Market Minute: Heartache for Monster Beverage from Health Group Study
Produced by Drew Trachtenberg
Nike (NKE) shares are set to sprint ahead as its quarterly net jumped by 55 percent. That easily topped Street expectations. Orders in the pipeline were also strong.
An American Heart Association study is likely to dent shares of Monster Beverage (MNST). It found that energy drinks can increase blood pressure, which can disturb the natural rhythms of the heart.
Blackberry (BBRY) launches its new Z-10 smartphone today through AT&T (T). The early reviews have been pretty good, but analysts are uncertain it can find enough buyers because of the stiff competition from Apple (AAPL), Samsung and other Android makers. They say the company's future rides on the success of the new model.
General Motors (GM) is going ahead with a threat to shut down an Adam Opel production plant in Germany by the end of next year. This follows a union vote rejecting a wage freeze and other cost-cutting proposals.
BP (BP) says it will buy back $8 billion of its stock. The intent is to return value to shareholders from the company's sale of its interest in a joint venture with a Russian energy company.
Senator Jay Rockefeller has written to Carnival Cruise (CCL), asking about the series of problems the company has incurred recently. The senator noted that Carnival pays no U.S. taxes but used millions of dollars worth of help from the Coast Guard and the Navy.
Tech Data (TECD) will take a hit after saying it made accounting errors over the past three years. The company distributes technology products and provides logistical help.
And Zynga (ZNGA) customers can now sign up with the social gaming company without going through Facebook. It's part of an agreement the two companies made last year that ended an exclusive marketing arrangement.