Standard & Poor's rating agency on Wednesday downgraded its debt rating on Canadian soft drink company Cott Corp. further into junk status and kept the company on watch for possible further downgrades.
Cott Corporation (NYSE: COT) (TSX: BCB), the world'slargest retailer brand soft drink provider, announced today that theCompany will host a conference call on Thursday, November 6, at 10 a.m. ETto discuss third quarter financial results.
Private Label manufacturers recently met for a few days at the PLMA trade show in Chicago. The mood on the economy was very dour but attendees were upbeat with the prospects for the private label food industry in 2009. Private Label clearly is gaining share among price conscious consumers. Consumers hit by job losses, disappearing 401(k)s and IRAs and daily depressing economic headlines are more price sensitive than ever before. Consumers are modifying their shopping habits for food in two major ways.
Post-election selloff. U.S. stocks plunged to finish with their worst losses in two weeks. With the election settled, traders focused on more mundane matters like weak job numbers and deep declines in goods and services industries. A weak outlook from tech bellwether Cisco (CSCO) sent stocks futures down further in overnight trade. Sellers unloaded financial stocks like Citigroup (C) and Bank of America (BAC) in the last hour of trading, which likely represents heavy mutual-fund selling. "People have accepted that even with a new president and new...
Cott Corp. (COT) is the world’s largest supplier of retailer brand soft drinks, and the fourth largest nonalcoholic beverage maker. Given the recent growth trends in private label, Cott should be doing well. Unfortunately, in 2006, when faced with slowing growth and shrinking margins, instead of striving to become a better and more efficient producer, the company abandoned its historical business plan and entered the uncharted territory of enhanced waters and energy drinks - with its own brands. This plan failed miserably: Cott alienated its core retail customers; healthy profits turned to...
BMO Capital markets analyst David Hartley has lowered his target price to C$2 from C$3.25 after the soda pop maker cut its 2008 guidance and withdrew guidance for 2009. He also doubled the level of red on his predicted per share earnings estimates in 2008 to a loss of C$0.16 from a loss of C$0.08. His new 2009 per share earnings estimate has slid to a loss of...
Cott Corp. (COT) shares rose 13% on Monday after New York-based hedge fund Crescendo Partners said it has acquired a significant stake in the struggling soft drink maker and plans to shake things up in the boardroom.
Crescendo has purchased an 8.7% stake in Cott, stating in various reports that it plans to meet with Cott executives to discuss possible changes to the management team and board of directors.
M&M talks M&A. Sources say privately-held Mars Inc. and Berkshire Hathaway (BRK.A) are in late-stage talks to acquire Wrigley (WWY) for more than $22 billion. Wrigley's stock market value as of Friday's close was $17.3B. For funding the deal, Buffett's Berkshire will become a stakeholder in the new combo. A merger could force Hershey (HSY) and Cadbury (CSG), who have already talked, to merge too. Buffett, the WSJ says, has long admired Mars, which may explain his uncharacteristic willingness to do a partnership deal. (Let your mind wander --...
After falling 20% on Monday, Cott Corp. (COT) shares were down another 35% through early afternoon trading on Tuesday, amid fresh concerns regarding its prized relationship with Wal-Mart (WMT).
Cott confirmed Tuesday morning that it has received notice of a reduction in shelf space and merchandising support for Wal-Mart's private label carbonated soft drinks in the U.S., including Sam's Choice, the retailer brand produced by Cott.
Already down 14%, or C$1.48, to C$8.82 at 10:30 a.m. ET Thursday on a lower outlook for 2007, Cott Corp. (COT) isn't getting any help from analysts either.
While
not making any changes to its estimates, Deutsche Bank recently lowered
its price target from US$16 to US$12 due to the lower probability
of the beverage maker being involved in industry consolidation.
FP Trading Desk submits: Shares in Cott Corp. (COT) fell more than 6% on Thursday after the company reported second quarter results that paled in comparison to last year. The soft drink maker said in a statement that its second quarter volume was 340.3 million eight-ounce equivalent cases, down 6.4% compared to the second quarter of 2006, while revenues in the quarter were C$498.4 million, down slightly from C$502.0 million in the second quarter of the prior fiscal year.
Cott Corporation ( Cott ) achieved its SELL target price on 13 November 2008 , reflecting the announcement of disappointing 3Q 08 results , rising investor concerns over its ability to refinance ...
Cott Corporation ( Cott ) intends to drive revenue and volume growth by focusing on in - store merchandising and display ; penetrating new , high - margin beverage segments ; expanding its business ...
The third quarter financial reports of two second - tier CSD companies may offer a cautionary tale to beverage firms considering a partnership with retail giants.Jones Soda and Cott Corporation ...
Cott Corporation has seen impairment charges in its third quarter hammer its net profit deeper into the red.The Canada - based retailer soft drink provider said today ( 6 November ) that net ...
TORONTO , Nov 6 ( Reuters ) - Cott Corp ( BCB.TO : Quote , Profile , Research , Stock Buzz ) reported a wider third - quarter net loss on Thursday as sales volume declined and promotional costs ...
Toronto Stock Exchange.Cott Corporation will host a conference call today , Thursday , November 6th , at 10 : 00 AM EST to discuss third quarter and year - to - date financial results. ...
Cott Corporation ' s ( Cott ) NYSE common stock appreciated significantly on 04 November 2008 , reflecting volatility in global equity markets.However , going forward , in light of the difficult ...
TORONTO - - ( eMediaWorld - October 22 , 2008 ) - Cott Corporation ( NYSE : COT ) ( TSX : BCB ) , the world's largest retailer brand soft drink provider , announced today that the Company will ...
TORONTO - - 10 / 22 / 08 - - Cott Corporation ( NYSE : COT ) ( TSX : BCB ) , the world's largest retailer brand soft drink provider , announced today that the Company will host a conference call ...
HONG KONG (MarketWatch) -- Macquarie Group Ltd , Australia's biggest investment bank, reported Tuesday net income for the first half fell 43% from a year earlier, putting the bank on track for its first decline in annual profit after a more than decade-long run of growth. Net income for the six months ended Sept. 30 came to A$604 million ($392 million), compared to from A$1.06 billion a year earlier. The bank declared an interim dividend of A$1.45 per share. Macquarie also reported A$1.14 billion in write downs, comprised of one-off cots on the sale of...
SAN FRANCISCO (MarketWatch) -- AutoNation Inc. shares jumped almost 14% Thursday after the car dealership group posted a second-quarter profit decline that wasn't as steep as Wall Street had expected and announced cost cuts that will include 1,300 layoffs.
BMO Capital markets analyst David Hartley has lowered his target price to C$2 from C$3.25 after the soda pop maker cut its 2008 guidance and withdrew guidance for 2009. He also doubled the level of red on his predicted per share earnings estimates in 2008 to a loss of C$0.16 from a loss of C$0.08. His new 2009 per share earnings estimate has slid to a loss of...
