Shares of Coffee Holding Company (JVA) are surging 33 percent after the coffee wholesaler announced that its fiscal second-quarter earnings jumped 7 cents a share from a year ago to 22 cents a share, and that revenue climbed 87 percent to $37.3 million, according to a Barron’s report.
“We are pleased to report another strong quarter to our shareholders. Our revenue growth continues to drive our bottom line as our business has been strong in all areas during this period. Our price increases helped us keep pace with the rising price of green coffee, improving our margins on both our private label and branded businesses,” Coffee Holding said in a statement.
Shares of Starbucks (SBUX), the world’s largest coffeehouse operator, meanwhile, are slightly down, despite last week’s news regarding the company’s expansion efforts in China, where there are now 450 Starbucks stores.
In other coffee stock news, Farmer Bros (FARM) and Peet’s Coffee & Tea (PEET), are both up 1 percent, Caribou Coffee Company (CBOU) is up 3 percent, and Green Mountain Coffee Roaster (GMCR) is fractionally lower.
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