Vitamin
boost for Green Mountain drink
Shares of Green Mountain Coffee Roasters
Inc.(NASDAQ:GMCR) rose 11.55 percent in late morning trade on an announcement that
the company is introducing a line of drinks named “Wellness Brewed” for its
Kicureg single serve coffee system. There have been concerns that competition
from low-cost rivals could adversely affect the company’s business.
It sells six varieties of drink with added health-boosting
ingredients such as antioxidant vitamins.
Its flagship Green Mountain coffee, Celestial Seasonings teas and
Vitamin Burst fruit drinks are all thus fortified.
Has
GMCR Found The Bottom And Ready To Move Higher? Find Out Here
While Green Mountain has made its mark in the
nascent U.S. single serve market, competitors may soon offer similar products
at lower prices as two of the company’s ‘K-Cups’ design patents are due to
expire this month.
Fund
manager’s stake hike sends Biofuel Energy stock flying
Meanwhile, a regulatory filing report that hedge
fund manager David Einhorn has hiked his stake in BioFuel Energy
Corp.(NASDAQ:BIOF)has resulted in a 28 percent spike in the company’s share
price. As of June 30, Einhorn’s stake in
the ethanol maker was 25.5 per cent. He
now holds 36.2 percent.
The $19 million company has had a bad year so
far. A severe drought has shrunk
supplies and raised corn prices, thereby contracting margins of several ethanol
producers. Not only that, this has also
sparked a food vs. fuel argument. Food
and livestock producers want the government to abandon the policy of converting
more than one third of the U.S. corn crop to ethanol, at least temporarily.
Biofuel’s shares are among the top gainers with a
gain of 53% to $4.60.
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