most of which is anticipated to be in cash.
SBUX
Jul 16, 2018 | 08:22 EDT
As previously reported, RBC Capital analyst David Palmer lowered his price target on Starbucks to $58 while also reducing his expected FY19 EPS to $2.66 from $2.74 and FY20 EPS view to $2.99 from $3.18. The analyst says the company will likely bring down its growth targets to "more realistic levels" of "low single-digit SSS growth and 10% EPS growth" during its upcoming earnings call given that investors are "uncomfortable" with the current long-term algorithm because of slower U.S. SSS growth and recent China SSS headwinds. Palmer keeps his Outperform rating on Starbucks however, saying the guidance reset will be perceived as a positive, while also noting that its current valuation of 18.5-times expected 2019 EPS is "reasonable" given the company's low double-digit total return.
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