Consumer shares were generally higher before the opening bell
Monster Beverage (
) was up 27% pre-market after it said Coca-Cola (
) will acquire a 17% stake in the beverage company for $2.15
billion cash and will have two directors on MNST's board. KO will
transfer ownership of its worldwide energy business to MNST, and
MNST will transfer its non-energy business to KO. KO will become
MNST's preferred distribution partner globally and MNST will become
KO's exclusive energy play. KO was up 1.8% at $40.91
Priceline Group (
) priced $1 billion in principal of Convertible Senior Notes due
2021 through a private offering to qualified institutional buyers.
The notes will pay interest semiannually at a rate of 0.90% per
annum. PCLN was up 0.44% at $1,290.50 in
) late Thursday reported an adjusted Q2 loss of $0.75 per share,
narrower than expectations of a loss of $0.95 per share on Capital
IQ. Sales were $2.8 billion, ahead of estimates of $2.78 billion.
Q2 same store sales were up 6%. Online sales through jcp.com were
$249 million for the quarter, up 16.7 % versus the same period last
year. JCP was up 2.4% at $9.97 in pre-market trading.
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