(Starbucks-Green Mountain partnership report updated with news of Starbucks agreement with Courtesy Products.)
SEATTLE ( TheStreet) -- Starbucks (SBUX - Get Report) may soon be partnering with Green Mountain Coffee Roasters (GMCR) as it looks to enter the single-cup coffee market now that its 12-year arrangement with Kraft Foods (KFT) is coming to an end.
Amid all the speculation, Green Mountain shares surged 6.6% on Monday, but were 4% lower in at midday Tuesday, trading around $44.51. Starbucks shares, meanwhile, closed higher by 0.7% on Monday and were half a point lower on Tuesday at $33.39. Starbucks on Tuesday announced it reached a distribution agreement with Courtesy Products, a privately held provider of in-room coffee service to hotels across the U.S. The Seattle-based coffee shop behemoth already sells individual instant coffee packets under its Via brand, but speculation among analysts has mounted that Starbucks is poised to push more aggressively into the single-cup brewing market now dominated by