Coca Cola (KO) Reported a 1c EPS Beat; UBS Raises Price Target to $49
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Market Wrap: Citron Slams Valeant; Biden Pulls Out of Presidential Race; Twitter Clipps on Downgrade
October 21, 2015 5:28 PM EDTMarket wrap for October 21st
End of the Day: S&P 500 down 11.8 to 2,018.94; Dow Jones down 48.5 to 17,168.61; Nasdaq down 40.9 to 4,840.12
Market Brief: Markets were largely mixed most of Wednesday's trading session, but ended lower as the slump in Valeant shares weighed on the pharmaceutical segment.
Joe Biden said he wouldn't be running for U.S. president.
Western Digital affirmed recent speculation and announced a deal to acquire SanDisk.
CIT CEO John Thain announced his retirement.
Several key earnings announcements... More
Coca-Cola warns of bigger hit on revenue from strong dollar
October 21, 2015 7:40 AM EDTBy Anjali Athavaley and Sruthi Ramakrishnan
(Reuters) - Coca-Cola Co (NYSE: KO) reported a bigger-than-expected drop in quarterly sales due to a strong dollar, and the company said it expected the currency to hurt its full-year revenue more than previously anticipated.
The soda maker, which gets more than half of its total revenue from markets outside North America, said a strong dollar would lower its full-year revenue by 7 percentage points compared with 6 percentage points estimated earlier.
The dollar has risen 12 percent against a basket of major currencies in the past year.
... MoreCoca Cola (KO) Tops Q3 EPS by 1c
October 21, 2015 7:31 AM EDTCoca Cola (NYSE: KO) reported Q3 EPS of $0.51, $0.01 better than the analyst estimate of $0.50. Revenue for the quarter came in at $11.43 billion versus the consensus estimate of $11.54 billion.
Reported net revenue declined 5% and organic revenue grew 3%Global price/mix of 3% reflecting positive pricing and packaging initiatives across key marketsReported EPS was $0.33 and comparable EPS was... MoreTrading Radar for 10/21: Coca Cola (KO), GM (GM), AmEx (AXP), Boeing (BA), Kimberly-Clark (KMB) Report
October 20, 2015 2:40 PM EDTThe Trading Radar highlights key earnings and economic announcements for the next trading session:
Before Markets Open:
Economics:
7:00am EDT
Earnings:
A.O. Smith (NYSE: AOS) - consensus EPS $0.79
ABB Ltd. (NYSE: ABB) - consensus EPS $0.28
ARM Holdings plc (NYSE: ARMH) - consensus EPS $0.36
Abbott (NYSE: ABT) - consensus EPS $0.54
Amphenol (NYSE: APH)... More
