US Stock Market Move | Monster Beverage Corporation (MNST.US) rises over 8% on strong demand for energy drinks, Q3 earnings exceed expectations.

On Friday, Monster Beverage Corporation (MNST.US) rose more than 8%, closing at $72.04. In terms of news, Monster Beverage Corporation reported an adjusted earnings per share of $0.56 for the third quarter, higher than FactSet's estimate of $0.48. Net sales were $2.19 billion, exceeding market expectations by $90 million. The third quarter gross profit margin expanded by 2.5% to 55.7%, higher than market expectations of 1.6%, benefiting from strong demand for energy drinks.