Sector Reacts to Starbucks' (SBUX) Bakery Acquisition: GMCR, CBOU Trade Lower, BAGL, DNKN Rise
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Shares of Green Mountain (Nasdaq: GMCR) are down almost 2.5 percent in Monday's after-hours session following news Starbucks (Nasdaq: SBUX) has announced an agreement to acquire Bay Bread LLC for $100 million. Bay Bread controls the La Boulange bakery brand.
After closing at $23.48, Green Mountain shares are trading down to $22.95 in the post-market session.
Elsewhere in the sector, shares of Caribou (Nasdaq: CBOU) are trading about 2 percent lower after closing the session up nearly 4 percent and Krispy Kreme (NYSE: KKD) shares are down about 0.8 percent. Einstein Noah Restaurant Group (Nasdaq: BAGL) and Dunkin' Brands (Nasdaq: DNKN) shares are up following the news.
After closing at $23.48, Green Mountain shares are trading down to $22.95 in the post-market session.
Elsewhere in the sector, shares of Caribou (Nasdaq: CBOU) are trading about 2 percent lower after closing the session up nearly 4 percent and Krispy Kreme (NYSE: KKD) shares are down about 0.8 percent. Einstein Noah Restaurant Group (Nasdaq: BAGL) and Dunkin' Brands (Nasdaq: DNKN) shares are up following the news.
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