Starbucks shares lose steam after downgrades

Fri April 25, 2003 01:58 PM ET
SEATTLE, April 25 (Reuters) - Shares of coffee shop leader Starbucks Corp. SBUX.O slumped more than 6 percent on Friday, after two Wall Street analysts cut their ratings on the stock, saying it was fully valued.
Seattle-based Starbucks met, but failed to exceed, analysts' expectations in its second-quarter earnings report on Thursday, which noted weakness in international stores and a higher-than-expected tax rate.

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