Pepsi, Twitter team up to stream concerts
NEW YORK (AP) -- PepsiCo Inc. is tweeting to a new generation of music lovers.
The No. 2 soda company said Monday that it's partnering with Twitter to provide streaming videos of live concerts to Pepsi's followers on the social networking site. The deal is part of Pepsi's new global ad campaign that will also feature a TV ad with singer Nicki Minaj.
The company, based in Purchase, N.Y., isn't yet saying which musicians will be featured for the Twitter concerts this summer, but the first concert is slated to take place in June. Additional details on the Twitter partnership will be unveiled next week.
Terms of the deal with Twitter were not disclosed.
The marketing push comes as Pepsi looks to revive the cola wars with Coca-Cola Co., with up to $600 million in additional marketing slated for this year.
Investors have criticized Pepsi for letting its namesake soda lose market share to Coca-Cola in recent years.
Rates on Treasurys rise in auction
WASHINGTON (AP) -- Interest rates on short-term Treasury bills rose in Monday's auction, and rates on three-month bills climbed to their highest level since late February.
The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.095 percent, up from 0.08 percent last week. Another $28 billion in six-month bills sold at a discount rate of 0.145 percent, up from 0.13 percent last week.
The three-month rate was the highest since these bills averaged 0.115 percent Feb. 27. The six-month rate was the highest since these bills averaged 0.15 percent April 9.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.60, while a six-month bill sold for $9,992.67. That equals an annualized rate of 0.096 percent for the three-month bills and 0.147 percent for the six-month bills.
Talk of Coke's interest buoys Monster's stocks
Monster Beverage Corp.'s shares soared Monday following a report that Coca-Cola Co. was considering buying the energy drink maker, but the world's biggest soft drink maker later denied that discussions are under way.
The Wall Street Journal cited unnamed people in reporting that Coca-Cola was in talks to buy Monster.
If a deal took place, Monster would be Coca-Cola's largest brand acquisition.
Coca-Cola said late Monday that no such discussion is under way.
Shares of Monster spiked early in the day to a record high of $83.96, which was 27 percent above the previous 52-week trading high of $65.94, reached last week. The stock closed down 53 cents, however, at $65.
Shares of Coca-Cola, based in Atlanta, fell 31 cents to close at $76.32.
Astronics renews deal for aircraft systems
Astronics Corp. has signed a multiyear deal to extend its agreement to supply Panasonic Avionics Corp. with aircraft in-seat power and in-flight entertainment systems.
The East Aurora aircraft lighting and electronics systems maker has been supplying in-seat power and entertainment products to Panasonic under a series of deals going back to 2005.
The latest master supply agreement, announced Monday, extends a relationship that has become a key source of sales for Astronics' aircraft electronics business in Washington State.