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China's Luckin Coffee aims to achieve EBIT break-even in 2020
Luckin Coffee Inc - QTRLY Net Loss Per ADS Was Rmb6.56 (Us$0.96)
LUCKIN COFFEE INC. is a China-based holding company mainly engaged in coffee retail business. The Company applies new retail models for coffee sales and services. The Company operates primarily through mobile apps and pick-up stores. The Company's products mainly include freshly brewed drinks, juices and light meals. The Company's main brand is Luckin Coffee.
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Luckin Coffee <LK.O> turned in a bigger-than-expected loss as costs ballooned on store openings and heavy discounts aimed at competing with Starbucks <SBUX.O>, driving the Chinese firm's U.S.-listed stock down sharply on Wednesday.
Luckin Coffee Inc reported a more than seven-fold jump in quarterly revenue on Wednesday, in its first earnings report as a public company, as the Chinese challenger to Starbucks Corp rapidly opened new stores in its home market.
Trading on China's new Nasdaq-style board for homegrown tech firms hit fever pitch on Monday, with shares up as much as 520% in a wild debut that more than doubled the board's combined market capitalisation and beat veteran investors' expectations.
Starbucks' <SBUX.O> Chinese challenger, Luckin Coffee <LK.O>, plans to open coffee shops in the Middle East and India, in its first move overseas.
DouYu International Holdings Ltd, China's largest live-streaming platform, on Tuesday said it sold $775 million in stock at a $3.73 billion valuation after pricing its U.S. initial public offering (IPO) at the bottom of an indicative range.
* GIC, Temasek, Ontario and US pension funds among investors-sources
China's Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than $2 billion in its debut fund, giving the private equity firm more firepower to cut deals involving the world's second-largest economy.
* Says not worried about future of HK as global financial hot spot
** Morgan Stanley initiates coverage of Chinese coffee chain Luckin Coffee with an 'equal-weight' rating and PT of $21
Qualcomm lost a lawsuit brought by one DC overseer, even as the DOJ intervened, while $26 bln T-Mobile US-Sprint merger is getting yanked around by agencies with opposing views. Doing business is hard when agencies no longer act in unison. Plus: Is Luckin Coffee going cold?
* Indexes down: Dow 0.38%, S&P 0.58%, Nasdaq down 1.04% (Updates to market close)
* Dow up 0.9%, S&P off 0.9%, Nasdaq down 0.37% (Updates to late afternoon, changes dateline, byline)
Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, on Thursday priced its U.S. initial public offering at the top end of its targeted range and sold more shares than planned in the biggest U.S. float by a Chinese firm this year.
Shares of Luckin Coffee Inc surged as much as 52.7% in their market debut on Friday, indicating strong investor demand for the self-declared challenger to Starbucks Corp in China.
* Dow up 0.26%, S&P flat, Nasdaq down 0.19% (Updates to early afternoon)
* Indexes down: Dow up 0.05%, S&P off 0.10%, Nasdaq drops 0.41%
Shares of China's Luckin Coffee Inc surged 47% in their market debut on Friday, indicating strong investor demand for the self-declared challenger to Starbucks Corp in the Asian country.
* Indexes down: Dow 0.35%, S&P 0.40%, Nasdaq 0.47% (Updates to open)
* Futures down: Dow 0.82%, S&P 0.79%, Nasdaq 1.05% (Adds comment, updates prices)
Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, on Thursday priced its U.S. initial public offering (IPO) at the top end of its targeted price range, raising $561 million in the biggest U.S. float by a Chinese firm this year, according to people familiar with...
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.