Starbucks Announces 2-for-1 Stock Split

Starbucks Corp. announced on Wednesday a 2-for-1 stock split, to take place on April 9, 2015. The coffee seller said this will be the first stock split implemented since October 2005, and the sixth 2-for-1 split since the company went public in 1992. The company updated its earnings-per-share outlook to account for the stock split, and now expects fiscal second-quarter adjusted EPS of 32 cents to 33 cents. The stock was down 0.2% in afternoon trade. It rallied 18% in the past three months, while the S&P 500 has gained 0.2%. Starbucks' stock closed at an all-time high of $94.55 on Feb. 26.