Stock Market News for Disney, AMD-Intel, and Starbucks
Today’s market news includes The Walt Disney Company (NYSE:DIS)lobbying costs, Advanced Micro Devices, Inc. (NYSE:AMD)takes a beating from analysts after Intel Corporation (NASDAQ:INTC) warns, and Starbucks Corporation (NASDAQ:SBUX) is looking to add some flavor.
The Walt Disney Co. (NYSE:DIS) spent $780,000 in the second quarter to lobby the federal government on the right of TV station owners to negotiate transmission fees with cable operators, among other issues, according to a disclosure report. That's down from the $1.26 million that Disney spent in the year-ago period, and less than the $1.25 million it spent in the first quarter of 2010. Disney also lobbied the federal government on the plan to expand broadband Internet access nationwide. In the April-to-June period, the company lobbied Congress, the Federal Communications Commission, the U.S. Copyright Office and other agencies, according to the report filed July 20 with the House clerk's office. – AP
When Intel (NASDAQ:INTC) catches a cold, Advanced Micro Devices (NYSE:AMD) gets pneumonia. Spurred by Intel’s warning last week that Q3 revenue will come in short of expectations due to “weaker than expected demand for consumer PCs in mature markets,” multiple analysts today chopped their forecasts for AMD’s performance both in Q3 and beyond. Analysts reducing forecasts include Deutsche Bank, Wells Fargo, Credit Suisse, Macquarie Research and ThinkEquity. – Barron’s
A year after introducing its Via instant coffee, Starbucks Corp. (NASDAQ:SBUX) said it will sell flavored versions of the product. The Seattle coffee giant said there’s a $377 million market for flavored coffee in the United States, and it intends to compete by selling vanilla, mocha, caramel and cinnamon spice flavors. An estimated 60 percent of Starbucks customers drink flavored coffee, while 11 percent of U.S. households buy it, the company said. The company said the product will roll out this fall. – Business First of Columbus