Berkshire Hits $200K per Share; Coke to Acquire 17% of Monster Beverage
US Commerce Department reported that July retail sales, excluding auto sales, were up only 0.1% from the previous month. Weekly jobless claims rose more than expected last week, but remained near pre-recession marks. One of the biggest stories of the day was a $200,000 share price that Berkshire Hathaway's (BRK) Class A stock hit for the first time. Coca-Cola (KO) and Monster Beverage (MNST) announced a long-term partnership.As a part of the deal, Coca-Cola will pay $2.15 billion cash for a 17% stake in Monster Beverage whose shares soared upon the news in the after-hours trade.
Word on the Street
- Coca-Cola (KO) to pay $2.15B for stake in Monster Beverage (MNST).
- Cisco (CSCO) reports flat earnings of $2.25 billion.
- Warren Buffett's Berkshire (BRK) shares hit $200,000 price mark.
- Labor Department reports 311,000 weekly jobless claims.
- Etsy forays into wholesale business.
- SeaWorld (SEAS) stock pummeled after earnings miss.
Published on Aug 14, 2014By InvestorGuide Staff