The company saw its stock take a 3.5% hit earlier this week after the Wall Street Journal reported that the SEC is looking at how the company is recognizing revenue. Specifically, the SEC was reported to have concerns about how the company treated its gift card revenue as well as an upfront payment of $7B from Nestle last year.  Subsequently, the company claimed there was no inquiry and only that letters back and forth with the SEC dealt with clarifications of how new revenue-recognition accounting standards would be applied. Starbucks said the exchange was “customary” and noted that it was not required to restate any prior financials.