The Standard & Poor’s 500 Index rose a second week, the longest advance since September, as investors watched developments in government budget negotiations amid better-than-anticipated economic reports.
Monster Beverage Corp., the largest U.S. energy drink maker by sales volume, rose the most in more than a month after Goldman Sachs Group Inc. said a Food and Drug Administration response to questions over the safety of energy drinks was “encouraging.”
Monster Beverage Corp., the largest U.S. energy drink maker by sales volume, fell at least 10 percent for a second day as Goldman Sachs Group Inc. removed the stock from its conviction buy list and Citigroup Inc. said the argument for a takeover has “evaporated.”
Monster Beverage Corp.’s escalating profit from energy drinks pumped full of caffeine and nitrous oxide may tempt acquirers to chase what would be the most expensive takeover in the industry’s history.
Mead Johnson Nutrition Co. and juice maker Hansen Natural Corp. are among the top candidates for takeovers in the consumer-products industry because of their growth prospects, according to Goldman Sachs Group Inc.