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Tuesday, October 10, 2006

Starbucks Traders Forced to Give Up Caffeine

By William Trent, CFA of Stock Market Beat

We weren’t the only ones who noticed Starbucks traders appeared a little too hyper. Although we normally believe more is more when it comes to data, we can see the logic for cutting off the junkies in this case.

Starbucks to stop issuing monthly sales results Markets News
Starbucks Corp. (SBUX.O: Quote, Profile, Research) Chief Financial Officer Michael Casey said on Thursday that the coffee shop chain will stop releasing monthly sales results because the announcements provoked volatility in its share price.
Beginning with fiscal 2007, which started this month, Starbucks will release sales on a quarterly basis, Casey said.

There goes our monthly opportunity to poke fun at our high-strung brethren.

Disclosure: Author owns shares of Starbucks common stock, and has written covered calls to hedge half of the position. The author may hold a position in the securities discussed.

A current list of the author's holdings is available here.

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