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Starbucks changes iconic recipe, angering customers again  

September 10, 2026 MMN Editor Filed Under: Uncategorized

Over the last few years, Starbucks made several operational moves that frustrated its core customers. To cut operational delays and improve profit margins, the chain has repeatedly overhauled its offerings, pricing, and rewards program. 

About three years ago, Starbucks increased the number of loyalty “stars” required to redeem free drinks, food, and merchandise, and it also angered iced-drink fans by introducing a mandatory $1 charge for customers who ordered Refreshers with “no water,” according to Entrepreneur.

In 2023 and 2024, Starbucks spent heavily to promote olive-oil-infused coffee, a pet project of former CEO Howard Schultz. The drinks sparked viral mockery and widespread complaints about stomach issues before the company finally abandoned the lineup in late 2024 to simplify its menu, reported CNN. 

Earlier this year, Starbucks made major menu cuts, under CEO Brian Niccol’s “Back to Starbucks” turnaround strategy, slashing its menu by 25% to 30%. The chain cut 13 drinks to reduce waste and speed up drink preparation for baristas, reported TheStreet. 

Now, the chain’s latest menu change has once again frustrated some of its loyal customers, and they are calling headquarters to complain. 

Starbucks reinvents iconic chai recipe 

In March 2026, Starbucks revealed a change to its chai latte recipe, saying it was “reinventing an icon.”

The chain said the overhaul will make it a less sweet chai base to allow customers to customize the beverage to their own preference. 

“The updated chai recipe allows spices like cardamom, cinnamon and ginger to take center stage while giving customers more control over their preferred sweetness level by adjusting the number of pumps. Or they can adjust the flavor by swapping classic syrup for a flavored one. Vanilla, for example, will dial up the spicy notes. The beverage is also delicious unsweetened,” Starbuck stated. 

The change, however, didn’t sit well with some customers. 

Starbucks tweaked its iconic chai recipe, angering some customers.NicolasMcComber / Getty Images

Starbucks’ chai change angers some customers 

A number of customers took to social media, or called corporate and signed petitions to reverse what they are calling the “Great Chai Incident of 2026,” highlighted The Wall Street Journal. 

Ricki Fairley, a 70-year-old customer, sent a formal complaint to Starbucks’ CEO demanding that the company “turn this unnecessary mess around.” 

Another loyal customer, Adam Benson, mourned the loss of his usual order, stating, “I had found my drink, my happy place. Now it’s been taken away.”

Desperate fans have even started swapping recipes on platforms like Reddit to figure out how to replicate the original taste. Baristas are doing their best to help, but finding the exact match is proving difficult. One Reddit user shared their best workaround, posting, “The closest I’ve been able to get to bringing its sparkle back has been no classic, half vanilla, half cinnamon dolce.”

Facing backlash, Starbucks tweaked the recipe again about a month later, removing water from the hot chai to make it creamier and spicier. Still, for many loyal tea drinkers, the magic is gone, and they have resorted to making it at home. 

A number of customers suspect the change aimed only to reduce costs, since adding flavors such as vanilla or brown sugar costs an extra 80 cents. 

“They may have cut costs but they’ve lost me as a customer. For the past 20 years I’ve gotten a Starbucks chai almost every single day, and I’ve been back 3 times now since March,” wrote one Reddit user. 

Not everyone is displeased with the change, however. 

Some customers actually like the new chai better 

In matters of taste, there can be no disputes, the old saying goes, and it holds true in this case. 

In another Reddit thread (though one that got significantly fewer reactions), a few customers shared that they prefer the new chai. 

“All the customers I’ve talked to today love the change,” the Reddit user who started the thread shared. 

Related: 29-year-old casual dining chain closes 4 locations after acquisition

What’s particularly interesting is the comment posted by a user identifying as a Starbucks barista who said that what seems to be happening is that customers who didn’t like the chai before now think it’s good, while those who liked it previously don’t like it now. 

The user added that there’s “definitely a higher percentage of people that dislike it.” 

It appears that this latest Starbucks change has managed to gain some new chai fans, but at the same time, it has lost a number of old ones.

Why product changes trigger deep customer anger

When an iconic brand changes a popular product, it can disrupt a daily emotional ritual, and the effect on customers can be overwhelming. Market research shows that consumers don’t buy a beverage just for its ingredients. They buy it for psychological comfort and predictability. 

When that changes without warning, customers may register it as a betrayal.

“Brands are key in building customer-brand relationships, yet organisations change their product lines by reformulating or discontinuing brands. This results in negative customer emotions, including pain and grief,” according to a study on product changes published in the Journal of Business Research. 

In 1985, Coca-Cola discontinued its original formula and introduced a sweeter “New Coke” after blind taste tests showed consumers preferred the new flavor over both the original recipe and Pepsi. 

However, the company drastically underestimated the emotional attachment its loyal customers had to the classic beverage. Following severe public backlash, Coca-Cola brought back the original formula just 79 days later, according to History.com.

Coca-Cola went back to its original recipe to retain its customers. Whether Starbucks follows suit may depend on how much the chai backlash ends up hurting its bottom line. 

Related: Fast-food chain quietly exits an entire state after 50 years

Why Leading With Value Is the Best Marketing Strategy in 2026

September 10, 2026 MMN Editor Filed Under: Uncategorized

Scrap your “AI Personalization” playbook. I’m going to show you how to get personal and build genuine relationships with potential clients.

Pretty Doesn’t Pay. Here’s How to Build a Website That Actually Converts.

September 10, 2026 MMN Editor Filed Under: Uncategorized

If you want website visitors to actually buy from you, build a site that engages them on all fronts — both online and off.

This simple mistake can give your money to the wrong person when you die. Here’s how to protect your estate.

September 10, 2026 MMN Editor Filed Under: Uncategorized

Estate-planning crises usually come down to small oversights.

Novartis stock in hot water after another key failure

September 10, 2026 MMN Editor Filed Under: Uncategorized

Novartis (NVS) had a disappointing Tuesday, Sept. 8. Shares dropped nearly 14% on one of the company’s worst trading days on record.

The sell-off followed news that a closely watched experimental drug failed its main goal in a late-stage trial. The timing was bad, since the company was already dealing with a trial failure from days earlier.

Novartis is one of the largest drugmakers in the world. It develops and sells prescription medicines across cancer, heart disease, immunology, and neuroscience.

Because the company earns most of its money from a handful of popular branded drugs, its business model depends heavily on new drugs reaching the market. So when a major drug trial fails, investors pay attention.

Why the del-desiran trial failure hit Novartis stock so hard

The drug in question is del-desiran, an experimental treatment for myotonic dystrophy type 1 (DM1).

DM1 is a genetic disease that causes progressive muscle stiffness and weakness. There are no approved treatments for it.

Novartis said its Phase III HARBOR study found no real improvement over patients who got no active treatment. 

The trial’s primary test was on video hand opening time, which tracks how well patients can relax their hand muscles.

More Pharma Stocks:

Eli Lilly raises the stakes in $2.88 billion autoimmune buyout

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BofA biotech scorecard: two buys and odd one out

Del-desiran was the main asset from the company’s roughly $12 billion purchase deal with Avidity Biosciences completed in February 2026, according to Novartis. 

The drug had won FDA Fast Track and Breakthrough Therapy status, so hopes for approval ran high.

Although the primary test failed, Novartis noted some encouraging signs in secondary measures, along with a clean safety record. 

The company plans to review the full data before it decides what comes next.

Novartis shares fell nearly 14% on Sept. 8, 2026, after a second late-stage drug trial failure in days.SOPA Images / Getty Images

A rough stretch for the Novartis pipeline

This was the second late-stage failure in a matter of days.

Just before it, Novartis’s heart drug Pelacarsen failed to reduce the risk of major cardiac events in a large trial, Bloomberg reported. 

Analysts had estimated peak sales of roughly $4 billion to $6 billion for that drug, which the company developed with Ionis Pharmaceuticals.

Related: Morgan Stanley uncovers major Bristol Myers stock signals

Novartis also recently paused several trials in its experimental CAR-T cancer therapy program after patient deaths. 

Three setbacks in quick succession is a lot for any drugmaker to absorb, and shareholders are recalculating what the pipeline is really worth.

What Novartis investors should weigh now

Analysts at Jefferies and Barclays are openly questioning whether Novartis can hit its target of 5% to 6% annual sales growth through 2030, Reuters reported.

That target looks harder to reach with key patents expiring soon. The company’s top-selling heart drug, Entresto, has already begun to lose exclusivity, and more blockbuster drugs are set to follow.

Here is what shareholders should keep in mind.

Key risks and takeaways for Novartis stock

More deals may be coming. Because internal research has stalled, Novartis may likely buy more biotech firms at high prices to refill its pipeline, which can dilute existing shareholders.

The premium is fading. Investors treated Novartis as a stable giant, and that reputation is now being repriced lower.

The dividend is still solid. The stock offers a yield of about 3.4%, which is a cushion for patient holders.

Volatility is real. Big pharma stocks can swing hard around trial results, so position sizing matters.

Novartis remains profitable and pays a healthy dividend.

But the steady reputation that justified its premium price is under pressure, and rebuilding trust in the pipeline will take time and probably more expensive acquisitions.

For now, cautious investors may want to watch how the company’s management handles the full del-desiran data before they make any big moves.

Related: Novo Nordisk CEO resets expectations for Wegovy’s explosive growth

Would you buy stock in a company whose own scientists think the product might kill you?

September 10, 2026 MMN Editor Filed Under: Uncategorized

A former Anthropic employee said he was quitting this week and that AI companies are “gambling with our lives.”

UBS sets $730 target on a stock it just stopped doubting

September 10, 2026 MMN Editor Filed Under: Uncategorized

Wall Street analysts almost never announce that they were wrong. They reprice instead.

That habit is worth keeping in mind whenever a bank moves a stock two full rating notches before the opening bell, because the useful information is usually buried underneath the rating, not in it.

Consider the corner of the market that has spent three years absorbing punishment for a sin it stopped committing a while ago.

Life sciences tools companies sell the instruments, reagents, and outsourced lab services that drug developers can’t operate without. They boomed through the Covid pandemic, then fell hard when biotech funding dried up, academic budgets froze, and Chinese demand went quiet.

Earnings, though, never actually broke. They just stopped getting paid for. Revenue continued compounding, margins kept widening, and the multiple kept shrinking anyway.

That gap between profits and price is the setup behind one of the more aggressive analyst calls of the week, and behind a price target that landed a long way from where the rest of the Street is standing.

Thermo Fisher Scientific (TMO), the largest company in the group, was upgraded to Buy from Neutral at UBS on Sept. 9, and the firm boosted its price target on the shares to $730 from $540, according to 24/7 Wall St.

That is roughly $190 added to a number the firm had been sitting on. Banks do not usually move that far in one motion, and the reason this one did has almost nothing to do with the last earnings report.

Why life sciences tools stocks stopped working

Thermo Fisher’s earnings per share has grown about 7% a year over the past three years while the share price has gone essentially nowhere, according to Simply Wall St. That is a de-rating, not a deterioration.

The cause, when I went back through the demand picture, was that every customer group went cold at once.

Pharma and biotech, which account for roughly 60% of Thermo Fisher’s revenue, cut discretionary spending. Academic and government labs sat on frozen budgets. China, once the group’s growth engine, contracted for several straight quarters.

Related: UBS revamps S&P 500 target for rest of 2026

Instrument purchases are the first line item a lab defers and the last one it restores. That turned a health care name into something that trades like an early-cycle industrial, which is exactly what happened to the multiple.

The wider market spent the same stretch paying up for anything with an artificial intelligence (AI) attachment, a rotation that left slower compounders stranded. 

UBS upgraded Thermo Fisher Scientific to Buy and lifted its TMO price target to $730 from $540.Boston Globe / Getty Images

What UBS actually changed on Thermo Fisher

The upgrade did not come out of the second-quarter print. It came out of the 2027 model.

Thermo Fisher is positioned for “a durable return to 5%-6%-plus organic growth in 2027,” the firm told investors in a research note, reported TheFly.

More Wall Street:

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Bank of America’s unique take on Apple stock as Ternus takes reins

Alongside that growth call, UBS projects operating margin expansion of at least 50 to 70 basis points and double-digit earnings per share growth, according to Investing.com.

The drivers it lists are better pharma and biotech funding, reshoring investment, sustained bioprocessing demand, AI-driven gains in research and development returns, market share gains, and stabilization in China and in academic and government spending.

Here is where the number sits relative to everyone else’s:

UBS raised its target to $730 from $540 while moving to Buy from Neutral, according to 24/7 Wall St.

CLSA analyst Michael Luo started coverage at Outperform with a $748 target on Sept. 3, above the UBS number, according to StockAnalysis.

The average 12-month target across the 29 analysts covering the stock is about $638, according to StockAnalysis.

When I lined the $730 up against that $638 average, the spread was the tell. UBS is not nudging a model. It is sitting roughly 14% above where the rest of the Street has settled, and it got there in one jump rather than through the usual quarterly drift.

The analyst handoff hiding inside the upgrade

Most of the coverage treated this as a bank changing its mind. That is not quite what happened.

The rating change arrived as UBS assumed coverage of the stock with a new analyst, according to Investing.com.

That distinction matters more than it sounds. A coverage transfer means the person who defended the Neutral rating is no longer the person writing the note. Incoming analysts routinely reset a predecessor’s stance in their first publication, and those resets tend to be large precisely because they are catching up all at once, instead of adjusting a quarter at a time.

My read is that UBS is not calling a bottom in laboratory demand. It is calling the end of a de-rating, and it is doing it through a fresh set of eyes. Anyone treating this as a firm publicly reversing itself is reading the wrong signal.

What a 2027 growth reset would mean for the stock

The recovery evidence is already on the tape, which is part of why the target moved so far.

Second-quarter revenue grew 10% to $11.99 billion, including 5% organic growth. Adjusted operating margin expanded 90 basis points to 22.8%, and adjusted earnings per share rose 13% to $6.03, according to the company’s second-quarter results. Chairman and CEO Marc Casper cited “outstanding performance in the second quarter” in that release.

Full-year guidance went to $47.4 billion to $48.1 billion in revenue, with adjusted earnings per share of $24.93 to $25.33.

The detail that should interest anyone modeling 2027 is geographic. China grew in the low single digits for the first time in several quarters, and academic and government spending returned to growth, reported GenomeWeb. Management stopped short of calling the academic recovery durable.

Two things have to hold for the UBS math to work:

Pharma and biotech budgets need to keep loosening into next year.

That academic thaw must prove structural rather than seasonal.

For a reader with a retirement account rather than a trading screen, the practical version is simpler. This is the kind of position that quietly underperformed for three years while its profits did not, and a growth reset in 2027 would close that gap without management doing anything heroic.

Shares traded near $606 on Sept. 9, putting the UBS target about 20% above the market. None of the 2027 thesis becomes testable until well into next year, which makes the next four quarters a referendum on whether the funding thaw is real.

That, not the target, is the number worth watching.

Related: UBS sends investors strong message about the economy

Jensen Huang just answered Michael Burry’s Nvidia bear case

September 10, 2026 MMN Editor Filed Under: Uncategorized

Nvidia CEO Jensen Huang posted GPU rental data on X on X (the former Twitter) on Sept. 8 and tagged it directly at investors who think the AI chip boom is built on shaky accounting.

Short seller Jim Chanos saw it and fired back within hours.

The post touched on one of the most-watched debates in AI investing right now. Michael Burry has a short position in Nvidia. He thinks the companies buying Nvidia chips are booking profits they have not actually earned.

Huang’s Sept. 8 post was the latest round of his pushback against that view.

Burry doubts profits of companies buying Nvidia chips: why it matters

Burry called the 2008 housing crash. He disclosed a Nvidia short through Scion Asset Management earlier this year. His argument is that cloud companies are writing Nvidia GPUs off too slowly on their books, which inflates their annual profits, according to CNBC.

Google, Microsoft, and Oracle all estimate that their AI chips last about six years. Burry said two to three years is closer to the truth, given how quickly Nvidia ships new architectures. He estimated the cloud providers are understating their depreciation costs by around $176 billion between 2026 and 2028, Benzinga reported.

More Nvidia:

Nvidia just made a move Wall Street wasn’t ready for

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Meta put some real numbers on this in early 2025. The company said extending the useful life of certain servers to 5.5 years cut its depreciation expense by about $2.9 billion that year.

Burry said Google, Microsoft, and Oracle are doing the same kind of accounting across far larger GPU fleets. He has been making this case publicly since late 2025. His firm has not given a public interview explaining the trade.

The depreciation argument is the clearest version of the Nvidia short that has surfaced from Burry’s filings and social media posts.

Huang posted rental prices for Nvidia chips: how Chanos responded

Huang shared a post from financial market platform Ornn Exchange on Sept. 8. Ornn reported that rental prices for Nvidia H100 chips jumped 22% in one month to $3.28 per hour. The H100 launched in 2022, so it’s three years old and more expensive to rent now than it was last month.

In an Aug. 13 post on X, Huang highlighted that CoreWeave signed a contract to rent Nvidia A100 GPUs through 2029. The A100 launched in May 2020. That is nine years of useful life on a chip that Burry’s model said should be economically done.

CoreWeave went public earlier this year. It has contracts covering nearly triple the GPU capacity it currently has online. Signing a nine-year deal on six-year-old hardware is the kind of data point Huang wanted investors to see.

“The mighty A100 fleet are mission-capable from 2020 through 2029,” Huang said in the Aug. 13 post. “NVIDIA compute is fungible, durable, and highly rentable. It is a productive, revenue-generating asset.”

Chanos replied to Huang’s Sept. 8 post. “Then why not rent them out yourself? Or simply keep raising prices?” Chanos wrote.

He later said his point was aimed at companies buying Nvidia chips to rent them out, not Nvidia itself. Chanos is short on data-center and neocloud companies. He has called the GPU rental business a commodity.

Michael Burry called the 2008 housing crash. He disclosed a Nvidia short through Scion Asset Management earlier this year.Bloomberg / Getty Images

What the GPU market data show

CoreWeave CEO Mike Intrator spoke about chip pricing on the company’s second-quarter earnings call. A batch of H100 GPUs that came off an expired contract was immediately rebooked at 95% of the original price.

“All of the data points that I’m getting are telling me that the infrastructure retains value,” Intrator told CNBC.

Silicon Data, which tracks GPU residual values, put the resale value of six-year-old A100 chips at around $5,000 as of September, Benzinga reported. The firm also said A100 pricing stopped falling in late 2025. H100 and B200 chips have more value in 2026 as rental rates have risen.

Chanos has previously warned of what he called a “depreciation time bomb” at companies such as CoreWeave and Oracle. He has argued that chips can become economically obsolete within three to four years, even while still running, according to Benzinga.

Where this stands right now

Burry is still short Nvidia. Chanos is still short neocloud and data center stocks. Huang is still posting chip rental data on X.

A100 chips from 2020 are renting through 2029. H100 chips from 2022 are up 22% in rental price in a month. Rebooked H100 contracts are coming in at 95% of the original rate.

Nvidia shares have pulled back from their 2024 highs but remain one of the most widely held stocks among institutional investors. The company has been backing large AI infrastructure deals and positioned its GPUs as long-lived financial assets, not just chips.

That framing is exactly what Burry and Chanos are pushing back against.

Burry was years early on the housing crash. He was right about the structure of that problem but wrong on the timing for a long time. He could be in the same position here.

Nvidia has not addressed his depreciation argument in detail beyond Huang’s X posts. The monthly GPU rental numbers are the closest thing to a live scorecard on this debate.

CoreWeave’s next earnings call and Nvidia’s own quarterly results will add more data points to a trade that both sides are watching closely.

Related: Jim Cramer has strong message for Nvidia, Broadcom investors

How Excellent Costumes Ground Alternate Realities In ‘Stuart Fails To Save The Universe’

September 10, 2026 MMN Editor Filed Under: Uncategorized

For the latest spin-off of ‘The Big Bang Theory’, great costumes make a multiverse believable as familiar characters are revisited and explored in innovative ways.

Packers’ Offensive Line Faces Huge Challenge Vs. Flores, Vikings

September 10, 2026 MMN Editor Filed Under: Uncategorized

The Green Bay Packers figure to have their hands full against Minnesota’s defense and coordinator Brian Flores on Sunday.

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