BUZZ - Starbucks stock rises, Chipotle stock falls after Starbucks denies acquiring Chipotle

October 12 - ** Starbucks (SBUX.O) shares rose about 1%, closing at $91.50; while Chipotle Mexican Grill (CMG.N) shares fell about 3% in early trading, closing at $30.57

** In response to acquisition rumors, Starbucks (SBUX) stated it will not acquire Chipotle (CMG) (link)

** Chipotle declined to comment, adding its focus remains on executing the “growth formula strategy”

** The Financial Times reported last week that the coffee giant has worked with advisers to explore a proposal for a possible acquisition of the Mexican burrito chain (link)

** As of the close of the previous trading day, Starbucks (SBUX) has risen about 8% so far this year; CMG has fallen about 15% so far this year

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