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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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August 25, 2015
07:08 EDTKOCoca-Cola says to meet 2020 water replenishment goal by end of 2015
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August 23, 2015
13:36 EDTKOCoca-Cola shares could return 30% over next few years, Barron's says
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August 20, 2015
19:53 EDTKORetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
18:49 EDTKOCoca-Cola CEO says 'we'll do better' on research funding, WSJ reports
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August 19, 2015
14:25 EDTKOCoca-Cola has option for outright purchase of Suja, Bloomberg says
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14:13 EDTKOCoca-Cola said to have option to eventually buy Suja, Bloomberg says
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11:48 EDTKOCoca-Cola makes minority investment in Suja, Suja says in blog
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