Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Thanks so much for joining us on this Wednesday, July 30th. I'm Julie Morgan.

Our top stories for today, Turnaround Talk, a seismic shock, and a crypto buying spree.

Starbucks is on our biggest movers list. Shares are up 5% in

pre-market action. The company reported better than feared fiscal Q3 results driven by resilient same

store sales that helped offset margin weakness. Comparable store sales in China rose 2% versus the 1.44% that was estimated,

while North America declined 2% less than the expected 2.49% drop. Total revenue grew 4% year-over-year

to 9.46 billion, topping estimates by 150 million.

Adjusted EPS of 50 cents missed the 65-cent consensus due to an 11-cent discrete tax charge.

CEO Brian Nicol noted that the turnaround is ahead of schedule.

Nickel introduced the Green Apron Service, calling it Starbucks' biggest investment ever in operating standards and customer service.

He said coffee houses using Green Apron Service have driven improvements in transactions, sales, and customer service times.

The company plans to uplift at least 1,000 stores across North America by the end of next year.

Introduce a new store prototype with 30% lower build cost and sunset the mobile order and pickup only concept in fiscal 2026.

Significant menu innovations are also planned for next year.

One of the questions on the earnings

call was about China. Nicol added that the company remains committed to its China business and

wants to retain a meaningful stake. He added they'll only enter a transaction if it makes sense for

Starbucks. In 8.8 magnitude earthquake, one of the strongest on record off Russia's far eastern coast

has triggered tsunami warnings and evacuation orders across the Pacific.

The earthquake happened overnight near Russia's Kamchatka Peninsula, followed by aftershocks

with a magnitude of over five off the coast and tsunami waves.

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