In corporate news, Starbucks (SBUX) fell -3.53% after the coffee giant said it would acquire Bay Bread and its La Boulange Bakery for $100 million in cash to expand its food offerings. The world’s most popular stockk, Facebook (FB) fell again today with its 7th loss in 10 trading days since its IPO. Currently, Facebook is trading at $26.36, an all time low. Dollar General fell -2.68% after the discount retailer announced that they would be issuing 25 million shares to the public in a secondary sharing. This secondary offering offsets great results in Dollar General’s quarterly reports with increased profit and earnings outlook.
Thomas Doherty is a student at Villanova University majoring in Finance and Economics. All questions and comments can be sent to Thomas@KeeneOnTheMarket.com