News Buzz: McDonald's Corporation, Tiffany & Co, The Coca-Cola Company


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NYSE:MCD / NYSE:KO
03/08/2013 [ACCESSWIRE]

NEW YORK, March 08, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on McDonald's Corporation, Tiffany & Co, The Coca-Cola Company.

McDonald's Corporation(NYSE:MCD)’s has said that February sales at restaurants open at least a year and a month fell less than expected even as economic uncertainty prevailed.

U.S. sales at restaurants open at least 13 months fell 3.3 percent, against analysts’ expectations of a 3.55 percent decline while global same-restaurant sales were down 1.5 percent, against the expected 1.63 percent fall.

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Comparable sales were up 1.7 percent globally. In the United States, sales were flat. In Europe, comparable sales fell 0.5 percent, while Asia/Pacific, Middle East and Africa saw a fall of 1.6 percent.

President and Chief Executive Don Thompson however said that McDonald's was confident in the "fundamental strength" of its business. "We have the operating experience to manage through the current challenging environment and the right strategies in place to grow the business for the long term," he said.

In October, the company had reported a global monthly restaurant sales decline, its first in nine years. The weak economic environment has affected growth and results since then.

Shares of McDonald's Corporation  rose nearly 2 percent to $98.91 in early trade.

Meanwhile, an analyst has downgraded Tiffany & Co.(NYSE:TIF) to "Sell" from "Hold" and cut its price target to $52 from $58, citing the jewelry company's high stock price.

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In her client note, Laura Champine of Canaccord Genuity said that Tiffany's stock price has climbed 16 percent since Jan. 10 despite the fact that the sales in the holiday quarter were disappointing. The company has also been

failing to meet earnings expectations for four straight quarters, she noted.  She thinks sales momentum will continue to slow thanks to recent tax hikes that are likely to discourage luxury shopping.

Although The Coca-Cola Company(NYSE:KO) has decided to shut down its concentrate plant in Canlubang, Philippines, the company has said that it remains committed to the country, and that its $1.35-billion bottling operations will be in expansion mode over the next several years.

In a statement, Coca-Cola Bottlers Philippines said the closure of the Canlubang plant would not affect the bottling plant in Sta. Rosa, Laguna. The latter makes up the bulk of the group’s operations in the country. Earlier,

Mexico’s Coca-Cola Femsa had completed a deal to acquire 51-percent stake in Coca-Cola Bottlers Philippines for $688.5 million, fixing the value of the Philippine bottler at $1.35 billion.

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According to the terms of the agreement, Coca-Cola Femsa has the option to buy the remaining 49 percent within seven years. The concentrate plant in Canlubang, Laguna is being closed as part of Coca-Cola’s streamlining efforts in the AsiaPac region. Its operations would be moved to Singapore. The plant’s 57 employees will be offered jobs at other Coca-Cola operations in the Philippines and Singapore.

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