Peet's Coffee & Tea (PEET) reported third quarter EPS of $0.19 after the close Tuesday, which came in above the consensus estimate of $0.16. The company increased its full year 2009 EPS forecast to between $1.04 and $1.06, from prior expectations of $0.97 to $1.00.
Peet's Coffee & Tea gapped up Wednesday and rose sharply during the first 45 minutes of trade. Shares finished up by $3.95 at $32.22 on the highest volume of the year. The stock surged past resistance and set a new high for the year.
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