NEW YORK ( TheStreet) -TheStreet Ratings' stock model upgraded Coca-Cola Bottling (COKE - Get Report) to 'Buy' from 'Hold'. Revenue at this $467 million market cap, soft drink bottler rose by 10.5% to $417 million in the second quarter when compared to the year earlier quarter.
TheStreet Ratings released rating changes on 16 additional U.S. common stocks for August 26, 2010. In total, six stocks were downgraded and 11 stocks have been upgraded by our stock model.
Net income at Coca-Cola Bottling remained level at $12 million in both the second quarter of 2010 and 2009. The transcript of the quarterly results details comparable net income of $16.3 million in the current quarter versus $9.2 million in the second quarter of 2009 after backing out fuel & aluminum hedges and the impacts of the Nashville flood.
Heading the other direction, being downgraded to 'Hold' from 'Buy', is Tekelec (TKLC). The stock of this $778 million market capitalization, telecom equipment company, set a new 52-week low recently by falling as much as 46% from its mid-April high of $19.89. In the second quarter revenue declined 4.1% while net income dropped 3.4% on lower equipment orders.-- Reported by Kevin Baker in Jupiter, Fla.
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