SodaStream Rallies Most Since May After Raising Outlook
SodaStream International Ltd. (SODA), the Israeli maker of home soda machines, surged the most in 11 weeks after boosting its revenue outlook for 2013 and reporting second-quarter earnings that beat analysts’ estimates.
Shares of the Airport City, Israel-based company jumped 15 percent to $67.10 at 10:08 a.m. in New York. The advance pared the stock’s retreat in July to 8 percent, the biggest slump since October.
SodaStream projects 2013 sales to increase about 30 percent to $567.2 million, up from a previous forecast of 27 percent. Sales for the second quarter rose 29 percent to $132.4 million and net income grew 36 percent to $12.9 million.
“Today’s guidance increase is, in our view, a clear signal that the business is healthy, that expectations for the holiday season are positive and that the long term story is on track,” David Kaplan, an analyst at Barclays Plc in Tel Aviv who rates the stock the equivalent of buy, wrote in an e-mailed report.
The company fell to a six-week low in New York on July 9 as the New York Post reported that SodaStream is struggling to attract buyout interest after looking to sell itself for at least three months.
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