Starbucks Falls After Cutting Forecast Below Estimate
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Starbucks Corp., the world’s largest coffee-shop chain, fell the most in 11 months after forecasting fourth-quarter profit that trailed estimates as consumers pull back around the globe.
Starbucks dropped 9.4 percent to $47.47 at the close in New York for the biggest decline since Aug. 18. The shares have gained 3.2 percent this year.