Consumer stocks were mixed Friday afternoon with shares of consumer staples companies in the S&P 500 rising 0.2%. Shares of consumer discretionary firms in the S&P 500 were down about 0.1%.
In company news, Coca-Cola Bottling Co. Consolidated ( COKE ) was narrowly lower Friday afternoon with the independent Coca-Cola bottler announcing a definitive agreement with The Coca-Cola Co. ( KO ) expanding its franchise territory in Tennessee to now include Morristown and Johnson City, which previously had been served by a KO subsidiary.
The transaction marks the first change in the companies' plan -- announced in April 2013 - to transfer some of KO's franchise territories in eastern Tennessee and central Kentucky to COKE. The current deal is expected to close by the end of May.
COKE shares were down 0.1% in recent trade at $77.19 each, earlier rising to an intra-day high of $77.89 a share. The stock has a %2-week range of $59.06 to $89.40 a share, adding 28.5% in value over the past 12 months.
KO was up 0.3% Friday at $40.83 a share, up 10 cents.
In other sector news,
(-) MELI, (-1.6%) Q1 net income of $0.69 per share tops Street view by $0.13. Revenue grows 12.4% over same quarter last year to $115.4 mln, beating Capital IQ consensus by $5.65 mln.
(-) FUEL, (-26.4%) Q1 revenue climbs 94.8% to $74.4 mln but trails consensus by $1.92 mln. Net loss of $0.18 per shares beats by $0.11. Projected Q2 revenue of $88 mln to $92 mln lags Street by at least $9.14 mln. Guides FY14 revenue in-line.
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