Weak Results, Bear Notes Weigh Heavy on 2 Stocks

Earnings Overview - Earnings reports are currently the focus, with Starbucks Corp and Snap Inc experiencing significant declines after their quarterly results failed to meet investor expectations [1] Starbucks Corp - Starbucks stock is down 10.1% following a fiscal second-quarter report that missed analysts' expectations, with revenue reported at $8.7 billion and U.S. same-store sales declining by 2% [2] - CEO Laxman Narasimhan expressed optimism about the company's turnaround despite the weak results [2] - Stifel reduced its price target for Starbucks from $103 to $92, with at least 10 other firms also revising their price targets downward; the average 12-month target price is now $93.98, indicating a 10.6% premium to the previous close [2] Snap Inc - Snap stock is down 15.2% in premarket trading after reporting slightly better-than-expected first-quarter revenue but withholding second-quarter guidance due to macroeconomic uncertainty [4] - The company cited emerging "headwinds" that prompted a more cautious outlook [4] - MoffettNathanson cut its price target for Snap from $8 to $1, with 11 other analysts also reducing their price objectives; the consensus 12-month target price is $10.05, suggesting a 31.7% premium to Tuesday's close [5]