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Nasdaq Attaq: Green Mountain Coffee Roasters Makes A Comeback


Profit is up 30% for Green Mountain, but can the company keep it up after K-Cups are off-patent?

MINYANVILLE ORIGINAL The Nasdaq Composite (^IXIC) went from declines to gains and back again today as markets deal with the fallout from yesterday's algorithm breakdown that resulted in $5 billion in incorrect trades.

The index fell 0.77% this morning to 2,897.74. The value of the Nasdaq gained 11.25% since the beginning of the year, and 9% over one year ago.

By far the biggest gain today came from Green Mountain Coffee Roasters (GMCR), which reported far better profit than Wall Street expected. Profit for the third fiscal quarter was up 30%, but margins were lower. The company is contending with mounting competition from Nestle (NSRGF) and Starbucks (SBUX) as its signature Keurig brewing systems go off-patent, robbing the company of royalty revenue for K-Cups. Shares of Green Mountain are up 32.88%, but this might be a good time to revisit David Einhorn's devastating presentation on the Vermont company.

United Online (UNTD) gained 25.71% to $5.28 today after the company's board approved a plan to spin off its FTD online flower delivery company.

First Solar (FSLR) shares are up 27.1% as the company announced an 82% rise in profit, beating analyst estimates. First Solar also said that it will boost production despite the glut of solar panel supplies and raised its full-year earnings guidance.

Today's biggest loser in the Nasdaq is Halozyme Therapeutics (HALO), which is down 51.17% after the US Food and Drug Administration rejected an immune deficiency treatment that it developed with Baxter International (BAX). The FDA said that it wants to see more preclinical data for the product.

Twitter: @vincent_trivett
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