Starbucks’s Big Indian Expansion, Boeing Sets Sights on Korea Contract, and 2 More Hot Stocks
Starbucks Corp. (NASDAQ:SBUX): Tata Starbucks is reportedly planning to open 100 new locations across India by next year, according to Reuters, though the publication has not provided further details on the development. The joint venture is split evenly between Starbucks and Tata Global Beverages.
Boeing Co. (NYSE:BA): It seems Boeing has the best shot of winning the $7.4 billion fighter jet order from South Korea: It was apparently the only company of the three competing for the contract to submit a tender that was under budget. “We believe our F-15 proposal can affordably meet the Republic of Korea’s requirements,” the company said to Reuters. Korean law forbids the government from signing a contract that tops the allotted budget.
ExxonMobil Corp. (NYSE:XOM): Discussions with Exxon regarding the Elk-Antelope fields are ongoing despite the lapse in the exclusivity arrangement, according to InterOil (NYSE:IOC), which has signed a $75 million secured loan facility to finance exploration and drilling activities. It’s receiving $37.5 million immediately and another $37.5 million once a deal is completed over the Elk-Antelope assets.
Saks Inc. (NYSE:SKS): Saks is reporting that its same-store sales rose 1.5 percent, missing the consensus mark of 4.5 percent. Price slashing also took its toll on the company’s gross margins, though earnings per share of -8 cents beat expectations by 5 cents. Revenues of $707.8 missed by $24 .75 million.
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