Starbucks Price Levels to Watch as Stock Drops After Company Suspends Outlook

Starbucks (SBUX) shares fell in premarket trading on Wednesday after the global coffee chain suspended its 2025 outlook and reported preliminary fiscal fourth-quarter results that came in below Wall Street expectations, as new CEO Brian Niccol starts implementing a turnaround strategy. Niccol, who joined Starbucks in August after serving as CEO of Chipotle Mexican Grill (CMG), outlined plans to simplify the company’s menu and address its pricing strategy in an effort to boost sales growth. However, the coffeehouse chain said the changes will take time, adding that it was unable...