Markets

In the news: BHP plans to get smaller, Coke investing in Monster and more

Friday headlines include BHP Billiton planning to separate some assets, Gannett beating Carl Icahn to the punch, Coca-Cola investing in Monster Beverage, and some emerging issues for Tesla.

BHP Billiton

Mining giant BHP Billiton ( BHP ) said Friday that it plans to sell off some of its aluminum, manganese and nickel assets. The company's board is considering a spinoff of some assets into a separate company that could be worth up to $14 billion.

Gannett

Media company Gannett ( GCI ) beat activist investor Carl Icahn at his own game according to filings made yesterday. Icahn revealed a 6.6% stake in the company Thursday and said he had intended to push the company to divide its print and broadcast operations. Icahn reportedly amasses the stake on Aug. 4, a day before the company announced plans to spin its print business into a separate company.

Ebay

Online retailer Ebay's ( EBAY ) payment unit, PayPal, is reportedly in talks with a number of bitcoin transaction providers to start taking payments denominated in bitcoin. Payments in the virtual currency will be made through PayPal's Braintree payment system.

Coca-Cola

Beverage giant Coca-Cola ( KO ) said Thursday that it is taking a 16.7 percent stake in Monster Beverage ( MNST ) for $2.15 billion. Coke will also be nominating two directors to Monster's board. Coke has struggled in recent quarters as sales of its flagship cola and other soft drink brands have flagged. Consumers have turned away from those drinks in favor of energy drinks and other options.

Tesla Motors

Electric car maker Tesla (TSLA) is at record highs, but some analysts and others are starting to raise questions about the stock and the company's product. As typically happens any time a stock with a high valuation is trading at an all-time high, analysts have started to sound a cautious not on the company. Perhaps more worrisome is a recent report from Consumer Reports. The magazine had given the Model S very high marks initially, but a recent report detailed a number of problems the test car has developed in the past 18 months.

This article was originally published on MarketIntelligeneCenter.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

KO BHP MNST EBAY GCI

Other Topics

Commodities

Latest Markets Videos