It pays to listen to Hedgeye’s analysts.
This morning on The Call @ Hedgeye, Hedgeye CEO Keith McCullough reviewed Consumables analyst Howard Penney and Communications analyst Andrew Freedman’s recent calls on the earnings of Starbucks (SBUX) and Pinterest (PINS).
“The amazing thing about Starbucks is that they didn’t see it coming,” said Penney. “How do you not know that your consumer is softening?” Penney flagged SBUX’s setup for earnings to miss on Monday this week, saying “Starbucks is broken.”
Shares of Starbucks are currently down -16%. Meanwhile, over on the long side of things…
“[PINS] pretty much went better than we could have hoped,” explained Freedman on his correct earnings call. Shares of Pinterest are currently up 20%.
“To the hedge funds that said we were dead wrong on this, good morning!” added McCullough.
Click above for the full debrief.
Helpful Links:
Join New Subscriber Orientation
New Conference: Hedgeye Live 2024 May 2-5
Hedgeye University | Become a Better Investor
Hedgeye Education Center | Learn More About Hedgeye
