Starbucks
(SBUX:
sentiment,
chart,
options)
- can't they just keep out of the news? Following their earnings report and myriad other news, the company has already had a rather busy April. With all that news in the past, SBUX decided to make some announcements today, just to keep the name in the forefront of your mind in case you didn't walk past a store in the past 10 blocks.
The first announcement was that the company will provide free Wi-Fi access at company-owned stores through AT&T (T). The service will start on May 1, and will be available at more than 7,000 SBUX locations nationwide. Good move ... and it is about time. The second announcement is that the company is pulling back on its entertainment division. Concord Music Group will now have day-to-day management of SBUX's Hear Music record label. While the stock has dropped, I applaud this decision as well ... be careful there, Howie (CEO Howard Schultz), I may have to take this away.
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