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April 16, 2013
11:29 EDTCOKE, KOCoca-Cola climbs after Q1 results, preliminary restructuring deal
Coca-Cola (KO) is advancing after the company announced stronger than expected first quarter results and said that it would look to restructure its U.S. bottling system sooner than previously expected WHAT'S NEW: Coca-Cola's first quarter earnings per share and revenue were both higher than expected. Coke reported earnings per share of 46c, which beat the consensus 45c forecast, on operating revenue of $11.04B, which topped the $11.02B consensus. The beverage maker said that its sales volume increased 4% during the quarter, up from 3% in the previous quarter. The company also announced that it had agreed in principle with five bottling companies to create a franchised bottling system. Under the system, the five companies would receive exclusive rights to bottle Coca-Cola products in some areas of the U.S. The deal will enhance the quality of the bottling operations in these areas, Coca-Cola stated. Financial terms of the deal, which is expected to be hammered out by the end of this year, were not disclosed. The territories that will be affected include Tennessee, Alabama, Denver, and Kentucky. One of the bottlers, Coca-Cola Bottling Consolidated (COKE), announced it has signed a non-binding letter of intent to expand its franchise territory. ANALYST REACTION: In a note to investors, Citigroup analyst Wendy Nichols wrote that Coca-Cola's results were strong. Moreover, the company's decision to refranchise some of its territories is positive, as uncertainty about the timing and scope of the move had weighed on the stock, Nichols added. She maintained a $45 price target and Buy rating on the shares. TODAY'S PRICE ACTION: In late morning trading, Coca-Cola jumped $2.22, or 5.5%, to $42.31. Meanwhile, Coca-Cola Bottling Consolidated rose 3.8% to $60.23.
News For KO;COKE From The Last 14 Days
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June 26, 2015
16:00 EDTKOOptions Update; June 26, 2015
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June 25, 2015
19:34 EDTKOAirbus, Qualcomm, others invest $500M in OneWeb's global internet initiative
OneWeb announced it has raised $500M in funding from a number of companies, including Airbus (EADSY), Bharti, EchoStar's (SATS) Hughes, Intelsat (I), Qualcomm (QCOM), Coca-Cola (KO), Totalplay, and Virgin Group. OneWeb is engaged in developing satellite technologies to "beam" broadband internet to rural and underdeveloped locations, as well as to ships, planes, trains, and oil platforms. Bharti chairman Sunil Bharti Mittal will be joining Airbus Group CEO Tom Enders as well as Virgin's Richard Branson and Qualcomm's Paul Jacobs on the OneWeb board of directors. OneWeb also reiterated its June 15 announcement of its joint venture with Airbus to design and manufacture 900 microsatellites. "We are committed to giving our full industrial and space expertise to this mission," remarked Airbus' Tom Enders. "Intelsat has the world’s largest fleet of Ku Band geostationary satellites and our interoperability will enable pole-to-pole and urban canyon coverage with new services," said Intelsat. Note that both Facebook (FB) and Google (GOOG) are working on similar projects to facilitate global internet access. Reference Link
07:39 EDTKOMonster Beverage legacy international sales can at least triple, says Stifel
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June 22, 2015
17:29 EDTKOCoca-Cola reports 16.7% stake in Monster Beverage
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