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Caribou Coffee: 52-Week Highs

MINNEAPOLIS, Minn. ( TheStreet) -- Caribou Coffee (CBOU) was one of just four stocks to reach a 52-week high amid Monday's market selloff.

The major stock indexes tumbled more than 5% Monday following an unprecedented downgrade to the U.S. government's AAA credit rating by Standard & Poor's on Friday.

Caribou Coffee was no exception; the small-cap coffee shop chain's stock shed 8% to $14.24 in afternoon trading, but not before it rose to a 52-week high of $16 in morning trading.

The only other stocks to hit 52-week highs on Monday were capital goods maker Argan (AGX - Get Report), authentication provider Collectors Universe (CLCT - Get Report) and National Research (NRCI), a surveyor of business performance for the healthcare industry.

Caribou posted an 83.3% jump in second-quarter earnings last week as revenue grew by 16.5%, and the company raised its full-year outlook.

The introduction of breakfast sandwiches to its menu helped drive quarterly results.

Caribou also announced a partnership with Crossmark, a sales and marketing services company, to help it expand its packaged coffee business and better compete with coffee giants like Starbucks (SBUX - Get Report), Green Mountain Coffee Roasters (GMCR) and Dunkin' Donuts (DNKN - Get Report).

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

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GMCR $91.67 -0.30%
AGX $34.44 0.00%
CLCT $17.54 -0.06%
DNKN $47.47 0.00%
SBUX $56.42 0.00%


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