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Shares of BorgWarner Inc. (NYSE:BWA) ended Tuesday session in red amid volatile trading. The shares closed down -0.54 points or -1.50% at $35.56 with 2.65 million shares getting traded. Post opening the session at $35.97, the shares hit an intraday low of $35.38 and an intraday high of $36.11 and the price vacillated in this range throughout the day. The company has a market cap of $7.71 billion and the numbers of outstanding shares have been calculated to be 214.27 million shares.

BorgWarner Inc. (BWA) agreed to sell its REMY light vehicle aftermarket business to an investor group led by Torque Capital Group. The sale includes manufacturing facilities in San Luis Potosi, Mexico; Piedras Negras, Mexico; Twinsburg, Ohio; Edmond, Oklahoma; Brussels, Belgium; Jemmal (Menzel Harb), Tunisia; and Miskolc, Hungary.  The business employs a total of approximately 3,000 people.  The purchase price of the transaction is approximately $80 million, subject to customary adjustment.  Completion of the transaction is expected in the fourth quarter, subject to the satisfaction of customary closing conditions.

Sales of this light vehicle aftermarket business through the first six months of 2016 were approximately $142 million.  BorgWarner will retain the core rotating electric business of the former REMY International, Inc. to complement its focus on hybrid and electric vehicle propulsion systems. This transaction does not include other BorgWarner products or technologies including the DELCO REMY commercial vehicle products.

Shares of Monster Beverage Corporation (NASDAQ:MNST) ended Tuesday session in red amid volatile trading. The shares closed down -0.04 points or -0.29% at $14.27 with 8134 shares getting traded. Post opening the session at $14.30, the shares hit an intraday low of $14.24 and an intraday high of $14.40 and the price vacillated in this range throughout the day. The company has a market cap of $163.99 million and the numbers of outstanding shares have been calculated to be 11.50 million shares.

Monster Beverage Corporation (MNST) reported financial results for the three- and six-months ended June 30, 2016.

Gross sales for the 2016 second quarter increased 19.7 percent to $945.8 million from $789.9 million in the same period last year.  Net sales for the 2016 second quarter increased 19.3 percent to $827.5 million from $693.7 million in the same period last year. Unfavorable currency exchange rates reduced gross sales by approximately $5.2 million and net sales by approximately $4.1 million in the 2016 second quarter. Excluding accelerated recognition of deferred revenue, gross and net sales would be reduced by $5.0 million in the second quarter of 2016.

Net sales for the Company’s Monster Energy® Drinks segment, which is comprised of the Company’s Monster Energy® drink products (previously the Finished Products segment), for the 2016 second quarter increased 14.2 percent to $743.5 million from $651.2 million for the same period last year.  Excluding accelerated recognition of deferred revenue, gross and net sales for the Monster Energy® Drinks segment would be reduced by $5.0 million in the second quarter of 2016.  Net sales for the Company’s Strategic Brands segment, which include the various energy drink brands acquired from TCCC as a result of the TCCC Transaction (previously the Concentrate segment), for the 2016 second quarter increased 496.4 percent to $77.4 million from $13.0 million in the comparable 2015 quarter (effectively from June 13, 2015 to June 30, 2015).  Net sales for the Company’s Other segment for the 2016 second quarter were $6.6 million compared with $29.5 million for the same period last year. Net sales of $6.6 million for the Company’s Other segment for the 2016 second quarter represent third-party sales acquired as part of the AFF Transaction in the quarter.  Included in net sales for the Company’s Other segment for the 2015 second quarter was $29.5 million of net sales (effectively from April 1, 2015 to June 12, 2015), related to the brands disposed of as a result of the TCCC Transaction.

 

 

 

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