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News Breaks
April 16, 2013
11:29 EDTKO, COKECoca-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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September 17, 2014
16:00 EDTKOOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
06:53 EDTKOWhite House says companies taking steps to reduce HFCs emissions
The Obama Administration yesterday announced new private sector commitments and executive actions to reduce emissions of hydroflourocarbons, or HFCs, powerful greenhouse gases that contribute to climate change, the Shite House stated. Coca-Cola (KO) has set a goal for 100 percent of its newly purchased cold drink equipment to be HFC-free, .while DuPont (DD),, announced that its new products are anticipated to reduce greenhouse gas content of refrigerants by some 90M tons carbon dioxide equivalent in the U.S., and 245M tons worldwide by 2025, the White House noted. Honeywell (HON) plans to transition the majority of its high-GWP HFC production to new low-GWP production, while Johnson Controls (JCI) committed to using the lowest GWP option for each application that best fits the needs of its customers from the standpoint of safety, efficiency, reliability, availability, and economy, according to the White House Johnson Controls also commits to spend $50M over the next three years to develop new products and improve and expand its existing low-GWP portfolio.
06:06 EDTKOWal-Mart to pay $66,000 to settle false advertising investigation with NY AG
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September 16, 2014
13:52 EDTKOWal-Mart finalizes Coca-Cola ad agreement in New York, Bloomberg says
New York attorney general Eric Schneiderman said that Wal-Mart (WMT) charged New York customers more for Coca-Cola (KO) products than stated in national circulars, going against inaccurate advertising regulations, according to Bloomberg, citing a statement from Schneiderman. The retailer will pay a $66K penalty to settle the matter. Reference Link
09:59 EDTKOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACI Worldwide (ACIW) initiated with a Neutral at Sterne Agee... ADP (ADP) initiated with a Market Perform at Bernstein... ANSYS (ANSS) initiated with a Sector Perform at RBC Capital... Accenture (ACN) initiated with a Market Perform at Bernstein... Blackhawk (HAWK) initiated with a Neutral at Sterne Agee... Coca-Cola (KO) initiated with a Market Perform at Cowen... Cognizant (CTSH) initiated with an Outperform at Bernstein... Constellation Brands (STZ) initiated with a Market Perform at Cowen... Dr Pepper Snapple (DPS) initiated with a Market Perform at Cowen... GenCorp (GY) initiated with a Hold at KeyBanc... Global Payments (GPN) initiated with a Neutral at Piper Jaffray... GoPro (GPRO) initiated with a Buy at Cleveland Research... Green Dot (GDOT) initiated with a Neutral at Sterne Agee... Lionsgate (LGF) initiated with a Buy at ISI Group... MEDNAX (MD) initiated with a Neutral at SunTrust... MasterCard (MA) initiated with a Buy at Sterne Agee... Molson Coors (TAP) initiated with an Outperform at Cowen... Monster Beverage (MNST) initiated with a Market Perform at Cowen... NetSuite (N) initiated with an Outperform at RBC Capital... Oracle (ORCL) assumed with a Sector Perform at RBC Capital... PepsiCo (PEP) initiated with an Outperform at Cowen... SAP (SAP) initiated with a Sector Perform at RBC Capital... Teekay (TK) initiated with a Hold at Deutsche Bank... Tesla (TSLA) initiated with a Buy at ISI Group... Visa (V) initiated with a Buy at Sterne Agee... Western Union (WU) initiated with a Neutral at Sterne Agee... Workday (WDAY) initiated with an Outperform at RBC Capital... Yelp (YELP) initiated with a Neutral at RW Baird... Zillow (Z) initiated with an Overweight at Stephens... zulily (ZU) initiated with an Outperform at RW Baird.
07:49 EDTKOBofA/Merrill to hold a conference
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September 15, 2014
16:15 EDTKOCoca-Cola initiated with a Market Perform at Cowen
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14:18 EDTKOPulteGroup names Manish Shrivastava as Chief Marketing Officer
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12:35 EDTKOCoca-Cola brings back SURGE after 12 year hiatus, exclusively through Amazon
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September 10, 2014
16:00 EDTKOOptions Update; September 10, 2014
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11:04 EDTKOCoca-Cola management to meet with SunTrust
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September 8, 2014
15:43 EDTKOMonster Beverage asks court to block NY probe subpoena, Bloomberg says
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September 5, 2014
11:53 EDTKOCoca-Cola says 'on track' for 2014 productivity targets
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