Coca-Cola gets the go-ahead for its own energy products, Monster shares sink

Coca-Cola Co. KO, -0.31% announced a decision from the American Arbitration Association that says it can sell Coca-Cola Energy, a line of energy products, without breaking the terms of a contract with Monster Beverage Corp. MNST, +0.41% The announcement sent Monster shares down nearly 3% in Monday premarket trading. Coca-Cola stock inched up 0.5%. “The companies respect the arbitrators’ decision and appreciate that the dispute was resolved amicably,” the announcement said. “While there was a disagreement between Coca-Cola and Monster over contractual language, the companies value their relationship and look forward to their continued partnership.” The arbitrators found that Coca-Cola Energy falls within a non-compete portion of the deal between the two companies. Coca-Cola stock has gained 7.5% for the year to date, Monster shares are up 29.7%. And the Dow Jones Industrial Average DJIA, +0.28% has rallied 14% for the period.

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