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Coca-Cola had an impressive sales performance in the third quarter. The company’s third-quarter revenues benefited from higher organic sales.
Coca-Cola's (KO) top line in third-quarter 2019 gains from robust volume and pricing on strong demand for Zero Sugar drinks, juices, and tea and coffee. Currency headwinds hurt the bottom line.
(Bloomberg) -- Coca-Cola Co.’s international sales and low-sugar offerings like Coca-Cola Zero Sugar drove brisk revenue growth in the third quarter. Shares rose the most intraday since July.The beverage giant said unit case volume grew by 2%, while net revenue expanded 8% to $9.5 billion. The key metric of organic revenue, which strips out some items like currency effects, jumped 5% -- higher than analysts’ average estimate for a 4.1% gain.Key InsightsAs U.S. consumers increasingly opt for sparkling waters and plant-based milks over sugary beverages, Coke is betting big on offerings in these categories and reported double-digit volume growth in Coca-Cola Zero Sugar in the U.S.Overseas sales have also been a bright spot. The company reported “strong growth” in Minute Maid Pulpy in China and coffee and tea in Japan. And local celebrity endorsements and digital marketing helped the company’s smartwater line become India’s second-largest premium water brand.Coke maintained its projection for 5% organic sales growth this year -- a sign it doesn’t see its performance slowing at the end of the year. The company now expects to spend about $2.2 billion in capital expenditures, up from the prior forecast of $2 billion. The company said on a call that it will provide its full 2020 forecast in February.Market ReactionCoke shares rose as much as 2.4% on Friday. The stock had risen 14% this year through Thursday's close, trailing the S&P 500 Index.Get more on the numbers here.(Adds details from conference call)\--With assistance from Janet Freund and Karen Lin.To contact the reporter on this story: Deena Shanker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Jonathan Roeder, Cécile DauratFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Monster Beverage (MNST) is facing headwinds related to higher freight costs and adverse currency. Nevertheless, its constant product launches and innovations may provide some respite.
Motorola's (MSI) new solution enables law enforcement agencies to connect apparently different crimes to identify patterns, accelerate case closures and improve public safety.
Coca-Cola has lifted guidance for annual revenues and profits after demand for its eponymous drinks brand and new products boosted quarterly results. Shares rose 1.9 per cent in pre-market trading on Friday to $54.81 after the Atlanta-based company said third quarter organic revenues rose 5 per cent. Net income climbed from $1.81bn a year ago to $2.59bn. James Quincey, chief executive, has been leading efforts to diversify Coke beyond its fizzy drink interests into juice, water and other beverages.
Despite severe market volatility, the Dow is still in positive territory with a gain of 15.9% year to date. This is an excellent performance after a disappointing 2018.
Investing.com – Wall Street opened flat on Friday, as upbeat earnings were offset by concerns about slowing global growth.
Investing.com - U.S. futures were tepid on Friday after China posted its weakest growth in nearly three decades, increasing concerns about the impact of its trade dispute with the U.S.
Investing.com - Coca-Cola (NYSE:KO) reported third quarter earnings that matched analysts' expectations on Friday and revenue that topped forecasts.
Investing.com -- China's economy grew at its slowest rate in nearly 30 years in the third quarter, and Boris Johnson is battling to get his Brexit deal through a recalcitrant House of Commons, while Saudi Arabia has postponed the IPO of national company Saudi Aramco - again. Here's what you need to know in financial markets on Friday, 18th October.
Missouri Republican Senator Josh Hawley tells Yahoo Finance's On the Move that Beijing is the biggest security threat to this country in the 21st century
Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch
The GM strike hurt US manufacturing for September while earlier this month, Boeing’s orders fell. Now Trump's 2020 campaign could take a hit.
(Bloomberg) -- General Motors Co. is proceeding with plans to part ways with the massive Ohio car factory it’s operated for more than half a century, all but cementing the facility’s status as a political liability for President Donald Trump.The United Auto Workers couldn’t persuade GM to reconsider its decision to close Lordstown Assembly Plant, the union confirmed Thursday in a document summarizing the contract agreed to yesterday. The fate of the factory has been fodder for Trump’s critics for almost a year, and the attacks are certain to continue on the campaign trail.Two candidates running for the Democratic presidential nomination -- former Texas Congressman Beto O’Rourke and South Bend, Indiana, Mayor Pete Buttigieg -- name-dropped Lordstown during the party’s debate Tuesday. Buttigieg called the closed Chevrolet Cruze plant “one more symbol of the broken promises that this president has made to workers.”GM announced in late 2018 it wouldn’t allocate future product to the plant. The automaker has been in discussions to sell the facility to Lordstown Motors, an affiliate of fledgling electric-truck maker Workhorse Group Inc. While the UAW fought for GM to keep the factory in the fold, it settled for an all-new battery plant that will be built nearby and create about 1,000 jobs. Lordstown Motors plans to create 400 jobs initially, according to GM.But workers at the Lordstown battery factory will be paid less than what vehicle assemblers make, people familiar with the arrangement said. They’ll be compensated under a separate agreement from the master contract UAW members are expected to vote on in the coming weeks, one person said.Union DecisionTrump spoke with UAW President Gary Jones on Wednesday about the tentative agreement. On Thursday, the union’s local presidents and chairman -- roughly 200 officials -- are deciding whether to put the deal to a vote of the entire membership and if workers will return to their jobs before ratification.While its leadership was deliberating, the union released a summary of the four-year contract on its website. It includes offers of $11,000 ratification bonuses for senior workers, $60,000 early retirement buyouts for up to 2,060 employees and annual raises and lump-sum payouts.Republican Senator Rob Portman of Ohio told reporters he was concerned the Lordstown assembly plant wasn’t part of the tentative agreement.“We have earned the right to have a vehicle there by doing the right thing for GM,” Portman said.‘No Place to Go’Union members from Lordstown showed up at the UAW’s meeting in Detroit to protest the fate of their factory.“These people all have families in Lordstown,” said Dan Morgan, shop chairman of UAW Local 1112, which represents the remaining workers. “They put faith in the UAW. If they don’t put a product in there, then they have no place to go.”This could be a big problem for the hundreds of workers in Ohio who didn’t accept GM’s offer to be transferred to the company’s other factories.They may have to find work at the battery facility at less pay, or hope that the possible deal with Lordstown Motors works out. The latter option is a long shot -- the company is led by the founder of Workhorse, which reported just $6,000 of revenue last quarter.GM wants to continue with the sale to Lordstown Motors. If those talks fall apart, GM could either close the factory or put it on standby. The company has put plants on hiatus before and brought them back, including facilities in Spring Hill, Tennessee, and Orion Township, Michigan.‘Don’t Move’GM stopped making the Chevrolet Cruze at Lordstown in March. Soon after, Trump and former Vice President Joe Biden both took shots at the company for not investing in the Ohio community.During a July 2017 rally in nearby Youngstown, Trump told supporters “don’t move, don’t sell your house,” because his administration would bring jobs back to the area.“I’ve met with these members of the UAW who are striking outside of facilities in Cincinnati, in Lordstown, Ohio, which has just been devastated, decimated by GM and their malfeasance,” O’Rourke said Tuesday. “What they want is a shot.”(Updates with details of the agreement starting in the second paragraph.)\--With assistance from Justin Sink and Mark Niquette.To contact the reporter on this story: David Welch in Southfield at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Kara WetzelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While Ford's (F) sales in China fall 30.3% year over year in Q3, Tesla takes the U.K. market by storm with record deliveries of 6,244 vehicles.