Keurig to cut workforce after weak quarterly results

In early trading on Thursday, shares of Netflix (NFLX) topped the list of the day’s best performing components of the Nasdaq 100 index, trading up 3.5%. The heightened volatility saw the trading volume jump to 1,792,653 shares. The firm has a market capitalization of $8.16 billion and a price-to-earnings ratio of 14.75. Keurig’s stock price has fallen more than 43% year-to-date.

In another analyst note, Keurig Green Mountain had its ratings cut to HOLD from BUY by analysts at Canaccord Genuity. The coffee company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01.

The company also authorized the additional repurchase of up to $1 billion in shares over the next two years. But some customers are unhappy with the company’s current offerings.

The analysts wrote, “difficult to defend”, the analyst believes that an inflection point appears to be further delayed. Additionally, Discovery’s recent deal with Comcast (CMCSA) to carry 12 of its networks is expected to boost revenue.

Announced as part of a multi-year productivity program, the cuts are likely to affect 330 employees, even as the company plans to save $100m a year, beginning 2016. (GMCR): On Tuesday heightened volatility was witnessed in Keurig Green Mountain, Inc. Similarly, the firm also lifted Discovery Communications’ rating to BUY from HOLD. (GMCR) at $111.42. The standard deviation of short term price target has been estimated at $32.29, implying that the actual price may fluctuate with this value.

Keurig Green Mountain Inc. announced that it expects to reduce its workforce by about 5 percent as the company grapples with declining sales of its brewers and single-serve coffee pods. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Pivotal Research Group upgraded CBS to BUY from HOLD. They noted that the move was a valuation call.