Starbucks’ Expansion Plans and Sony’s Big Event: Morning Buzzers
The U.S. equity markets are closed on Monday in observance of President’s day. Looking ahead, investors are anticipating a series of housing market indicators, the producer price index report, and Wal-Mart’s (NYSE:WMT) fourth-quarter earnings.
Here’s what’s buzzing on Monday morning:
Sony (NYSE:SNE) is slated to unveil the PlayStation 4 on Wednesday, and expectations for the new gaming console are mixed. The longevity of the current generation of machines, now in its seventh year, has been cited as evidence that the industry is struggling with relevancy. The launch of Sony’s new device will certainly be a catalyst, but it’s unclear what role the hardware will play in the market. Sony, for its part, has indicated that the device is one of three major pillars that the company will use to rebuild itself, along with mobile and digital imaging. Microsoft (NASDAQ:MSFT), GameStop (NYSE:GME), and major game publishers will also all have their eyes on the unveiling.
Starbucks (NASDAQ:SBUX) is reportedly looking to double its workforce in Asia over the next five years. The Asia-Pacific region is currently the fastest-growing region for the company, posting 28 percent year-over-year revenue growth in the last fiscal quarter, compared to the company’s 10.6 percent overall revenue growth. That said, it’s also currently one of its smallest business segments, with revenue of just $214.1 million, compared to total revenues of $3.8 billion.
Facebook (NASDAQ:FB) has teamed up with the Federal Bureau of Investigation after it was the subject of a “sophisticated attack” in January. The social network announced the attack on Friday, emphasizing that it did not find any evidence that user data was compromised. Attacks against popular websites are nothing new — especially websites that store valuable user information like emails and interests that can be sold to advertisers — but even in the absence of any actual data theft, a security breach is a public-relations blemish for the tech company. Privacy concerns are, of course, a hot-button issue with users.