Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) was soft for most of Thursday on fears that Starbucks Corporation (NASDAQ: SBUX) was going to develop the single-serve model beyond the deal that Green Mountain has with the company. The bad news came that Starbucks is going to start selling a single-cup coffee system of its own later in the year. The move certainly looks to be a move to expand beyond the Green Mountain partnership and it may put less emphasis on the existing deal which many have said is far better for Starbucks already.
Maybe in a round-about manner this makes Kraft Foods Inc. (NYSE: KFT) look a bit stronger after its coffee deal with Starbucks ended on less than good note. Maybe it is harder to partner and win with Starbucks than just signing paperwork.
Green Mountain shares closed down 2% at $62.40 but the after-hours session had shares down 14.5% at $53.32; Starbucks closed up 1.8% at $50.37 and its shares were up almost 3% more in the after-hours.
Maybe Starbucks can do a better job of selling this unit than that $1,000-plus espresso maker they had just sitting on the floor in the back of the store.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
