Investing
Today's Market Movers: Starbucks (SBUX) and Qualcomm (QCOM) Popping Off While SolarEdge (SEDG) and Moderna (MRNA) Down Big

Published:
The Federal Reserve’s open market committee left interest rates unchanged on Wednesday, leaving them at 5.25% to 5.5%. That sent 10-year Treasury note rates down, regenerating investor interest in equities.
In early trading on Thursday, the Dow Jones industrials are up about 0.5%, the S&P 500 is up about 0.7% and the Nasdaq Composite is up about 1.1%.
Here’s a look at some of today’s market movers.
Estimate | Actual | Surprise | |
---|---|---|---|
Revenue ($B) | 9.29 | 9.37 | 0.9% |
Adj EPS | 0.81 | 1.06 | 11.1% |
Fourth-quarter revenue reached a new all-time high on a same-store sales increase of 8% year over year. The average ticket rose 4% and total transactions rose 3%. Bigger price increases in North America lifted the average ticket by 6% and transactions by 2%.
International same-store sales rose 5%, the same as China’s increase. The average ticket was down 1% internationally and down 3% in China. Transactions picked up the slack, rising by 6% internationally and 8% in China.
In its initial outlook for the 2024 fiscal year, Starbucks said on its conference call that it expects recent momentum in China to continue. The company sees same-store sales rising by 4% to 6% in the first half of the fiscal year. Global and U.S. same-store sales were forecast to increase by 5% to 7% for the full year. (These are America’s most trusted food & drink brands.)
Starbucks expects its store count to rise by 7% globally, including a U.S. increase of 4% and 13% growth in China.
Shortly after Thursday’s opening bell, Starbucks stock traded up 11%, at $101.37 in a 52-week range of $82.97 to $115.48.
Estimate | Actual | Surprise | |
---|---|---|---|
Revenue ($B) | 8.51 | 8.67 | 1.8% |
Adj EPS | 1.91 | 2.02 | 5.8% |
On its conference call, Qualcomm said calendar year handset sales for 2023 will fall by mid-to-high single digits, somewhat better than its earlier estimate. (U.S.-China trade wars: How nine imports threaten U.S. national security.)
Qualcomm also pointed at the AI on-device market as a potential requirement for mobile device OEMs. Without naming names, the company believes its new Snapdragon chip is a solid challenger to Apple’s latest mobile and desktop/laptop chips.
Shares traded up 6.4% early Thursday morning at around $118.00 in a 52-week range of $101.47 to $139.94.
Estimate | Actual | Surprise | |
---|---|---|---|
Revenue ($M) | 769.2 | 725.3 | -5.7% |
Adj EPS | 0.83 | 0.55 | -33.7% |
Adding to the misery, SolarEdge issued downside guidance for the fourth quarter. The company sees revenue of $300 to $350 million, compared to the previous analysts’ consensus estimate for revenue of $715.2 million.
SolarEdge stock is getting pummeled early Thursday, trading down more than 15% at the opening bell. After about half an hour, shares traded down about 5.7 $71.60. in a 52-week range of $63.25 to $345.80. The low was posted this morning.
Estimate | Actual | Surprise | |
---|---|---|---|
Revenue ($B) | 1.38 | 1.83 | 33.2% |
Adj EPS | -1.93 | -9.53 | -393.8% |
Thinking ahead (way ahead), the company said it expects fiscal 2024 sales of about $4 billion and the return of organic sales growth in 2025. The company reported $12.8 billion in cash and other liquidity, a decline of $2 billion since the end of the second quarter. In its remarks about the future, Moderna said it expects a cash balance at the end of 2024 of around $9 billion. At the end of 2025, the cash balance is likely to dip to a range of $6 to $7 billion. This is not good news for investors. (These are the youngest members of the Fortune 500.)
Moderna stock was hammered early Thursday, trading down about 6%, at $71.63 in a 52-week range of $62.55 to $217.25. The low was posted early this morning.
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.