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Monster Tumbles After Coca-Cola Deal Forces Costly Changes

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Monster Beverage Corp. shares declined the most in more than two years after its distribution deal with Coca-Cola Co. took a toll on profit in the first quarter, when the company had to cancel contracts with other partners.

Net income fell to $4.41 million, or 3 cents a share, from $95.3 million, or 55 cents, a year earlier, the Corona, California-based company said on Thursday. Excluding some items, earnings amounted to 62 cents a share. Analysts predicted 68 cents, according to data compiled by Bloomberg.