By Siddharth Cavale and Adam Jourdan
(Reuters) – Strong sales volume growth in China helped The Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) beat quarterly revenue estimates as lower-priced, smaller soda bottles and juices attracted more price and health-conscious shoppers in the world’s second largest economy.
Case volumes in China rose 12 percent in the first quarter of the year, boosted by marketing campaigns around the key Chinese New Year holiday shopping period, helping drive a global two percent rise in volumes.
(Reuters) – Coca-Cola Co reported better-than-expected quarterly revenue as strong sales in China more than offset a drop in Europe and flat volumes in North America.
Coke’s shares, which had fallen 3.4 percent in the 12 months to Monday’s close, were up 3 percent in early trading.
(Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz) said it expects to spend upto $1.1 billion – almost double its previous forecast – to increase capacity at a Mexican brewery, hurting its full-year profit and cash flow forecasts and sending its shares down 5 percent.
The company, which makes Svedka Vodka and Robert Mondavi wine, also reported a better-than-expected fourth-quarter quarter profit, helped by strong sales of beers such as Corona and Modelo in the United States.
(Reuters) – John Malone’s Liberty Media Corp said on Thursday it has sold almost all of its stake in Barnes & Noble Inc, ending a nearly three-year bet that the struggling retailer would emerge as a dominant seller of e-books.
The sale of Liberty’s shares, expected to close April 8, means the departure of one of the bookseller’s biggest investors, as well as the exit of Liberty Media Chief Executive Greg Maffei, a respected dealmaker, from Barnes & Noble’s board.
(Reuters) – Activist investor Nelson Peltz, who has been pushing PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) to separate its beverage and snacks businesses, blasted the company yet again on Thursday and demanded answers on operational issues and its corporate strategy.
Peltz’s Trian Fund Management, which owns nearly 1 percent of PepsiCo’s stock, has been urging the company to split its flourishing snacks division from its sluggish beverage business to create “two leaner and more entrepreneurial companies.”
March 11 (Reuters) – Men’s Wearhouse Inc said it
would acquire rival Jos. A. Bank Clothiers Inc for
about $1.8 billion, ending a five-month saga that started with
Jos. A. Bank offering to buy its larger menswear rival.
The companies, operating in a mature market, have bid and
counterbid for each other since October when Jos. A. Bank
offered to buy Men’s Wearhouse for about $2.3 billion.
By Aman Shah and Siddharth Cavale
(Reuters) – Visa Inc and MasterCard Inc said they had launched a cross-industry group to improve security for card transactions and press U.S. retailers and banks to meet a 2015 deadline to adopt technology that would make it safer to pay with plastic.
The move follows several data breaches at U.S. retailers, including one at Target Corp late last year involving the theft of about 40 million credit and debit card records.
By Svea Herbst-Bayliss and Siddharth Cavale
(Reuters) – Billionaire hedge fund manager Daniel Loeb is mounting a proxy fight at Sotheby’s with the goal of winning three board seats after the auction house’s promise to return $450 million to shareholders failed to appease activist investors.
Loeb’s $14 billion Third Point, Sotheby’s biggest investor with a 9.53 percent stake, said on Thursday in a regulatory filing that it is proposing a slate that includes Loeb, restructuring expert Harry Wilson and former investment banker Olivier Reza.
Feb 20 (Reuters) – Activist Investor Nelson Peltz renewed
his crusade to convince PepsiCo Inc to spin off its
slow-growing beverage business from its flourishing snacks
division, less than a week after the company poured cold water
on the idea.
Shares of PepsiCo, whose snack brands include Lays, Cheetos
and Doritos, rose as much as 2.3 percent on Thursday.
(Reuters) – Coca-Cola Co’s (KO.N: Quote, Profile, Research) quarterly global sales volumes rose less than the company estimated and fell in North America, but the company said it expects to restore sales momentum in 2014.
Coca-Cola shares fell as much as 4.3 percent – their most in seven months – making the stock the biggest drag on the Dow Jones Industrials index .DJI on Tuesday.