NEW YORK, April 26 – Apple Inc. (AAPL) announced that its third quarter earnings smashed through Wall Street estimates and Apple stock responded by passing $100 per share to an all-time high.
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The company shipped more than 10.5 million iPods and 1.5 million computers in the quarter, as sales grew 20% to $5.26 billion.
Despite recent negativity towards Apple from a small options backdating scandal, investors pushed shares in the company to previously unseen heights, with expectations still on the upside. Deutsche Bank analyst Chris Whitemore increased his price target from $130 to $140.
Though the new AppleTV has not been selling as quickly as the company had hoped, the anticipation for the iPhone is spreading like wildfire, which should only help the electronics maker continue its upward climb.
NEW YORK, April 26 – The Wall Street Journal reported yesterday that Coca-Cola Co. is in talks to purchase some, or all, of “enhanced water” maker Glacéau, in a deal that would significantly enhance Coke’s position in the non-cola drink market.
Apparently no deal has been reached yet, but Glacéau is being valued at more than $2 billion, after it sold 30% of itself in August to Tata Group, an Indian conglomerate that also owns the Tetley tea brand, for $677 million.
Glacéau is best known as the producer of the popular drink Vitaminwater, which is starting to gain a bigger reputation among athletes as a substitute to industry giant Gatorade (owned by Pepsico, Inc.). David Wright has become a partial owner of Glacéau, and can be seen in print ads for the power-c dragonfruit flavor of Vitaminwater. Additionally, Brian Urlacher was recently fined $100,000 by the NFL for drinking Vitaminwater and wearing a Vitaminwater hat during Media Day at the Super Bowl (Gatorade is the official beverage of the NFL). Glacéau contacted Urlacher and offered to pay the fine for him, but was turned down. In response, the company made a $100,000 donation to the United Way (the official non-profit organization of the NFL) in Urlacher’s name.
Coke has been desperately trying to diversify its bottled drink portfolio, as sales of its signature cola have been declining for years. After purchasing energy, tea and vitamin-enhanced drink maker Fuze Beverage LLC in February, the company also had talks to purchase the Arizona Beverage Co., making of Arizona teas.
If the company is able to complete a deal to buy Glacéau, it will be interesting to see if they try to work with their new subsidiary to develop additional flavors to the already popular Vitaminwater line (Glacéau also makes fruitwater and smartwater). Possible new creations could be a carbonated Vitaminwater, or a low calorie option made with splenda.
In response to Bill Simmons’ The NBA from LVP to MVP, Part II
I liked your MVP breakdown (except for the fact that you didn’t actually pick an MVP), but had one thought regarding T-Mac. You noted that “Other than Yao, his best teammates were Luther Head, Rafer Alston, Chuck Hayes, Juwan Howard and Dikembe Mutombo.” Other than Yao??? How can you say this as if you are saying “other than Brian Scalabrine?” Yao averaged 25 points, 9 rebounds and 2 blocks a game. Yes, he only played 48 games, but it’s not like T-Mac carried the Rockets against a schedule of Phoenix, Dallas and San Antonio every night; I am not saying they didn’t have any good wins, but they did lose to Dallas three times, Phoenix once and your Celtics at home (Scalabrine: 4 points, 4 rebounds and 2 assists in 23 minutes) during Yao’s injury.
If you are going to use the “other than…” argument, it should definitely be used for LeBron. He is the only one in your top 10 (other than Bosh) that didn’t have a legitimate compliment. #10 Arenas had Caron Butler and Antawn Jamison, #9 Boozer had Deron Williams, Mehmet Okur and Andrei Kirilenko (out of position or not), #8 Kobe had Lamar Odom (when he wanted him), #7 Bosh had TJ Ford (and should be higher on your list because of it), #6 Duncan had Tony Parker, Eva Longoria and Manu Ginobili, #4 McGrady had Yao, #3 Dirk had Josh Howard, #2 Nash had Stoudemire, Marion and Barbosa and #1 The Fans had Mark Cuban and Jack Nicholson. LeBron may have coasted for the first half of the season, but he still got his team securely in the playoffs while still averaging 27+ points, 6+ rebounds and 6 assists, something no other player in the league can say they did.