NEW YORK, NY / ACCESSWIRE / November 6, 2017 / Starbucks' shares fell 7% in after-market hours on Thursday after it reporting dismal quarterly results and announced it was selling its Tazo Tea Brand. The sell-off was short lived as Friday shares began to rebound and closed in the green after optimistic words from the company's CEO. Apple's shares hit a brand new high after reporting a quarterly report that awed the Street.

RDI Initiates Coverage on:

Starbucks Corporation
http://www.rdinvesting.com/report/?ticker=SBUX

Apple Inc.
http://www.rdinvesting.com/report/?ticker=AAPL

Starbucks Corporation's shares closed up 2.11% on nearly 29 million shares traded on Friday. The coffee powerhouse posted weaker earnings than expected late Thursday afternoon and also announced big news about selling its Tazo Tea Brand. Starbucks said it would be selling its Tazo Tea Brand to Unilever, a U.K. based consumer goods giant. The price tag? $384 million. It's a nice profit for the company considering that Starbucks bought the brand back in 1999 for only $8.1 million. Shares fell 7% after the company's disappointing quarterly report on Thursday but saw a slight rebound on Friday. CEO Kevin Johnson said that Starbucks will meet and exceed to be "within the top quartile of revenue growth for S&P 500 Consumer Discretionary companies." He said on CNBC's "Squawk on the Street, "The current environment that we're operating in and, with the work we're doing on throughput and innovation, we're optimistic we can exceed that. This quarter alone, we have a strong holiday planned and we're already off to a good start. We're confident in our FY18 guidance and long-term guidance we've given."

Access RDI's Starbucks Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=SBUX

Apple Inc.'s shares closed up 2.61% on Friday and touched a record high of $174.26 during intra-day trading. It was a stellar day of trading for the tech giant who saw its market valuation go above $900 billion for the first time. It was late Thursday that Apple released its earnings that beat estimates. Adjusted EPS of $2.07 was ahead of the $1.87 analysts had waited for and revenue of $52.6 billion was higher than the $50.7 billion waited for. It was also a quarter of growth compared to the year-ago quarter when Apple reported adjusted EPS of $1.67 and revenue of $46.9 billion. So what helped the company this quarter? According to CEO Tim Cook, it was the iPhone 8 and iPhone 8 Plus launch. The two phones became the company's top-selling products "instantly." Traders were also excited about the company's guidance looking forward. Cook said during the earnings call, "You can see from our guidance, we're very bullish." The company has forecast revenues for the seasonal quarter of $84 billion to $87 billion vs. $85.2 billion expected by consensus.

Access RDI's Apple Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=AAPL

Our Actionable Research on Starbucks Corporation (NASDAQ: SBUX) and Apple Inc. (NASDAQ: AAPL) can be downloaded free of charge at Research Driven Investing.

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