ike Via instant coffee -- for sale in grocery aisles.
Starbucks shares fell 2.8 percent to $32.16 in after-hours trading. The stock
sports blog , which fell below $8 in November 2008 when Starbucks' overbuilding crashed into a U.S. slowing economy, hit a 52-week high of $33.78 on Tuesday.
Option traders were expecting bullish news from Starbucks on Wednesday and were on the wrong side of that bet.
(Additional reporting by Brad Dorfman in Chicago, Nichola Groom in Los Angeles and Marcy Nicholson in New York; Editing by Phil Berlowitz)
Hot Stocks
Greece may hit its target of cutting the budget deficit by 15 billion euros this year if it can overcome public opposition and avoid a social explosion.
But even this staggering achievement may not be enough to satisfy EU demands aimed at avoiding default.
Athens' plan envisions bringing down the deficit by more than six percentage points of GDP, exceeding the four points Athens has agreed with the European Commission.
This will be a condition for a 45 billion euro ($59.94 billion) aid package Greece is discussing with European officials and the International Monetary Fund this week.
But lower tax revenues than penciled in, a jump in social costs tied to rising unemployment and higher borrowing costs mean those cuts will probably not be enough to hit an original target of an overall deficit of 8.7 percent of GDP.
And that leaves out of the equation the possibility that social unrest could sabotage the best laid plans.
The main reason for the mismatch is that, rather than a jumping off point of last year's deficit of 32.3 billion euros, the recession and its effects on revenue and spending will put this year's closer to 37 or 40 billion
sports blog , said Citigroup economist Giada Giani.
"They will manage to reduce their deficit by roughly six percentage points of GDP." Giani said.
"The problem is
sports blog , you don't know for sure how much growth will suffer and you don't know what your income tax revenue will be. The starting point is the key question mark."
Taking the 15 billion euros in planned cuts
clearance uggs whether they are UGG on cut-rate sale or not., Giani's estimate would put the final 2010 deficit at 22-25 billion euros
sports blog , or some 9.2 to 10.5 percent of GDP, assuming inflation and recession roughly cancel each other out and the econ