On Wednesday, The Coca-Cola Co (NYSE:KO)’s shares inclined 1.69% to $39.15.
The board of directors of Monster Beverage Corporation MNST has authorized a share repurchase program worth $500 million. Shares may be repurchased in the open market or through privately negotiated transactions, subject to regulatory approvals according to the Zacks.
This California-based energy drink company accomplished its previous share repurchase program valued at $200 million.
Zacks stated during the second-quarter 2015 earnings conference on Aug 6, the company had mentioned that its board of directors was considering a return of capital through programs such as share repurchases. The consideration came as the company received a major boost following the closure of its deal with The Coca-Cola Company KO on Jun 12.
The long-term deal with Coca-Cola Company gave the company full access to Coca-Cola’s world-class global distribution network. The deal is predictable to enhance the cash position while significantly expanding Monster’s presence in the international energy drinks market, where it presently has a limited presence. Moreover, the brands attained from Coca-Cola, which are produced as concentrates or beverage bases, are high-margin products and will drive Monster Beverage’s top line and gross margin over the near term.
The company had cash and cash equivalent of $1.70 billion at the end of the second quarter 2015. Apparently, administration has been able to fulfill its commitment to return values to stockholders.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company primarily offers sparkling beverages and still beverages. Its sparkling beverages include nonalcoholic ready-to-drink beverages with carbonation, such as carbonated energy drinks, and carbonated waters and flavored waters. Zacks reported.
eBay Inc (NASDAQ:EBAY)’s shares gained 2.93% to $26.74.
The week will start with eBay Inc. EBAY launching a speedy shipping membership program in Germany — eBay Plus — on Tuesday, and end with the famous beer festival, Oktoberfest, starting on Friday (Slurp!), according to the Zacks.
eBay is finally tackling one of its long-standing challenges — shipping — with eBay Plus. (Well, at least in Germany!)
Zacks stated that eBay Plus will offer free delivery within two days on several items, and free returns within a month of purchase for 19.90 euro ($22) per year.
According to eBay’s worldwide Vice President of Shipping, Carl Gish, the company has been testing the program since May and thousands of sellers have already signed up. He also stated that the membership fee will cover the costs for shipping and returns, usually borne by customers.
eBay Inc. operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally. It operates in three segments: Marketplaces, Payments, and Enterprise. The Marketplaces segment operates ecommerce platform, eBay.com; localized sites, counting eBay.de and eBay.co.uk; vertical shopping Websites, such as StubHub; and classifieds Websites, such as alaMaula, BilBasen, dba.dk, eBay Classifieds, eBay Kleinanzeigen, eBay Annunci, Gumtree, Kijiji, iBazar, 2dehands.be, 2ememain.be, LoQUo, Marktplaats.nl, and mobile.de, in addition to provides advertising services. The Payments segment operates Paypal, which enables individuals and businesses to send and receive payments online and through a range of mobile devices.
At the end of Wednesday’s trade, CSX Corporation (NYSE:CSX)‘s shares surged 1.25% to $29.25.
Building on its record of leading sustainability performance in the transportation sector, CSX was named to the Dow Jones Sustainability Index for North America for the fifth successive year.
CSX is the only U.S. railroad recognized by the Dow Jones Sustainability Index for North America and among just four transportation companies on the 2015 list. CSX showed strong performance across the assessed criteria, specifically in the areas of environmental policy and administration system, fuel efficiency, climate strategy, corporate governance, and stakeholder engagement.
The index is a partnership between the Dow Jones Indexes and RobecoSAM Sustainability Assessments, which tracks the financial performance of the world’s leading companies according to rigorous economic, environmental and social criteria.
In 2014, CSX achieved record-setting fuel efficiency and has reduced greenhouse gas (GHG) emissions intensity by 4.5 percent since 2011, bringing the company closer to its voluntary aim of reducing GHG emissions intensity by six to eight percent from 2011 levels by 2020. In addition, CSX invested more than $18 million in community organizations in 2014 and logged nearly 25,000 volunteer hours working with national and local organizations to support safety, environmental, community and wellness initiatives across its network.
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers. The company transports crushed stone, sand and gravel, metal, phosphate, fertilizer, food, consumer, agricultural, automotive, paper, and chemical products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, in addition to exports coal to deep-water port facilities.
AngloGold Ashanti Limited (ADR) (NYSE:AU), ended its Wednesday’s trading session with 5.44% gain, and closed at $7.95.
Randgold Resources Limited and AngloGold Ashanti (AU) have concluded an investment agreement aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana. In terms of the Agreement, Randgold will lead and fund a development plan designed to rebuild Obuasi as a viable long-life mining business with an attractive cost structure and returns.
Obuasi, located in the Ashanti region of Ghana, 320 kilometers northwest of the capital Accra, is a large, high-grade deposit with proven and probable ore reserves (as stated by AngloGold Ashanti in their 2014 Annual Report) of 24.53Mt at 6.70g/t for 5.29Moz, part of a substantial mineral resource base. In 2012, AngloGold Ashanti initiated a program to modernize the mine, principally by starting to develop a ramp access that will ultimately run from surface to high-grade blocks of ore underground. The ramp will supplement current vertical hoisting infrastructure and assist debottleneck the underground operation by allowing for greater ease in transporting people and materials underground, and transporting ore to surface. This is a necessary step ahead of the envisaged transformation of the mine into a modern, mechanized operation.
AngloGold Ashanti Limited operates as a gold mining and exploration company. It also produces silver, uranium oxide, copper, molybdenum, and sulphur.
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