SBUX Starbucks Corporation

TOP STORIES:

Grain Futures End Lower as Weather Clears

Grain futures closed lower, erasing some of Monday's gains as clearer skies in the Midwest allow farmers to resume harvesting corn and soybeans this week.

Soybean contracts for November delivery fell 0.8% to $8.84 3/4 a bushel at the Chicago Board of Trade. December corn contracts fell 0.8% and December wheat contracts fell 0.3%.

STORIES OF INTEREST:

Should Starbucks Lower its Long-Term Growth Targets? -- Market Talk

14:09 ET - Some analysts expect Starbucks to lower its long-term growth targets again to be more in line with a company that has reached maturity in some markets. The coffee giant has issued long-term annual growth targets that have been too aggressive twice in the last two years and Cowen thinks the appointment of a new CFO will be the catalyst for lowering targets to what it says is a more realistic range of 1% to 3% global same-store sales growth, down from the existing 3% to 5% target. "We believe this represents a range that the company can comfortably execute against, and desirably even exceed," Cowen notes, adding that an update could come in December, when Starbucks hosts an investor meeting. (julie.jargon@wsj.com)

Del Taco Restaurants Misses on Sales, Lowers Outlook

Del Taco Restaurants Inc. (TACO) reported a profit for the third quarter of $5.9 million, or 15 cents a share, up from $5.1 million, or 13 cents a share, a year earlier. Adjusted earnings were 15 cents a share, beating the 14 cents a share analysts polled by Refinitiv were looking for.

Total revenue for the Mexican-American quick service restaurant chain rose 6.2% to $117.8 million, missing the consensus forecast of $119.8 million.

THE MARKETS:

Hog Futures Get Support From Holiday Demand -- Market Talk

15:07 ET - Livestock futures end mixed, as CME hog futures rise 0.2% to 56.875 cents a pound, while cattle futures fall 0.3% Tuesday. Analysts say that holiday pork demand is helping support prices while traders also watch for developments regarding the outbreaks of the highly contagious African swine fever in countries like China, which is the world's largest pork producer. (francesca.fontana@wsj.com; @francescamarief)

(END) Dow Jones Newswires

October 16, 2018 17:31 ET (21:31 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.