77.39 -0.14 (-0.18%)
Pre-market: 6:45AM EDT
|Bid||77.05 x 800|
|Ask||77.69 x 2900|
|Day's range||76.75 - 77.85|
|52-week range||47.37 - 79.65|
|Beta (3Y monthly)||0.43|
|PE ratio (TTM)||33.49|
|Earnings date||25 Jul 2019|
|Forward dividend & yield||1.44 (1.85%)|
|1y target est||77.64|
Luckin Coffee Inc., a China-based company that has quickly become a key competitor to Starbucks Corp. in that country, has filed paperwork to go public.
Starbucks Corp. said Monday that it is opening a store designed for the deaf and hearing impaired in China, the first in that country but third of its kind. The store, which will be located near the Guangdong Disabled Association and Guangdong Deaf People Association, will offer jobs for the deaf community. Starbucks currently has more than 100 staff members with physical challenges in China. Starbucks' other two signing stores are in Malaysia, which opened in 2016, and Washington, D.C., which launched in 2018. Starbucks stock is up 19.5% for the year to date, outpacing the S&P 500 index , which is up 13.5% for the period.
The White House has threatened to introduce 25% tariffs on $200 billion of Chinese goods. China is a large part of Apple’s supply chain, and FactSet estimates Apple gets almost 20% of its revenues from there.
For now, American investors seem impressed enough by Luckin’s aggressive expansion plan for the Xiamen-based company to raise a higher-than-expected $561 million in its initial public offering Thursday. Reinout Schakel, the company’s chief financial officer, said he was pleased with the trading debut. The Chinese startup is seeking to overtake Starbucks, opening more stores in two years than the industry giant has in 20 years.
NEW YORK (AP) — Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20% in their U.S. stock market debut Friday.
After opening at $17.00, shares of the Chinese Starbucks competitor climbed as high as $25.96, or more than 50%, before settling back down to $20.38 at the market's close. The company has a market cap north of $5 billion after its first day of trading. The brick-and-mortar coffee chain has achieved major success in China by offering speedy delivery services to Chinese consumers.
A rare mix of geopolitical tensions in the Middle East and China is tugging oil prices in opposite directions and creating uncertainty over where they might land. Deteriorating trade talks between the United States and China have threatened to drive down the cost of oil and gasoline. WASHINGTON (AP) -- Caught in a sprawling trade dispute with U.S. rival China, President Donald Trump has decided against declaring commercial war on America's friends.
Luckin sold 33 million American depositary shares Thursday for $17 each, after marketing 30 million shares for $15 to $17. The IPO topped earlier expectations of a share sale that people familiar with the plans said in February could raise about $300 million. Concurrent with the IPO, the company raised an additional $50 million through a private placement with Louis Dreyfus Co., according to its filings.
Luckin Coffee is challenging Starbucks’ long-held dominance of China’s freshly-brewed coffee market. It has expanded rapidly in less than two years.
Chinese coffee chain Luckin Coffee started trading on the public markets Friday—and the stock started hot. (LK) stock, trading on the Nasdaq exchange under the ticker symbol LK, quickly surged 47% above the IPO price of $17. It rose almost as high as $26 per share before closing at $20.38 per share, for a one-day gain of 19.9% over the IPO price.
China's homegrown coffee chain Luckin Coffee is seeking help from the U.S. capital markets in its quest to overtake Starbucks.
The IPO gives Luckin more firepower and exposure to fuel its ambitious plan of overtaking Starbucks in China this year as the largest coffee chain by number of outlets. Luckin has 2,370 stores in China and plans to open 2,500 more this year to go past Seattle-based Starbucks, which has long dominated China's coffee scene and has over 3,600 stores in the country.
Starbucks shares hit an all-time high ahead of Chinese rival Luckin Coffee revealing the pricing for its initial public offering.
NEW YORK/HONG KONG (Reuters) - Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, on Thursday priced its U.S. initial public offering at the top end of its targeted range and sold more shares than planned in the biggest U.S. float by a Chinese firm this year. The Beijing-based coffee chain raised $561 million by selling 33 million American depositary shares (ADS), more than the 30 million it originally said it would sell, at $17 each - at the top end of an indicative range of $15 to $17. Each ADS represents eight Class A shares, the company said in a filing with the U.S. Securities and Exchange Commission last week.
Another week, another cash-burning tech IPO in the U.S. Following on from Uber's high-profile listing, ambitious Chinese startup Luckin Coffee has raised up to $650.8 million on the Nasdaq after it priced its shares at $17. Despite concern at its high losses and little chance of near-term profitability, Luckin seems to have been greeted positively by investors. Luckin filed to go public last month, just weeks after it closed a $150 million Series B+ funding round led by New York private equity firm Blackrock, which interestingly holds a 6.58% stake in Starbucks.
Luckin Coffee Inc. , a Chinese coffeeshop chain often compared with Starbucks Corp. , increased the number of shares it will sell in its initial public offering and priced them at $17 apiece, according to multiple reports Thursday evening. CNBC, Reuters, Bloomberg News and Renaissance Capital all reported late Thursday that Luckin planned to sell 33 million shares, as opposed to the 30 million previously targeted, at the top of its proposed $15-to-$17 range. That sale would raise $561 million at an initial valuation of $3.9 billion. Shares are expected to begin trading Friday morning on the Nasdaq exchange under the ticker symbol LK.