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Starbucks Corporation (NASDAQ:SBUX): Closing price $56.83
In a vertical move, Starbucks has acquired its first farm, with intentions of using the 600-acre property in Costa Rica to develop new coffee varieties and test methods to eradicate a fungal disease known as coffee rust that is confounding the industry. The coffee giant closed on the purchase Friday; it decided to buy the farm partly because its location will permit the testing of different growing methods, so as to comprehend what makes coffee plants thrive at various elevations. This land ranges in altitude from 3,600 to 5,500 feet above sea level.
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