Unusual Stock Activity on March 10, 2011: GMCR, SBUX, CHSI, PEET, NTAP, LSI.
Friday, March 11, 2022 8:00 AM

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Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) and Starbucks Corporation (Nasdaq: SBUX) saw unusually high trading volume on Thursday, after the company coffee brewer said, that it has agreed struck a deal with Starbucks to sell the latter’s coffee and Tazo tea in its Keurig’s K-cup portion packs. GMCR shares gained 41.41 percent to close at $61.71, with a total trading volume of 42 million shares, or eleven times its average trading volume. On the other hand, Starbucks’ shares gained 9.93 percent to close at $37.97, with trading volume of 36 million shares, up 5 times its average volume.

Catalyst Health Solutions Inc. (Nasdaq: CHSI) shares were traded heavily on Thursday, gaining 4.66 percent to close at $55.26, with a trading volume of 1.79 million shares, six times its average trading volume of 291,056 shares. The rise in the volume came after the company said, that it has agreed to buy the pharmacy benefits management business unit of Walgreens Co. (NYSE: WAG) for $525 million.

Peet’s Coffee & Tea Inc. (Nasdaq: PEET) shares tumbled to $42.53 losing 11.49 percent, after Starbucks Corporation (Nasdaq: SBUX) signed an agreement to offer single-cup coffee through Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) Keurig single-cup brewer. A total of 984.800 shares changed hands on Thursday, compared to its average trading volume of 159,332 shares.

NetApp Inc. (Nasdaq: NTAP) shares plunged to $48.41, down 6.07 percent, a day after the company announced it will buy the Engenio external storage systems business of LSI Corporation (NYSE: LSI). A total of 24 million shares changed hands on Thursday, compared to its average trading volume of 5 million shares. On the other hand, LSI gained 3.10 percent to $6.32, with a total trading volume of 22 million shares, compared to its average trading volume of 7 million shares.
 

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