Green Mountain (GMCR), Starbucks (SBUX) Shares Soar on K-Cup Deal

Shares of Green Mountain (NASDAQ:GMCR) and Starbucks (NASDAQ:SBUX) are surging today on news the two companies consummated their deal to offer Starbucks coffee and its Tazo tea in Keurig’s K-Cup portion packs.

Starbucks rival Peet’s Coffee & Tea (NASDAQ:PEET), on the other hand, was getting crushed, as realization there was very little likelihood the company will be able to make a K-Cup deal with Green Mountain.

The deal was partially pursued on the part of Starbucks in order to expand its reach in the fast-growing single-cup coffee market and increase distribution.

Peet's was trading at $42.67, down $5.38, or 11.20 percent, as of 12:41 PM EST. Starbucks was trading at $37.60, gaining $3.06, or 8.86 percent. Green Mountain was at $60.50, soaring $16.86, or 38.63 percent.