Chipotle falls 4% as Starbucks rules out takeover, shares rise to $92.13

Starbucks (SBUX) denied reports of a potential acquisition of Chipotle (CMG), stating its focus is on its own turnaround. Chipotle's stock rose 7% on initial speculation, while Starbucks fell 3%. Starbucks' net debt to EBITDA improved to 2.04x, and EBIT margin increased to 12.92%. Starbucks reports Q4 results on October 29, which will test its turnaround progress.

Starbucks denied reports of a potential acquisition of Chipotle, according to a company spokesperson. Following the announcement, Starbucks shares rose 1%, while Chipotle's shares fell 4%. Starbucks reiterated its focus on its 'Back to Starbucks' strategy and plans to share Q4 results and fiscal 2027 outlook later this month.

Starbucks denied reports of a potential acquisition of Chipotle, stating it is focused on its growth strategy. Chipotle's stock rose 8% on takeover speculation, but analysts consider a merger unlikely. Chipotle's stock has fallen 50% since its CEO left in August 2024.

Starbucks denied reports of a takeover plan for Chipotle. Chipotle shares fell 2.79% premarket, while Starbucks rose 1.41%. Chipotle's stock had risen 6% on Thursday on takeover speculation. Both companies have hired advisers for potential deals. Chipotle's stock is down 20% over the past year.

Starbucks denied reports it was considering an acquisition of Chipotle, according to a company spokesperson. The Financial Times had reported potential deal discussions, sparking speculation. Starbucks' stock dipped briefly before recovering, while Chipotle's stock fell 4.4% by Monday morning. Starbucks emphasized its focus on its 'Back to Starbucks' strategy.

Starbucks denied acquiring Chipotle, causing Chipotle's shares to drop 4.53% to $30.16, while Starbucks' shares rose 1.68% to $92.28. Both companies have been focusing on their respective growth strategies, with Starbucks reporting a 7.9% increase in global comparable-store sales and Chipotle reporting a 9.3% revenue increase in Q2 2026.