News Snapshot:
Club holding Starbucks (SBUX) reported strong fiscal fourth-quarter results after the closing bell Thursday, giving us confidence that demand can endure the softness in the global economy and China's continued adherence to its zero-Covid policy. Revenue advanced to a quarterly record of $8.4 billion, exceeding expectations of $8.31 billion. Adjusted earnings-per-share came in at 81 cents, outpacing the 72-cent consensus. The stock rose more than 2% in after-hours trading as management reaffirmed their long-term guidance provided in September, which members will recall surprised the investors because of how strong it was. Bottom Line While China's rolling Covid lockdowns and restrictions...
