MONSTER Beverage shares declined the most in more than two years after its distribution deal with Coca-Cola took a toll on profit in the first quarter, when the company had to cancel contracts with other partners. Net income fell to $4.41 million (R52.51m), or 3c a share, from $95.3m, or 55c, a year earlier, the Corona, California-based company said last week. Excluding some items, earnings amounted to 62c a share. Analysts predicted 68 cents, according to data compiled by Bloomberg.
The stock fell 10 percent to $128.47. – Bloomberg