Kraft Leverages Soda
SodaStream International Ltd (NASDAQ:SODA) out of Israel is partnering with Kraft Foods Inc. (NYSE:KFT) to create the U.S. firm’s branded flavors available to its soda makers, in a step projected to enhance awareness of the brand and the home carbonation market.
In a letter to clients, Oppenheimer Analyst Joseph Altobello wrote that, “This is a strategic step forward for SodaStream, as it should increase consumer awareness and credibility for both the brand and the home carbonation category.”
The first brands to be available to SodaStream from Kraft include diet drink Crystal Light and lemonade Country Time. This marks the first instance of Kraft Foods flavors being available distinctly for carbonated beverage use.
Here’s how these stocks are reacting to the news:
SodaStream International Ltd. (NASDAQ:SODA): SODA shares recently traded at $39.27, up $1.52, or 4.03%. They have traded in a 52-week range of $27.00 to $79.72. Volume today was 4,846,996 shares versus a 3-month average volume of 1,361,480 shares. The company’s trailing P/E is 28.92, while trailing earnings are $1.36 per share.
Kraft Foods Inc. (NYSE:KFT): KFT shares recently traded at $37.74, up $0.35, or 0.94%. They have traded in a 52-week range of $30.21 to $38.05. Volume today was 7,251,733 shares versus a 3-month average volume of 8,295,770 shares. The company’s trailing P/E is 20.59, while trailing earnings are $1.83 per share.
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