Starbucks (SBUX) Gives Green Mountain (GMCR) A Little Kiss, After Betrayal
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Green Mountain Coffee (Nasdaq: GMCR) is a little higher early Wednesday following reassuring comments from partner Starbucks (Nasdaq: SBUX), which stuck a knife in their back last week with the introduction of its single-serve system, Verismo.
At a UBS conference, Starbucks CFO Troy Alstead said the relationship with Green Mountain is strong and they don't see this changing as Green Mountain has the leading installed base in the single serve market.
Shares of Green Mountain fell nearly 19 percent Friday after Starbucks announced its Verismo plans. Shares have yet to regain traction. This morning the stock is trading at $51.77, up 0.8%.
At a UBS conference, Starbucks CFO Troy Alstead said the relationship with Green Mountain is strong and they don't see this changing as Green Mountain has the leading installed base in the single serve market.
Shares of Green Mountain fell nearly 19 percent Friday after Starbucks announced its Verismo plans. Shares have yet to regain traction. This morning the stock is trading at $51.77, up 0.8%.
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