Tyson Foods' (TSN) settlement agreement with direct purchaser plaintiffs over the company's alleged beef price-fixing scheme received preliminary approval Thursday from a federal judge in the US District of Minnesota.
Price: $66.09, Change: $-0.57, Percent Change: -0.86%
(Updates with response from a Starbucks spokesperson in the fifth and sixth paragraphs.)Starbucks' (SBUX) board approved reassessing its Starbucks Reserve and Roastery locations and non-retail support facilities, which is expected to entail job cuts, according to a Friday filing.News outlets reported Friday that the move will see the closure of a number of regional support offices and 300 corporate job cuts in the US.The company estimates about $280 million in restructuring charges from the optimization of its locations and $120 million related to employee separation benefits, with a significant portion of the charges to be incurred in fiscal 2026, according to the filing.Starbucks expects to complete majority of the planned actions by the end of this fiscal year, the company said. The moves are part of a wider restructuring plan that is intended to yield $2 billion in cost savings, Starbucks added.A Starbucks spokesperson toldthat the company is taking further actions under its "Back to Starbucks" strategy as it seeks to return to durable, profitable growth. The company is aiming to simplify operations, reduce complexity and lower costs as part of a broader efficiency effort.As part of these measures, Starbucks is eliminating about 300 US support roles and reviewing its international support organization as it shifts toward a more streamlined global licensing model, with additional job impacts expected outside the US. The company is also reducing its real estate footprint, including consolidating regional support offices and reassessing lease commitments, the spokesperson added.Price: $106.28, Change: $-0.13, Percent Change: -0.12%
Bio-Rad Laboratories' (BIO) sales growth should recover in 2027 following idiosyncratic product headwinds, RBC Capital Markets analysts said in a Thursday note.Analysts said that the company's new management will make efforts to structurally improve its margin profile.RBC said that some of the challenges Bio-Rad faces are company-specific, noting, for instance, that demand for Bio-Rad's process chromatography products is negatively impacted this year by the US Center for Disease Control's revisions of the childhood and adolescent immunization schedule.Analysts said that the company's near-term earnings before interest and taxes, or EBIT, margin growth target in the mid-teens, up from the 11% guidance for 2026, strongly signals meaningful restructuring ahead.RBC resumed coverage on the stock with an outperform rating and a $320 price target.Price: $248.61, Change: $+2.34, Percent Change: +0.95%
Sarepta Therapeutics' (SRPT) Elevidys is put under a "little" pressure on Regenxbio's (RGNX) positive trial data in Duchenne muscular dystrophy, Wedbush Securities said in a note Friday.The note pointed to statistically significant correlation between microdystrophin expression and functional improvement in the trial of RGX-202, and should benefit all microdystrophin gene therapy programs/products."We see no other big impact on Elevidys," it said. "We do not believe that the relatively small patient number in RGNX's study allows for a fair comparison of microdystrophin expression."The report also said the regulatory pathway for RGX-202 remains to be defined.Wedbush kept its outperform rating and a $35 price target.Price: $18.12, Change: $-0.56, Percent Change: -3.00%