Producer prices edged up slightly in July. The Labor Department said that the producer price index rose 0.1% last month, which was in line with economists’ estimates. Prices for food and energy rose 0.2%, but gasoline prices fell 2.1%. July’s number follows a 0.4% increase in June. Producer prices have risen 1.7% in the 12 months through July.
Coca-Cola (KO) is buying a 16.7% stake in energy-drink maker Monster (MNST) for $2.15 billion. As part of the deal, the two companies will swap some brands. Monster will acquire Coke's energy drink brands, while Coke take on Monster's non-energy drink businesses. Coke will also get two seats on Monster's board. In 2012, the companies were reportedly in talks for Coke to takeover Monster.
Sprint's (S) new CEO is making some changes. In a company-wide town hall meeting yesterday, Marcelo Claure reportedly said the company will introduce "very disruptive" prices next week. Light Reading also reported that Claure said he met Apple (AAPL) CEO Tim Cook on his first day as CEO of Sprint. According to the report, Claure said, "Apple will become a crucial part of Sprint."
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