TurboChef (OVEN) Sinks As Starbucks Ends Hot Sandwich Sales
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Shares of TurboChef Technologies (Nasdaq: OVEN) are under heavy pressure this morning after customer Starbucks (Nasdaq: SBUX) said they will stop selling hot breakfast sandwiches. TurboChef makes the super-quick ovens that heat up the sandwiches.
On its Q1 conference call today, Starbucks said they will stop selling breakfast sandwiches by the end of 2008 to refocus on coffee.
Starbucks, along with Subway and Dunkin Donuts, are TurboChef's top three commercial customers.
Shares of TurboChef are down over 15% today to $9.90.
On its Q1 conference call today, Starbucks said they will stop selling breakfast sandwiches by the end of 2008 to refocus on coffee.
Starbucks, along with Subway and Dunkin Donuts, are TurboChef's top three commercial customers.
Shares of TurboChef are down over 15% today to $9.90.
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