Volume Spike Investor

Starbucks Corp. (Nasdaq: SBUX) shares rose 9 percent to $16.04 in early premarket trading of more than 21,000 shares. The coffee chain last night posted better-than-expected fiscal Q3 results and fiscal 2009 guidance. The company posted Q3 EPS of 24 cents a share, ex items, or 5 cents above analyst consensus. Revenue fell nearly 7 percent to $2.4 billion, slightly above expectations of $2.38 billion. Cost savings in the quarter were $175 million, exceeding the company’s previously announced target of $150 million. For fiscal 2009, the company sees EPS in a range of 74 to 75 cents a share, vs. 70 cents consensus. — Mike Tarsala