Will Starbucks Announce an Acquisition After the Close?
UPDATE: Starbucks announced that it would acquire bakery La Boulange for $100M. Read about it here.
Earlier, Starbucks (NASDAQ: SBUX) announced that they would be making a special announcement at 4:30pm ET. According to the company, it would be on a new initiative to "further strengthen the company's core US retail business."
Shares of Green Mountain (NASDAQ: GMCR) saw some movement around the time of the announcement, but as the announcement concerns the retail business, neither Green Mountain nor K-cups may not be involved.
Benzinga contacted several Starbucks analysts on the matter. None were confident with what the announcement could be concerning, but Sharon Zackfia of William Blair believed that it might be regarding an acquisition.
Currently, shares of Starbucks are trading near $53.40, up just about 2.40% on the session. Green Mountain is up just about 3%. Traders may wish to keep their eyes on both stocks, as they could see volatility over the next hour.
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