Coke posts 8% volume growth in India in Q1, 2013 (EconomicTimes)
Beverages major Coca Cola Company today said it has posted 8 per cent sales growth in volume terms in India for the first quarter ended March 29, 2013. The US-based company, which announced its global earnings for the first quarter, said brand Coca Cola grew by 30 per cent in India during the first quarter. “India sparkling beverage volume growth in the quarter was led by brand The Coca-Cola Company (NYSE:KO), up 30 per cent, and driven by strong integrated marketing campaigns and continued expansion of packaging choices to consumers,” the company said in a statement.
Coke to Sell Some Distribution Territory to Five Independent Bottlers (BevNet)
In its first major step to divest from company-owned bottling operations, The Coca-Cola Co., Inc. today announced that it will sell some of its distribution rights to five independent bottlers. While details of the agreements have not yet been finalized, Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company (NYSE:KO), hailed the plan as one that would accelerate “the transformation of our U.S. system in ways that will establish a clear path to achieve our 2020 Vision,” referring to the company’s goal of doubling system revenues in the next seven years.
Swire Coca-Cola USA Participates in New Partnership Model with The Coca-Cola Company (Irasia)
Swire Pacific announced today that Swire Coca-Cola USA, a subsidiary of Swire Beverages, is one of five US bottlers who have agreed in principle with The Coca-Cola Company to participate in the creation of a stronger US business model through the granting of new, expanded territories. It is expected that Swire Coca-Cola USA will participate, along with the other bottlers, in the further development of this business model. Under the arrangement announced today, Swire Coca-Cola USA will assume territories in Colorado including the Denver and Colorado Springs markets. These markets border Swire’s existing territories.
Coca-Cola’s Profit Comes in Above Expectations (TheEpochTimes)
The Coca-Cola Company (NYSE:KO)’s first-quarter results came in above expectations as the world’s biggest beverage maker saw global sales volume grow. The Atlanta-based company says it earned $1.75 billion, or 39 cents per share, for the period ended March 29. That’s down from $2.1 billion, or 45 cents per share, a year earlier. Not including one-time items such as restructuring charges, however, the company says it earned 46 cents per share. That’s better than the 45 cents per share analysts expected.
Radian (RDN), MBIA (MBI) Lower as Home Builder Sentiment Wanes (StreetInsider)
Radian Group Inc (NYSE:RDN) and MBIA Inc. (NYSE:MBI) are both seeing some notable downside today following new data in the homebuilding segment released earlier. The National Association of Home Builders (NAHB) sentiment index caem in at 42 for the month of March. The read is down from 44 reported the prior month and market expectations calling for a 45 reading. The index hasn’t been above 50 — the level between expansion and contraction — since April 2006 and March was the third month of declines. Single-family home sales expectations dropped from 47 to 45, but expectations over the next six-month time frame improved from 50 up to 53.
American Airlines files bankruptcy plan (BizJournals)
AMR Corp., the Fort Worth, Texas-based parent of American Airlines, filed its bankruptcy reorganization plan with the court on Monday. The plan brings the merger between that company and US Airways Group, Inc. (NYSE:LCC) another step closer to reality. The Fort Worth Star-Telegram reports the filing Monday evening outlines how AMR (OTC:AAMRQ) plans to divide its equity stake in the new company among shareholders, employees, creditors and labor unions. The filing also outlines the payments to AMR’s CEO Tom Horton, that U.S. Bankruptcy Judge Sean Lane earlier had declined to approve. Lane told the company they could include it in the plan for shareholder approval.
Non-union employees to get some stock in new American Airlines Group (DallasNews)
American Airlines and parent AMR have proposed that non-union employees get some stock in the new American Airlines Group when AMR emerges from bankruptcy and merges with US Airways Group, Inc. (NYSE:LCC). American’s senior vice president of people, Denise Lynn, outlined the company’s plans Monday to employees, saying the company was proposing the distribution in its bankruptcy plan of reorganization. “In recognition of the restructuring, in particular the changes to your retirement benefits, the company intends to include in its proposed Plan of Reorganization (POR) that American’s independent employees receive a distribution equal to 2.3 percent of the common stock issued under the POR to holders of unsecured claims against American,” Lynn wrote in letters to the employees.
