Consumer Stock Recap: Starbux Hidden Fee, GM Cries Foul
Starbucks (NASDAQ:SBUX) faces a class action federal lawsuit over a hidden fee of $1.50 on bags of coffees charged to customers without being disclosed on receipts. The company dropped the fee last month after getting hit with a fine from a state regulator in Massachusetts.
Honda (NYSE:HMC) expands its recall to certain cars of the following makes and model years: 2001, 2002 Accord; 2001-03 Civic; 2001-03 Odyssey; 2002, 2003 CR-V; 2003 Pilot; 2002, 2003 Acura 3.2 TL; 2003 Acura 3.2 CL. Honda previously announced recall of vehicles with risky air bags, and has since increased the total number to nearly 900,000 vehicles.
Investing Insights: 7 Retail Stocks Hitting Trading Screens.
Wendy’s (NYSE:WEN) says Nelson Peltz’s Trian can increase its stake in the firm to up to 32.5% from its current position of 26.15%.
Lululemon (NASDAQ:LULU) has now retraced the morning’s near 15% plunge on a revenue miss and weak guidance yesterday. Helping today is a trio of upgrades from Barclays, Janney, and Keybanc.
Disney (NYSE:DIS) is outperforming today. A positive Barron’s mention could be playing a role. The paper thinks Disney’s recent dividend hike could be a sign of things to come. Given its strong cash flow, it believes its current share price doesn’t appear to “fully reflect the good news.”
GM (NYSE:GM) spokesperson tells Automobile Magazine that various media outlets misinterpreted CEO Dan Akerson’s comments. The carmaker might buy back Chevrolet Volts from concerned owners. Chevy Volt owners could land free GM loaners pending the outcome of the government’s investigation into potential safety issues.
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