Despite lingering doubts about whether or not the a debt deal can be reached before the August 2nd deadline the markets are posting slight rebounds today. The Dow has posted a gain this morning of 39 points. The Nasdaq has seen gains of over 27 points a 1% rise. The S&P 500 has gained 7 points this morning as well. Today’s rise comes on news that new unemployment applications fell below 400,000 for the first time in four months. That leads economist to believe that employers are laying off fewer workers and could be a sign that the job market is reaching a stabilizing point. While the rebound in today’s markets is only a slight one, lets look at a few companies are posting strong gains amid this weeks market turmoil.
Green Mountain Coffee Roasters, Inc (Nasdaq:GMCR) shares are up 19% to 105.01 per share. Volume is trading three times the normal daily volume on news that GMCR beat Wall Street’s estimates for its most recent quarter. Net income rose from $18.6 million during last years third quarter to $56.3 million during this years third quarter a jump of over 200%. Green Mountain Coffee reported an adjusted income of $.49 per share that means they beat analyst estimates by $.36 per share and investors have responded today. the company has now beat analyst estimates for each quarter over the last year.
Coffee Holding Co, Inc (Nasdaq:JVA) share have climbed this morning 23% to $21.13 with an intraday high $21.75. Volume is slightly above normal today and it appears that JVA is riding a wave of enthusiasm that has swamped coffee distributor Green Mountain Coffee Roasters. While shares are on the move many investors feel that the strong quarter from GMCR will help help JVA’s growth and revenue as they are a supplier for Green Mountain Coffee Roasters.
LSI Corporation, (NYSE:LSI) share are the move today and have risen 14.5% to $7.38 per share today with an intraday high of $7.55. Volume has nearly tripled as LSI’s second quarter beat Wall Street expectations. LSI’s net income increased to $293.8 million compared to $7.4 million during the same quarter last year. The overall adjusted income exceeded analyst expectations by 3 cents.