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News Breaks
January 18, 2013
07:00 EDTPEP, DPS, MNST, KOLawmakers seeking information on energy drinks, NY Times reports
Three Democratic members of Congress, including two of the most powerful lawmakers in Washington, sent letters to marketers of energy drinks yesterday, seeking information about the drinks' ingredients and data about their effects on young people, according to The New York Times. The letters, sent by senior lawmakers Senator Richard Durbin and Representative Edward Markey along with Senator Richard Blumenthal, went out to several companies including Monster Beverage (MNST), PepsiCo (PEP), Coca-Cola (KO), and Dr Pepper Snapple (DPS), the newspaper reported. All four companies sell high energy drinks. Reference Link
News For MNST;PEP;KO;DPS From The Last 14 Days
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October 2, 2015
18:07 EDTKOCoca-Cola, other blue chips, call for Blatter to step down, WSJ says
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September 30, 2015
14:50 EDTPEPPepsiCo volatility elevated into Q3 and outlook
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September 29, 2015
19:06 EDTKOCoca Cola will not renew health group sponsorships, AP says
Coca-Cola will not renew its sponsorship of a professional group for dietitians, according to the Associated Press, and will not renew its contracts with the American Academy of Family Physicians, the American Academy of Pediatrics and the American College of Cardiology when they end later this year. The company said the move was driven by "budget realities" and not criticism over these partnerships. Reference Link
September 25, 2015
08:10 EDTPEPPepsiCo Q3 should mark earnings trough, says JPMorgan
JPMorgan analyst John Faucher expects PepsiCo's earnings to trough in Q3 as currency headwinds peak. Earnings growth acceleration and gross margin upside position the stock well heading into 2016, the analyst argues. He reiterates an Overweight rating on PepsiCo with a $110 price target.
September 24, 2015
10:01 EDTMNSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 8point3 Energy (CAFD) upgraded to Market Perform from Underperform at Avondale... AEGON (AEG) upgraded to Buy from Neutral at Goldman... AMC Networks (AMCX) upgraded to Buy from Hold at Evercore ISI... Citi ups Ralph Lauren (RL) to Buy on valuation, cost savings... Kate Spade (KATE) upgraded to Overweight from Equal Weight at Stephens... L'Oreal (LRLCY) upgraded to Buy from Hold at Societe Generale... Marriott (MAR) upgraded on historical performance, growth outlook at SunTrust... Monster Beverage (MNST) upgraded to Buy from Neutral at Goldman... Nimble Storage (NMBL) upgraded to Buy from Neutral at Longbow... Qualys (QLYS) upgraded to Neutral from Underperform at Macquarie... Ralph Lauren (RL) upgraded to Buy from Neutral at Citi... Trex Company (TREX) upgraded to Outperform from Neutral at Wedbush... Valero Energy Partners (VLP) upgraded on better than expected transaction at SunTrust.
08:03 EDTKOCoca-Cola Bottling signs LOI to acquire manufacturing facilities
Coca-Cola Bottling Co. Consolidated (COKE) has signed a non-binding letter of intent with The Coca-Cola Company (KO) to purchase manufacturing facilities in Virginia, Maryland, Indiana and Ohio and also that it has signed a definitive agreement with an affiliate of The Coca-Cola Company to expand the bottler's franchise distribution territory to include territories located within Delaware, the District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia and West Virginia. The Company has signed a non-binding Manufacturing Letter of Intent with The Coca-Cola Company to purchase and operate manufacturing facilities currently owned and operated by Coca-Cola Refreshments USA, a wholly-owned subsidiary of The Coca-Cola Company, in Sandston, Virginia; Silver Spring and Baltimore, Maryland; Indianapolis and Portland, Indiana and Cincinnati, Ohio. The transactions proposed in the Manufacturing Letter of Intent are subject to the parties reaching a definitive agreement, with a series of transaction closings for these facilities expected to begin in the first half of 2016. The Definitive Agreement represents the first phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent dated May 12, 2015 between the Company and The Coca-Cola Company ("May 2015 Letter of Intent") and includes the following territories: Baltimore, Capital Heights, Cumberland, Easton, Hagerstown, La Plata and Salisbury in Maryland; Alexandria, Norfolk, Richmond, Yorktown, Fredericksburg and Staunton in Virginia; Elizabeth City in North Carolina; and Washington D.C. CCR currently serves these territories. The Company expects to begin a series of transaction closings for these distribution territories in the fall of 2015 and to complete them by mid-2016. The Company is continuing to work towards a definitive agreement with The Coca-Cola Company for the remainder of the proposed franchise territory expansion described in the May 2015 Letter of Intent, including distribution territories in parts of Ohio, Indiana, Illinois and Kentucky. The Definitive Agreement and other agreements to be entered into at closing will provide the Company the exclusive rights to distribute beverage brands owned by The Coca-Cola Company as well as certain other beverage brands not owned by The Coca-Cola Company that are currently being distributed in the territories by CCR. The transaction includes the purchase by the Company of distribution assets and certain working capital items from CCR relating to these territories and the purchase of exclusive rights to distribute certain non-Coca-Cola beverage brands in these territories. The transaction also includes the grant by CCR to the Company of exclusive rights to distribute beverage brands owned by The Coca-Cola Company in these territories under a comprehensive beverage agreement to be entered into at closing. Under such agreement, the Company will make a quarterly sub-bottling payment to CCR on a continuing basis after the closing for the grant of such exclusive rights. In addition to the transactions contemplated by the Definitive Agreement, the parties also have executed a "Territory Conversion Agreement" which provides for all of the Company's franchise distribution territories with The Coca-Cola Company, including the Company's legacy, recently-acquired and to-be-acquired distribution territories, to be governed in the future by a new and final form of comprehensive beverage agreement.
08:02 EDTPEPPepsiCo sustainability initiatives delivered $375M in cost savings since 2010
07:32 EDTKOCoca-Cola signs LOI to implement national product supply system in the U.S.
The Coca-Cola Company announces the formation of a new National Product Supply System in the United States. The mission of the NPSS will be to facilitate optimal operation of the U.S. product supply system for Coca-Cola bottlers in order to: Achieve the lowest optimal manufactured and delivered cost for all bottlers in the Coca-Cola system; Enable system investment to build sustainable capability and competitive advantage; Prioritize quality, service and innovation in order to successfully meet and exceed customer and consumer requirements. Under the new NPSS, three existing independent producing bottlers, Coca-Cola Bottling Co. Consolidated, Coca-Cola Bottling Company United, and Swire Coca-Cola USA, as well as the Company-owned Coca-Cola Refreshments along with Coca-Cola North America, will be members of Coca-Cola's National Product Supply Group. The NPSG will administer key national product supply activities for these NPSS bottlers, which currently represent approximately 95 percent of the U.S. produced volume. Under the initial terms of the Letters of Intent, it is anticipated that each NPSS bottler will acquire certain production facilities from CCR within their transitioning distribution territories. Initially, it is contemplated that CCR will divest the following nine production facilities with an estimated net book value of $380 million: Consolidated will acquire production facilities in Sandston, Va., Baltimore and Silver Spring, Md., Indianapolis and Portland, In. and Cincinnati, Oh.; United will acquire the production facility in New Orleans, La.; Swire will acquire production facilities in Phoenix, Az. and Denver, Co. The transition of these production facilities from CCR to NPSS bottlers is anticipated to take place between 2016 and 2018. The sale of additional production facilities from CCR to NPSS bottlers in previously announced transitioning distribution territories will be considered in due course. CCR's territories will continue to be refranchised as previously announced and decisions on any remaining production facilities in those territories will also be considered at that time. The new transactions announced today are subject to the parties reaching definitive agreements. The parties are committed to working together to implement a smooth transition with minimal disruption for customers, consumers and system associates.
06:51 EDTMNSTMonster Beverage upgraded to Buy from Neutral at Goldman
Goldman upgraded Monster Beverage (MNST) to Buy and increased its price target to $165 from $160. Analyst Judy Hong said Monster shares have underperformed the market since August, primarily due to issues with the distributor transition and uncertainty on the timing of cash returns. Hong views valuation as attractive ahead of Monster's entry into the China energy market in early 2016, which she believes could add 11c-27c to 2017 earnings. Further, the analyst is modeling a $5B tender announcement in early 2016, twice the amount the market is forecasting, following the close of the Coca-Cola (KO) deal. This is the key driver for Hong's above consensus 2016 earnings estimate of $4.20 versus $3.96.
September 23, 2015
09:18 EDTPEPPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
September 22, 2015
07:36 EDTKOCoca-Cola spent almost $120M since 2010 on health programs, research, WSJ says
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