NEW YORK (TheStreet) -- Shares of Nestle (NSRGY) are up 0.61% to $78.14 after it was reported that the company plans to make Coffee-Mate branded capsules compatible with Keurig Green Mountain Inc. (GMCR - Get Report) machines in the U.S., bringing the world's biggest coffee maker onto a rival's system, Bloomberg reports.
The two companies will begin selling the capsules, known as K-Cups, in the U.S. this fall, they said in a Business Wire statement today.
Shares of Keurig Green Mountain are higher by 2.12% to $127.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts