Coca Cola Bottling’s Business Running Smooth
A glimmer of hope for shareholders of Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), as the stock has advanced by nearly 10%. The company posted a profit of $15.7 million, or $2.01 per share when adjusted for non-recurring costs. Revenues came in at $840.4 million, up by 27% year-over-year. Not to be confused with The Coca-Cola Co (NYSE:KO), Coca-Cola Bottling is only responsible for the packaging of beverages and the subsequent distribution and marketing. The company has a market cap of $1.32 billion and pays an annual dividend of $1.00 per share, providing investors with a 0.71% yield. Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) is not a very popular stock among the funds we follow, with only six of them having reported a stake at the end of March.
Coherus Biosciences Posts A Loss
Spurred by the earnings report released on Tuesday after the closing bell, Coherus Biosciences Inc (NASDAQ:CHRS) opened 2% higher this morning, but quickly took a nosedive and plunged by 8% and currently is trading at over 4% in the red. The developer of biosimilar therapeutics reported a loss of $70 million for the second quarter, or $1.72 per share, missing the estimates by $0.40. Revenue came in at $14.1 million, up 105% year-over-year. So far this year, the stock has been in an uptrend, gaining roughly 32% through yesterday’s closing price of $29.70 per share. At the end of the first quarter, Coherus Biosciences Inc (NASDAQ:CHRS) could be found in the portfolios of 11 of the funds we track, down from 12 recorded three months earlier.
Another Biotech, Another Loss
Investors are pushing Halozyme Therapeutics, Inc. (NASDAQ:HALO) lower as well, guided by the company’s second quarter report. Halozyme posted a loss of $26.9 million, which translates into $0.21 per share, ahead of analysts’ forecasts of a loss of $0.26 per share. Revenue came in at $33.3 million, down by 23% year-over-year. The company also said it expects full-year revenue to fluctuate between $140 million and $150 million. Halozyme is a biotechnology company that develops and commercializes human enzymes, which are used to improve the delivery of injected drugs and fluids. So far this year, the stock has been deep in the red zone, currently down by 40%. According to our data at the end of the first quarter, 16.5% of Halozyme Therapeutics, Inc. (NASDAQ:HALO) common stock was held by 17 of the funds we track, up from 16 funds that reported stakes as of the end of 2015.