Coffee Stock Action Heats Up for Earnings Season

• By the tickerspy.com Staff
• On 10:00 am EDT, Wednesday October 28, 2009

After reporting Q3 earnings, Peet's Coffee & Tea (NASDAQ: PEET - News) will be the third coffee stock to climb out of the red this month.

Peet's reported third-quarter net income of $2.5 million or 19 cents a share after the bell yesterday. EPS was 27% better than last the same period last year and net revenue increased by 8% to $73.9 million. Analysts were expecting 16 cents a share. Peet's also guided higher, offering expectations of $1.04 to $1.06 in full-year EPS in 2009, and $1.24 and $1.30 in 2010. President and CEO Patrick O'Dea said, "I'm very pleased with our performance," and highlighted the company's focus on growth initiatives moving forward.

Peet's is up by 12% today, dragging it out of negative territory on a one-month basis. Prior to today's session gourmet coffee house chain Caribou Coffee (NASDAQ: CBOU - News) and volatile K-Cup maker Diedrich Coffee (NASDAQ: DDRX - News) were the only winners for the period, up by 10% and 42% respectively.

As a whole, the Coffee Stocks Index is largely negative over the last week, with six of seven components in the red for the period. Javo Beverage (OTC: JAVO - News) and Starbucks (NASDAQ: SBUX - News) both gave up more than -6% in the last five sessions. The latter will report its earnings on November 5.

Coffee investors should mark their calendar for Green Mountain Coffee Roasters' (NASDAQ: GMCR - News) earnings report on November 11. The stock has pulled back in the last week, dropping by another -2% in today's session. Green Mountain's K-Cup single serving coffee packs and Keurig roasters have been a hit with consumers.

Wholesaler Farmer Brothers (NASDAQ: FARM - News) wraps up the Coffee Stocks Index with a fractional gain on the day.

Largely due to the continued run by Diedrich Coffee, the Coffee Stocks Index is the runner up in tickerspy's one-month performance rankings, up by 17%.

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Buzz up!