Skip to main content

Starbucks will increase pay and benefits

The markets traded mixed during the midday with the Dow rising 21 points to 26,231. Nasdaq fell 36 points to 7423.


Starbucks announced new benefits and compensation initiatives for all of its employees. Baristas will receive $500 in stock grants, up to six weeks of paid parental leave, and five days of sick leave for those employees working over 23 hours per week. Hourly wages and salaries will also increase beginning in April.


Qualcomm was fined $1.23 billion by the European Union for making illegal payments to Apple. The chipmaker is accused of stifling competition by paying Apple to use its products exclusively. Between 2011 and 2016, the EU said that Qualcomm supplied Apple with its chips at reduced prices on the condition that iPhones and iPads only used Qualcomm chips.


Toys R Us will close approximately 180 stores nationwide as part of its restructuring plan to exit bankruptcy protection. Stores will begin shutting their doors in February with the closure process continuing through April. After accumulating $5 billion in debt, the retailer filed for bankruptcy protection in September 2017.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 2,839. Bitcoin climbed $101 to $11,151.


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.