NEW YORK (TheStreet) -- Coca-Cola Enterprises (CCE) stock is surging 14.57% to $52.06 on heavy trading volume on Friday morning after reports stated the company is in talks to merger with two other Coca-Cola (KO) - Get Report bottlers in Europe.

The company, which bottles and distributes Coca-Cola products in Western Europe, is discussing a possible multi-billion dollar deal with Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke, The Wall Street Journal reports.

Coca-Cola Enterprises and Coca-Cola Iberian Partners are independent from Coca-Cola, while Coca-Cola Erfrischungsgetränke is a Coca-Cola subsidiary doing business in Germany.

Additionally, Coca-Cola Enterprises reported better than expected earnings results for the second quarter of 2015 on Thursday before the market open. 

The company posted earnings of 79 cents per share on revenue of $1.93 billion for the 2015 second quarter.

Coca-Cola Enterprises was expected to report earnings of 76 cents per share on revenue of $1.89 billion, according to analysts surveyed by Thomson Reuters.

Last year, the company had earnings of 90 cents per share on revenue of $2.33 billion for the second quarter.

Separately, TheStreet Ratings team rates COCA-COLA ENTERPRISES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate COCA-COLA ENTERPRISES INC (CCE) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: CCE Ratings Report

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