Coca Cola Jumps on Merger Reports; Stocks on Track for July Gain

Coca Cola Enterprises (CCE) shot higher on Friday on reports the company is in merger talks with two European bottlers of the soda products.
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Coca Cola Enterprises (CCE) shot higher on Friday on reports the company is in merger talks with two European bottlers of the soda products. A three-way merger would consolidate some of the U.S. company's largest international bottling operations. Stocks were volatile on the final day of trading for July as the energy sector pressured markets. Crude oil was on track for its worst month of the year after falling around 20% over the period. Exxon Mobil (XOM) and Chevron (CVX) were limiting the Dow's gains after disappointing recent quarters. Exxon reported its lowest profit since 2009 and Chevron generated sales one-third lower than a year earlier. Both have been hit hard by the challenge of lower oil prices.