Starbucks announced strong fiscal first-quarter results
Starbucks Corp (NASDAQ:SBUX) is surging today, up 5.3% at $105.70 at last glance, despite same-store sales falling for the fourth consecutive quarter with a 4% drop. The company's fiscal first-quarter earnings of 69 cents beat estimates of 66 cents per share, while revenue came in better than expected as well. In response, a slew of analysts lifted their price targets on SBUX, including UBS to $105 from $98.
Today's pop has Starbucks stock trading at 52-week highs as it eyes its largest single-day percentage gain since September. Since the start of 2025, SBUX is already up 15.7%.
Over in the options pits, 124,000 calls and 64,000 puts have been exchanged, which is 9 times the average daily options volume already. The weekly 1/31 112-strike call is the most popular contract, with new positions being bought to open there.