The stock dropped 4% after the closing bell Thursday following the release of its latest quarterly results. The coffee-making chain reported same-store-sales growth of 4% in the North America region, as well as globally, during the quarter. The company reported first-quarter earnings of $0.49 per share on revenue of $5.33 billion. Analysts on average were expecting earnings of $0.49 per share on revenue of $5.33 billion.
As a result, the company forecast adjusted full-year earnings between $1.88 and $1.89 per share, while current quarter earnings are expected to be between $0.54 and $0.55 per share.
The AAP charitable trust used the proceeds from the WhiteWave (WWAV) position it exited to purchase 300 shares of Starbucks at a bid/ask of about $56.56/$57.55. Portfolio managers Jim Cramer and Jack Mohr said in a note to subscribers Friday that they believed any disappointment post-third-quarter results may provide an opportunity to buy shares under $55.
Fellow AAP holding Visa (V) stock was flat after mixed quarterly results. The San Francisco-based company posted earnings of $0.69 per share, topping expectations by $0.03. Visa reported revenue of $3.6 billion, which was relatively in line with analysts' forecasts.
"While little has changed in the global economic environment, and cross-border commerce continues to be challenged by a strong U.S. dollar, domestic consumer spend across the globe remains strong and resilient," said CEO Charlie Scharf in a statement.
In a note to subscribers Friday, Cramer and Mohr said they will continue to look for opportunities to add to the position in the low $70s. The stock closed at $78.79 Thursday.
Meanwhile, AT&T's (T) shares were slipping despite meeting second-quarter profit forecasts. The telecommunications giant reported adjusted earnings of $0.72 per shares, which was in line with Wall Street's expectations. The Trifecta Stocks holding missed top-line projections, though, with revenue of $40.5 billion, which was below analysts' estimates of $40.6 billion.
Prior to Thursday's earnings, Trifecta Stocks portfolio managers Chris Versace and Bob Lang said AT&T was a "safe harbor into earnings." In a note to subscribers Friday morning, they said they noticed that some consolidation is starting to occur, which Versace and Lang said was a good thing after such a massive run in June. That being said, the portfolio managers added that "while the stock is still overbought, we see some more upside after this tight range is resolved."
AT&T shares have climbed more 23% since the beginning of the year. Since the initial buy date in March, the portfolio stock has gained more than 6%.
-- Tony Owusu contributed to this article.