Green Mountain Coffee Roasters (NASDAQ:GMCR) gained almost 10% as the company announced it had reached a deal with Starbucks (NASDAQ:SBUX) to sell Starbucks-branded Vue packs, to be used in GMCR’s upscale Keurig Vue brewer.
The news was a much-needed lift for Green Mountain, which has gained almost 25% year-to-date but was pounded hard earlier this month after Starbucks announced plans to make its own single-cup serving system — the Verismo — in direct competition with GMCR’s regular Keurig system. And the Verismo could end up being a threat to more than just Green Mountain — Swiss foodmaker Nestle (PINK:NSRGY), with its Nescafe line and single-serve coffee platforms, also could feel the pressure.
Watson Pharmaceuticals (NYSE:WPI) started to surge around noon after it was reported that the company was coming close to buying rival generic-drug maker Actavis. According to the report, people familiar with the talks said the deal — expected to be for about 4.5 billion euros — likely would happen after Easter.
By acquiring Actavis, Watson would get a company with 1.84 billion euros in 2011 sales and a strong foothold in Europe, according to the report. WPI shares finished up almost 9% by the close of Wednesday trading.
Hartford Financial (NYSE:HIG) jumped at the bell and eventually retreated to a 1.4% gain after the company said it would spin off its annuity business and work on selling off its other life insurance-related business. According to Reuters, HIG instead will focus on property insurance and group benefits.
Lastly, Zynga (NASDAQ:ZNGA) gained about 2.5% on Tuesday, though most of that was made before the late-afternoon report that the social gamemaker agreed to acquire OMGPOP, the creator of the hit app game Draw Something. (For more about the deal, check out our IPOPlaybook blog.)
- Meritor (NYSE:MTOR): Up 12.6% (94 cents) to $8.40.
- USG (NYSE:USG): Up 11% ($1.89) to $19.00.
- YPF (NYSE:YPF): Up 8.3% ($2.28) to $29.72.
- Assured Guaranty (NYSE:AGO): Down 13.4% ($2.52) to $16.30.
- Yingli Green Energy (NYSE:YGE): Down 9.8% (42 cents) to $3.85.
- Krispy Kreme Doughnuts (NYSE:KKD): Down 8.6% (73 cents) to $7.76.