☕ Boiling Hot Coffee Competition Brews Trouble for Long-Time Giants

Happy Wednesday, Bullseye Traders! 

☕️ It’s no longer just Starbucks ($SBUX) vs. Dunkin’ — last year, four other coffee chains joined the caffeine showdown, each opening 50+ stores. Dutch Bros ($BROS) is stirring things up as the third-largest coffee chain, brewing success with the drive-thru craze. Despite its stock roller-coaster since its 2021 IPO, now trading at less than half its October 2021 peak, the growth potential is piping hot. With 67% of Americans sipping coffee daily (up 37% over the past two decades), the future looks caffeinated.

🚗 As people buzz around town, coffee habits are shifting to daytime drive-thrus and specialty sips.

☕️ 7 Brew is on fire, skyrocketing from 40 drive-thru locations in 2022 to 200+ today. Meanwhile, Blank Street Coffee is making waves, brewing up 74 locations in just three and a half years.

📉 Starbucks slip-up: Investors might need a double shot of espresso after seeing the iconic chain's recent stock dip. US stores saw a 7% drop in transactions last quarter, leading to the biggest share slump since the pandemic. And former CEO Howard Schultz’s grand plan to dominate the Chinese market? A bit of a bitter brew, with Chinese same-store sales plunging even more.

SHAKERS AND MOVERS

Newell Brands, Stellantis, & GameStop

VOD (+5%): Vodafone dialed up a 2.2% earnings rise for 2024, with growth bars lighting up across all its global markets (Reuters).

NWL (+6%): Newell Brands got a thumbs-up from Barclays, and upgraded to Equal Weight as Wall Street finally gets the memo on its risks (Yahoo Finance).

STLA (+3%): Stellantis is shifting gears to electrify markets outside the US, striking a high-voltage deal with Leapmotor (CNBC).

WMT (-1%): Walmart is trimming the corporate fat, slashing hundreds of jobs and summoning remote workers back to the mothership (CNBC).

GME (+60%): Meme stocks are moonwalking again. GameStop led the charge, with AMC and BlackBerry riding the hype, up 32% and 12% respectively (CBS).

STREET SCOOPS: The Buzz Around Town

AP: Federal Reserve Chair Jerome Powell indicated that the central bank is playing it cool on hiking interest rates, despite inflation sticking around like a bad guest.

Reuters: Powell remains hopeful for an inflation drop but is less certain, thanks to some unwelcome recent data.

CNBC: Home Depot's first-quarter report is a mixed bag: earnings surpassed expectations, but revenue fell short as sky-high interest rates took a toll on sales.

NYP: Red Lobster unexpectedly shuttered over 50 locations nationwide, catching employees off guard and leaving seafood lovers high and dry in New York and New Jersey.

CNBC: Hedge funds betting against GameStop had a rough Monday, racking up an $838 million loss in the face of the stock's spectacular surge, according to S3 Partners.

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