The Coca-Cola Company (NYSE:KO), Pepsi (NYSE:PEP), Monster (NASDAQ:MNST) and Dr. Pepper Snapple (NYSE:DPS) are beverage companies that Wells Fargo covers for investors, and following channel checks with tens of thousands of convenience stores in the United States, the analysts expect that they will all report ‘solid second quarter results’. In a note to investors, Wells says that beverage sales were apparently quite strong over the Memorial Day weekend, with 90 percent of survey respondents saying that their sales were up year-to-year, and 60 percent reporting that their sales increased by 5 percent or more. Additionally, 91 percent of those surveyed said that their sales have risen, so far in the second quarter.
Pfizer Inc. (NYSE:PFE) is withdrawing from the race to acquire Amylin (NASDAQ:AMLN), according to an inside source to Bloomberg. Bristol-Myers (NYSE:BMY), AstraZeneca (NYSE:AZN), Merck (NYSE:MRK), and Sanofi (NYSE:SNY) have all made first-round proposals, however, and the bids are said to value the drugmaker in ranges of $25 to $29 per share, or approximately $4.1 billion to $4.7 billion.
Procter & Gamble Co. (NYSE:PG), along with Ford (NYSE:F), NIKE (NYSE:NKE), H.J. Heinz (NYSE:H), and Coca-Cola (NYSE:KO), report the creation of the Plant PET Technology Collaborative, which will be a strategic working group that concentrates upon quickening the development and utilization of 100 percent plant-based PET materials and fiber in their products.
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