Coffee stocks Coffee Holding Co., Inc. (JVA) and Starbucks Corporation (SBUX) are in the limelight today
Coffee stocks are grabbing headlines today. In particular,
Coffee Holding Co., Inc. (NASDAQ:JVA) is exploding higher on an upbeat earnings report, and
Starbucks Corporation (NASDAQ:SBUX) is fresh off inking a tea deal with Anheuser Busch Inbev SA (ADR) (NYSE:BUD). Below, we'll take a closer look at the news surrounding JVA and SBUX, and its impact on the charts.
As alluded to, JVA is trekking higher on a well-received earnings report. "We are again pleased to report positive results to our shareholders as we have now successfully achieved four consecutive profitable quarters," said CEO Andrew Gordon.
At last check, Coffee Holding Co., Inc. has surged to a 36% lead at $5.14. What's more, the coffee stock
hit an annual high of $6.15 earlier.
Shifting to its more high-profile sector peer, SBUX has entered into a partnership with BUD for the distribution of bottled Teavana teas. The news has shares of the java giant 0.3% higher at $54.77. Longer-term, however, the stock has struggled under the weight of its 20-day moving average, and is sitting on a year-to-date loss of 8.8%.
Yet, options traders have high hopes for SBUX. The coffee stock's 10-day call/put volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 3.16 -- in the 94th annual percentile.
Analysts are in Starbucks Corporation's bullish corner, as well. Of the 19 brokerage firms tracking the shares, 14 consider them worthy of a "buy" or better rating, with not a single "sell" opinion to be found.
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