CEO Swap: Starbucks Surges 22% on Hiring New CEO From Chipotle

Starbucks TodaySBUXStarbucks $94.20 +17.17 (+22.29%) 52-Week Range$ 71.55▼ $107.66Dividend Yield2.42%P/E Ratio25.95Price Target$ 90.88Add to WatchlistGlobal coffeehouse chain and coffee supplier Starbucks Co. NASDAQ: SBUX made a bombshell announcement that it is replacing current CEO Laxman Narasimhan with the current CEO of Chipotle Mexican Grill Inc. NYSE: CMG Brian Niccol. The news caused Starbucks shares to surge by 22% in premarket trading, while Chipotle shares fell 13% as traders engaged in a pairs trade ...