Keurig Green Mountain Slips on CFO Resignation and Weak Guidance

Shares of Keurig Green Mountain Inc (GMCR) tumbled after announcing the leave of its CFO and a weak current quarter guidance on Thursday, making it TheStreet's Move of the Day.
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Shares of Keurig Green Mountain Inc (GMCR) tumbled after announcing the leave of its CFO and a weak current quarter guidance on Thursday, making it TheStreet's Move of the Day. The company announced that its chief financial officer will step down sometime next year after 11 years. The coffee maker also posted current quarter guidance, lower than what analysts are expecting. The company said unfavorable weather patterns in South America pushed coffee prices to record highs this year. The K-cup maker has tried to expand beyond its core business of single-serve coffee packets, in an effort to stand out from its competitors. The stock fell despite the company reporting better-than-expected fourth quarter revenue and profit, helped by strong sales of its coffee portion packs. Shares of Keurig Green Mountain closed lower after 9.7 million shares traded hands.