(GMCR story updated with analyst commentary and share price changes)
NEW YORK ( TheStreet) -- Green Mountain Coffee Roasters' (GMCR - Get Report) shares remain in negative territory after plunging after hours in reaction to the lowering of the company's 2011 earnings outlook.
Shares of the maker of K-Cups and Keurig coffee brewers are down 11.3% to $33.19 in late morning trading.In Thursday afterhours trading, GMCR dropped 13.7% to $32.30 after the company said it was widening the lower end of its fiscal 2011 non-GAAP earnings outlook to a range of $1.19 to $1.29 a share vs. the prior outlook of $1.24 to $1.29, to factor in volatility in coffee prices and the support needed for the launch of new products. "The hit was pretty much immediate on release, leaving prices consolidating at or near the initial reaction lows," BGC Financial director Roger Volz said. He'll observing the stock will particular interest if it makes another descent and falls into the $29.90 to $30.50 territory. "Another break below