Starbucks Corp
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Consumer Discretionary : Hotels, Restaurants & Leisure | Large Cap Blend
Company profile

Starbucks Corp is a coffee roaster and retailer of specialty coffee with operations in approximately 82 markets around the world. The Company has over 32,000 Company-operated and licensed stores. It operates through three segments: Americas, International and Channel Development. It also sells a variety of coffee and tea products and license its trademarks through other channels, such as licensed stores, grocery and foodservice. It purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of food items through Company-operated stores. In addition to its flagship Starbucks Coffee brand, it sells goods and services under various brands, including Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve and Princi.

Closing Price
$86.96
Day's Change
-1.34 (-1.52%)
Bid
--
Ask
--
B/A Size
--
Day's High
88.39
Day's Low
85.63
Volume
(Heavy Day)
Volume:
11,402,795

10-day average volume:
7,054,138
11,402,795

Cushing(R) Asset Management and Swank Capital Announce Constituent Changes to The Cushing(R) MLP High Income Index

9:02 am ET September 18, 2020 (PR Newswire) Print

Cushing(R) Asset Management, LP, and Swank Capital, LLC, announce two upcoming interim changes to constituents of The Cushing(R) MLP High Income Index (the "Index"), as follows:

On July 26, 2020, Index constituent CNX Midstream Partners LP (NYSE: CNXM) entered into an Agreement and Plan of Merger ("Merger Agreement") with CNX Resources Corporation (NYSE: CNX) and affiliated companies that would result in CNXM common units ceasing to be publicly traded, subject to the approval of the holders of CNXM common units and Class B units. Entities representing a majority of CNXM common units and Class B units have agreed to deliver written consents approving the Merger Agreement within the unitholder consent period, which may terminate as early as September 25, 2020. Per the Index's methodology guide, this event will result in a constituent replacement. Accordingly, after the market closes on September 25, 2020, and effective on September 28, 2020, Enviva Partners, LP (NYSE: EVA) will replace CNXM as a constituent of the Index at CNXM's then-current weight.

On July 13, 2020, Black Stone Minerals, L.P. (NYSE: BSM) was added as a constituent of the Index despite being ineligible for inclusion in the Index due to a distribution cut announcement made on February 5, 2020. After the market closes on September 25, 2020, and effective on September 28, 2020, Targa Resources Corp. (NYSE: TRGP) will replace BSM at BSM's then-current weight.

There will be no changes to the remaining constituents of the Index due to these events.

ABOUT THE CUSHING(R) MLP HIGH INCOME INDEX

The Cushing(R) MLP High Income Index provides a benchmark that is designed to track the performance of 30 higher-yielding publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). Constituents are chosen according to a three-tiered proprietary weighting system developed by Cushing(R) Asset Management, LP. The Cushing(R) MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".

ABOUT CUSHING(R) ASSET MANAGEMENT AND SWANK CAPITAL

Cushing(R) Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts, providing active management in markets where inefficiencies exist.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing(R) 30 MLP Index (Bloomberg Ticker: MLPX) and The Cushing(R) MLP Market Cap Index (Bloomberg Ticker: CMCI). For more information, please visit http://www.cushingasset.com/indices.

Contact:Jon Abel214-692-6334www.cushingasset.com

The Cushing(R) MLP High Income Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing(R) Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate the Index. S&P(R) is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones(R) is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing(R) Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones S&P nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

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View original content:http://www.prnewswire.com/news-releases/cushing-asset-management-and-swank-capital-announce-constituent-changes-to-the-cushing-mlp-high-income-index-301133802.html

SOURCE Cushing(R) Asset Management, LP and Swank Capital, LLC

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