Short interest for Coca-Cola gives investors a sense of the degree to which investors are betting on the decline of Coca-Cola's stock. Short interest data is updated every two weeks.

Coca-Cola Stock (NYSE:KO), Short Interest Report

Coca-Cola

Founded in 1886, Atlanta-headquartered Coca-Cola is the world's largest nonalcoholic beverage company, with a strong portfolio of 200 brands covering key categories including carbonated soft drinks, water, sports, energy, juice, and coffee. Together with bottlers and distribution partners, the company sells finished beverage products bearing Coca-Cola and licensed brands through retailers and food-service locations in more than 200 countries and regions globally. Coca-Cola generates around two thirds of its total revenues overseas, with a significant portion from emerging economies in Latin America and Asia-Pacific.

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Goldman Sachs maintains a Neutral rating on KO with a $60.00 price target. Analyst Bonnie Herzog highlights KO&#39;s robust Q1 organic revenue growth of 11%, exceeding expectations. Despite this, limited EPS growth potential might weigh on the stock in the near term, notes the analyst. Truist and BofA Securities analysts reiterate Buy rating.

Coca-Cola&#39;s Refreshing Results: Analysts Bullish Despite Near-Term Concerns

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The Coca-Cola Company (NYSE: KO) has reported first-quarter 2024 results, where in the top and bottom lines surpassed the Zacks Consensus Estimate and improved year over year. The company&#39;s results have benefited from its continued business momentum.

Coca-Cola Tops on Q1 Earnings &amp; Revenues, Raises View

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Yesterday,&nbsp;Coca-Cola Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported first-quarter FY24 sales growth of 3% year-on-year to $11.3 billion, beating the analyst consensus estimate of $11.01 billion.&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38519595/coca-colas-bottom-line-bubbles-up-company-raises-fy24-revenue-projections" rel="noreferrer noopener">Adjusted EPS of $0.72 came in above street view</a>.
The following are the comments from various analysts on the company&#8217;s first-quarter earnings performance.
Goldman Sachs&nbsp;&#8211; Reiterates Neutral, $60.00 price target
Analyst Bonnie Herzog said KO delivered an impressive start to the year with solid organic revenue growth of 11%, handily outpacing expectations.
The strong topline growth, coupled with some benefits from bottler re-franchising and underlying gross margin expansion, helped drive&nbsp;strong gross&nbsp;margin expansion, said the analyst.
Given the strong quarter, KO updated its FY24 guidance and now expects organic revenue growth of +8-9% and f/x-neutral EPS growth of +11-13%, which are&nbsp;quite&nbsp;strong relative to its peers.
Meanwhile, the analyst noted KO&#8217;s ability to generate faster dollar EPS growth this year is somewhat limited, which could weigh on the stock in the near term.&nbsp;
The analyst noted that North American volumes&nbsp;sequentially improved in the last two months of the first quarter&nbsp;as consumer elasticities remained resilient.
The analyst expects KO&#8217;s organic topline growth this year to be more balanced between volume and price/mix. However, the analyst noted the company&#8217;s organic sales guidance should be doable but could prove challenging given the difficult operating/macro environment.
KO&#8217;s stepped-up marketing spend is the right one to help drive healthy, sustainable long-term growth, said the analyst.
BofA Securities&nbsp;&#8211; Reiterates Buy, $68.00 price target
Analyst Bryan D. Spillane said KO led off with +11% organic sales to start FY24. Argentina was a benefit to pricing but a drag on unit case volume.
The analyst expects elevated pricing in Latam and EMEA markets through the year, albeit at a far more moderate pace than in&nbsp;first-quarter&nbsp;that should enable an inflection back to concentrate volume growth.
The analyst expects the second quarter YoY gross margin to benefit from bottler re-franchising and expand +120bps, with resilient&nbsp;profitability in&nbsp;North America and Asia-Pacific.
KO&#8217;s pricing power, which drove organic sales beats across all other geographic segments&nbsp;as well&nbsp;lends some reassurance that reiterated $2.80-2.82 EPS guide can be achieved, even amid the dynamic operating environment, said the analyst.
Truist&nbsp;Securities&nbsp;&#8211; Reiterates Buy, $65.00 price target
Analyst Bill Chappell has raised FY24 and FY25 sales and FY25 EPS estimates following the earnings.
FY24 and FY25 sales estimates&nbsp;are pumped&nbsp;to $46.282 billion and $48.380 billion (from $45.856 billion and $47.924 billion, respectively), and FY25 adj. EPS estimate to $3.03 from $3.00.
Investors can gain exposure&nbsp;Coca-Cola&nbsp;stock via&nbsp;IShares U.S. Consumer Staples ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYK#NYSE">IYK</a>) and&nbsp;Vanguard Total Stock Market Index Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: KO shares are trading higher by 1.08% at $62.44 at the last check Wednesday.
Image: Shutterstock/ 360b

Coca-Cola's Refreshing Results: Analysts Bullish Despite Near-Term Concerns

UBS analyst Peter Grom maintains Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) with a Buy and raises the price target from $70 to $72.

UBS Maintains Buy on Coca-Cola, Raises Price Target to $72

Evercore ISI Group analyst Robert Ottenstein maintains Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) with a Outperform and raises the price target from $67 to $70.

Evercore ISI Group Maintains Outperform on Coca-Cola, Raises Price Target to $70

JP Morgan analyst Andrea Teixeira maintains Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) with a Overweight and raises the price target from $65 to $68.

JP Morgan Maintains Overweight on Coca-Cola, Raises Price Target to $68

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index dipping more than 550 points during the session. All three major indices recorded losses in April, ending a streak of five consecutive months of gains. The Dow dipped 5% to record its weakest monthly performance since Sept. 2022, while the S&amp;P 500 tumbled around 4.2% last month.
Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported better-than-expected first-quarter results on Tuesday, while McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) reported mixed first-quarter results. 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) reported better-than-expected first-quarter 2024 results.
On the economic data front, the Labor Department said the employment cost index rose 1.2% in the first quarter, higher than market estimates of 1%. The S&amp;P CoreLogic Case-Shiller 20-city home price index rose by 7.3% year-over-year in February. The US Federal Reserve will announce its latest interest rate decision on Wednesday.
All sectors on the S&amp;P 500 closed on a negative note, with energy, information technology and consumer discretionary stocks recording the biggest losses on Tuesday
The Dow Jones closed lower by around 570 points to 37,815.92 on Tuesday. The S&amp;P 500 fell 1.57% at 5,035.69, while the Nasdaq Composite dipped 2.04% at 15,657.82 during Tuesday's session.
Investors are awaiting earnings results from Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) today.
At a current reading of 40.5, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 43.7.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/04/38520037/jim-cramer-rejects-illumina-as-its-not-well-run-recommends-buying-this-tech-stock-right-here-right-n">Jim Cramer Rejects Illumina As &#8216;It&#8217;s Not Well-Run,&#8217; Recommends Buying This Tech Stock &#8216;Right Here, Right Now&#8217;</a>

The Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>) has reported first-quarter 2024 results, where in the top and bottom lines surpassed the Zacks Consensus Estimate and improved year over year. The company&#39;s results have benefited from its continued business momentum. Backed by the strong results, KO has raised its view for 2024. 
Comparable earnings of 72 cents per share rose 7% from the year-ago period and beat the Zacks Consensus Estimate of 69 cents. Unfavorable currency translations hurt comparable earnings by 9 percentage points. Comparable currency-neutral earnings per share rose 15% year over year. 
Revenues of $11,300 million surpassed the Zacks Consensus Estimate of $10,948 million and improved 3% year over year. Organic revenues rose 11% from the prior-year quarter. Coca-Cola&#39;s top line benefited from strong revenue growth across most of its operating segments, aided by an improved price/mix, offset by a decline in concentrate sales. In the reported quarter, Coca-Cola gained a global value share in the total non-alcoholic ready-to-drink beverages. 
The Zacks Rank #3 (Hold) stock has risen 5.2% in the year-to-date period compared with the industry&#39;s growth of 3.1%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f6/65906.jpg?v=408529735" /> 
Image Source: Zacks Investment Research
<h3>Volume &amp; Pricing</h3>
In the reported quarter, concentrate sales dipped 2% year over year, whereas the price/mix improved 13%. The price/mix benefited from pricing actions in the marketplace and a favorable mix. In the quarter, concentrate sales were 3 points lower than the unit case volume. The decline was driven by the timing of concentrate shipments and the impacts of one less day in the quarter. 
Coca-Cola&#39;s total unit case volume increased 1% year over year in the first quarter. The unit case volume for the developed markets was flat with the prior-year quarter. The volumes for the developing and emerging markets improved in the low-single digits on growth in Brazil, the Philippines and Nigeria. 
Our model had predicted year-over-year organic revenue growth of 6.4% for the first quarter, with a 6.8% gain from the price/mix and a 0.4% decline in the concentrate sales volume. 
Coming to the category cluster performance, the unit case volume increased 2% year over year for sparkling soft drinks. The sparkling soft drinks category benefited from growth in Latin America. The trademark Coca-Cola reported 2% growth in volumes, whereas Coca-Cola Zero Sugar witnessed a 6% rise. Meanwhile, the sparkling flavors category was flat year over year due to gains in EMEA and Latin America, offset by a decline in the Asia Pacific. 
Volumes for juice, value-added dairy and plant-based beverages were up 2% in the first quarter, aided by growth in North America. 
Unit volumes for the water, sports, coffee and tea category declined 2% year over year in the first quarter. Coca-Cola witnessed a 2% volume decline in the water category, driven by gains in the Asia Pacific and North America. Sports drinks fell 3% driven by decline in North America, which was partly offset by growth in Latin America and EMEA. The coffee business declined 3% due to a soft Costa coffee performance in the U.K. The tea volume improved 2% on growth in Latin America and EMEA.
<div class="chart_embed">
<h3>CocaCola Company (The) Price, Consensus and EPS Surprise</h3>
&nbsp;
<a href="https://www.zacks.com/stock/chart/KO/price-consensus-eps-surprise-chart?icid=chart-KO-price-consensus-eps-surprise-chart"><img alt="CocaCola Company (The) Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/43/1714486522.png" style="height:265px; width:574px" title="" /> </a>
CocaCola Company (The) price-consensus-eps-surprise-chart | CocaCola Company (The) Quote
</div>
<h3>Segmental Details</h3>
Revenues rose 10% year over year for Latin America, 7% each for North America and the Asia Pacific, and 3% for Global Ventures. However, revenues declined 3% for EMEA and 7% for Bottling Investments.&nbsp; 
Organic revenues improved 15% year over year in EMEA, 22% in Latin America, 7% each in North America and the Asia Pacific, 1% in Global Ventures, and 13% in Bottling Investments.
<h3>Margins</h3>
In dollar terms, the operating income declined 36% year over year to $2,141 million, including an 8-point impact of currency headwinds. Comparable operating income rose 4.4% year over year. Comparable currency-neutral operating income advanced 13% on strong organic revenue growth across all segments, offset by higher marketing investments. 
The operating margin of 18.9% in the first quarter contracted significantly from 30.7% in the prior-year quarter. The comparable operating margin expanded 60 bps to 32.4%. 
Our model had predicted the first-quarter adjusted operating margin to expand 50 bps year over year to 32.3% on 50-bps growth in the gross margin.
<h3>Guidance</h3>
Management has raised its view for 2024. It anticipates organic revenue growth of 8-9% for 2024 compared with 6-7% growth mentioned earlier. Comparable net revenues are expected to include a 4-5% currency headwind based on current rates and hedge positions. The guidance includes a 4-5% negative impact of acquisitions, divestitures and structural changes. 
The company anticipates an underlying effective tax rate of 19% for 2024 versus 19.2% stated earlier. 
Comparable currency-neutral earnings per share are estimated to increase 11-13% year over year compared with the prior mentioned 8-10% growth. The company anticipates year-over-year comparable earnings per share growth of 4-5% for 2024. Comparable earnings per share growth is likely to include a headwind of 7-8% from currency and a 2% headwind from acquisitions, divestitures and structural changes. The company expects most of the currency headwinds to result from currency devaluation due to intense inflation. 
Management envisions an adjusted free cash flow of $9.2 billion for 2024, including $11.4 billion in cash flow from operations. Capital expenditure is likely to be $2.2 billion. 
For second-quarter 2024, comparable revenues are expected to include a 6% currency headwind, and a 5-6% negative impact of acquisitions, divestitures and structural changes. Comparable earnings per share are estimated to include a currency headwind of 8-9%, and a 2% negative impact of acquisitions, divestitures and structural changes.
<h3>Stocks to Consider</h3>
We have highlighted three better-ranked stocks from the Consumer Staple sector, namely PepsiCo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>), Coca-Cola FEMSA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kof#NYSE">KOF</a>) and Vita Coco Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coco#NASDAQ">COCO</a>). 
PepsiCo currently has a Zacks Rank #2 (Buy). PEP shares have risen 3.7% in the year-to-date period. The company has a trailing four-quarter earnings surprise of 5.1%, on average. 
The Zacks Consensus Estimate for PepsiCo&#39;s current financial-year sales and earnings suggests growth of 3.4% and 7.1%, respectively, from the year-ago period&#39;s reported figures. 
Coca-Cola FEMSA currently carries a Zacks Rank #2. KOF shares have gained 6.4% in the year-to-date period. 
The Zacks Consensus Estimate for Coca-Cola FEMSA&#39;s current financial-year sales and EPS suggests growth of 10.7% and 25.1%, respectively, from the year-ago period&#39;s reported figures. KOF has a trailing four-quarter negative earnings surprise of 1.3%, on average. 
Vita Coco has a trailing four-quarter earnings surprise of 31.3%, on average. It currently carries a Zacks Rank #2. COCO shares have declined 2.1% year to date. 
The Zacks Consensus Estimate for Vita Coco&#39;s current financial-year sales and earnings suggests growth of 1.8% and 24.3%, respectively, from the year-ago period&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2265373/coca-cola-ko-tops-on-q1-earnings-revenues-raises-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2265373">To read this article on Zacks.com click here.</a>

Coca-Cola Tops on Q1 Earnings & Revenues, Raises View

A trio of earnings reports Tuesday morning may have given us a glimpse into how Americans&#8217; consumption habits are shifting. Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), which makes Mounjaro, one of the leading weight-loss drugs in the United States, beat EPS estimates and also raised its 2024 revenue guidance, <a href="https://www.benzinga.com/general/biotech/24/04/38521126/eli-lillys-weight-loss-drug-still-going-strong-boosts-annual-forecast">sending the stock higher.</a> Meanwhile, both McDonald's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) each reported underwhelming quarters, sending their respective stocks lower. Weight-loss drugs, like Ozempic, Wegovy and Mounjaro, have swept through the country, quadrupling the number of prescriptions to more than 8 million last year. This means that almost 2.5% of all Americans were prescribed some form of weight-loss medication. Read Also: <a href="https://www.benzinga.com/news/24/04/38523584/eli-lilly-increases-fy24-outlook-joins-brinker-international-zebra-technologies-3m-and-other-big-sto">Eli Lilly Increases FY24 Outlook, Joins Brinker International, Zebra Technologies, 3M And Other Big Stocks Moving Higher On Tuesday</a>
Because of the drugs' impact on limiting appetite, it's safe to assume that some people may eat fewer burgers and fries from McDonald's and other fast-food chains. Undergoing weight-loss treatment through expensive medication may also incentivize patients to cut out unnecessary calories like the ones found in soda. 
One market expert, Chris Versace, host of the Thematic Signals podcast, said it's still too early to determine whether weight-loss drugs directly impact McDonald's sales volume. But, Versace points out that markets tend to be a ‘forward-looking animal'. If the adoption of weight-loss drugs continues to grow, the impact on ‘junk food' stocks like McDonald's and Coca-Cola could be more significant. "So it&#8217;s hard to measure, right? So far we haven&#8217;t really seen any results. But as we know, the market tends to be a forward-looking animal," <a href="https://www.thestreet.com/investing/stocks/ozempic-isnt-reason-sell-stocks-pepsico-mcdonalds">Versace said</a>, as reported by TheStreet. "So it&#8217;s saying to itself, geez, what could this be possibly in 12, 18, 24 months? And the issue is that when we see forecasts and expectations like this, they tend to get ahead of themselves, and I think that&#8217;s exactly what&#8217;s happening here again."
The Bottom Line: Weight-loss drugs appear to be continuing to trend upward, while McDonald's and Coca-Cola are lacking growth. Other issues, like inflation, could also be negatively effecting sales from fast-food companies with lower-income customers most impacted. 
Now Read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">Breaking: DEA Reportedly Moves To Reschedule Cannabis, Stocks Rise Sharply On The News</a>
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Americans Swap $5 Burgers For $1,000 Weight Loss Drugs — Is Soda Getting Left Behind Too?

Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve&#8217;s potentially hawkish <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">pivot in Wednesday&#8217;s meeting. </a>
The S&amp;P 500 retraced 0.9% after a 2-day positive streak, with the tech-heavy Nasdaq 100 slightly underperforming, down 1.1%. Small caps suffered larger losses, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1.5%. 
The stock market faced renewed pressure as economic data revealed a decline in consumer confidence and persistent wage pressures, putting further pressures on the Federal Reserve. 
The Bureau of Labor Statistics reported a 1.2% increase in the employment cost index for the first quarter of 2024, surpassing market expectations of 1% growth and accelerating from the previous three-month period&#8217;s 0.9% rise. In April, the Conference Board consumer confidence index dropped from 103.1 to 97 points, falling short of forecasts for a rise to 104.
Bonds provided little refuge to investors as yields surged in response to comments from U.S. Treasury Secretary Janet Yellen, who voiced concerns about the deficit trajectory and proposed substantial measures to address budgetary gaps.
Yields on the 2-year Treasury note breached the psychological 5% threshold, aiming for the highest close since mid-November 2023. The U.S. dollar index (DXY), as tracked Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.6%. 
Gold tumbled 1.7%, pressured by higher yields and stronger greenback. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plummeted over 5%, on track for its worst daily performance in four weeks amid weak sentiment on cryptocurrencies. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,070.03</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,992.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,588.95</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,982.84</td>
<td>-1.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:39 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.9% to $505.30, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.1% to $379.75 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $428.01, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.1%, marking the sole positive performance among the eleven S&amp;P 500 sectors. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 2.1%.
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 5%, following a 15% surge Monday on the heels of news potentially clearing the full self-driving service in China. Goldman Sachs tempered some of the excitement in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off">a note on Tuesday. </a></li>
<li>Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose 4.6%, its strongest one-day gain since early February, as the pharmaceutical giant hiked 2024 revenue forecast. </li>
<li>Other stocks reacting to earnings were Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 0.5%; McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.2%; Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 3%; Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.5%; Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>), up 5.7%; PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 1.2%; 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), up 3.2%; Arch Capital Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>), up 2.8% and GE Healthcare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), down 13.4%. </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell 4.2% on news that the company will delist from European exchanges. </li>
<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) fell 9.3%, hitting the lowest level since February 2009, after reports that the company could lose NBA TV rights to rival Comcast Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc., ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Renaissancere Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), Clorox Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38526697/paramount-could-be-worth-4-or-14-per-share-in-deal-analyst-says-we-prefer-to-sit-th">Paramount Could Be Worth $4 Or $14 Per Share In Deal, Analyst Says: &#8216;We Prefer To Sit This One Out&#8217;</a>
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Stocks Dive On Fears Of Hawkish Fed; Treasury Yields Rise, Bitcoin Tumbles To $60,000: What's Driving Markets Tuesday?

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Tuesday.
The Dow traded down 0.81% to 38,073.65 while the NASDAQ fell 0.80% to 15,855.75. The S&amp;P 500 also fell, dropping, 0.70% to 5,080.52.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38489087/jim-cramer-likes-palantir-recommends-pioneer-natural-resources-i-want-you-to-ka-ching-ka-ching"> Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: &#8216;I Want You To Ka-Ching, Ka-Ching&#8217;</a>
Leading and Lagging Sectors Health care shares rose by 0.1% on Tuesday.
In trading on Tuesday, energy shares fell by 1.6%.
Top Headline
Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported better-than-expected first-quarter results on Tuesday.
Coca-Cola reported first-quarter FY24 sales growth of 3% year-on-year to $11.3 billion, beating the analyst consensus estimate of $11.01 billion. Adjusted EPS of 72 cents beat the consensus estimate of 70 cents.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Akili, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKLI#NASDAQ">AKLI</a>) shares shot up 66% to $0.3956 after the company announced Shionogi has canceled and forgiven a $5.0 million long-term debt obligation and agreed to make certain payments for SDT-001.</li>
<li>Shares of AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) got a boost, surging 44% to $3.38 after the company highlighted plans for its previously-announced merger with Triller.</li>
<li>Global Mofy Metaverse Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMM#NASDAQ">GMM</a>) shares were also up, gaining 54% to $1.43 after the company&#8217;s Gauss AI teamed with Heartdub to develop the Gausspeed generative AI platform.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) shares dropped 26% to $5.34 after the company reported first-quarter financial results. Also, Piper Sandler reiterated an Underweight rating on the stock and lowered its price target from $8.5 to $6.</li>
<li>Shares of Vince Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNCE#NYSE">VNCE</a>) were down 24% to $1.60 after the company posted fourth-quarter results.</li>
<li>Medifast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MED#NYSE">MED</a>) was down, falling 23% to $27.41 after the company reported mixed first-quarter financial results.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38518458/dominos-pizza-to-rally-over-10-here-are-10-top-analyst-forecasts-for-tuesday">Domino&#8217;s Pizza To Rally Over 10%? Here Are 10 Top Analyst Forecasts For Tuesday</a>
Commodities In commodity news, oil traded down 0.9% to $81.88 while gold traded down 2.1% at $2,308.20.
Silver traded down 3.6% to $26.675 on Tuesday, while copper fell 2.5% to $4.5620.
Euro zone
European shares were lower today. The eurozone's STOXX 600 slipped 0.68%, London's FTSE 100 fell 0.04% while Spain's IBEX 35 Index fell 2.22% The German DAX fell 1.03% French CAC 40 fell 0.99% while Italy's FTSE MIB Index fell 1.60%.
The annual inflation rate in the eurozone remained at 2.4% in April, in line with market estimates, while annual inflation rate in Italy slowed to 0.9% in April from 1.2% in the prior month. The annual inflation rate in France slowed to 2.2% in April from 2.3% in March, while producer prices in France declined 0.2% month-over-month in March. The French economy expanded by 0.2% quarter-over-quarter in the first quarter.
Consumer credit in the UK increased by £1.577 billion in March versus a revised £1.429 billion in the previous month. German economy grew by 0.2% in the first quarter following a 0.5% contraction in the prior period, while jobless rate in Germany remained at 5.9%for the fifth straight month in April. German retail sales rose by 1.8% month-over-month during March.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 adding 1.24%, Hong Kong's Hang Seng Index gaining 0.09%, China's Shanghai Composite falling 0.26% and India's S&amp;P BSE Sensex falling 0.25%.
Japan&#8217;s housing starts fell by 12.8% year-over-year in March following an 8.2% decline in the previous month. Retail sales in Japan climbed 1.2% year-over-year in March, while industrial production in rose 3.8% month-over-month in March.
The Caixin China General Manufacturing PMI rose to 51.4 in April versus 51.1 a month ago, while official NBS Manufacturing PMI declined to 50.4 in April from 50.8 in March.
Economics
<ul>
<li>The Chicago Business Barometer fell to 37.9 in April from 41.4 in the previous month.</li>
<li>The FHFA house price index rose 1.2% in February.</li>
<li>The S&amp;P CoreLogic Case-Shiller 20-city home price index rose by 7.3% year-over-year in February.</li>
<li>Compensation costs for civilian workers climbed by 1.2% during the first quarter.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38520037/jim-cramer-rejects-illumina-as-its-not-well-run-recommends-buying-this-tech-stock-right-here-right-n">Jim Cramer Rejects Illumina As &#8216;It&#8217;s Not Well-Run,&#8217; Recommends Buying This Tech Stock &#8216;Right Here, Right Now&#8217; </a>

Eurozone

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Nasdaq Dips Over 100 Points; Coca-Cola Earnings Top Views

Coca-Cola Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported first-quarter FY24 sales growth of 3% year-on-year to $11.3 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38514313/coca-cola-reports-first-quarter-2024-results-and-provides-updated-guidance" rel="noreferrer noopener">beating the analyst consensus estimate of $11.01 billion</a>.
Revenue performance included a 2% decline in concentrate sales and a 13% growth in price/mix. Unit case volume grew 1% in the quarter. Organic revenues increased 11%.
Coca-Cola&#8217;s organic revenue in Europe,&nbsp;Middle&nbsp;East&nbsp;and&nbsp;Africa rose 15% in the first quarter, while&nbsp;in North America,&nbsp;it increased 7%.
Gross profit rose 6% to $7.065 billion with a profit margin of 62.5%. The operating margin contracted 1,180 basis points to 18.9%, while the comparable operating margin gained 60 basis points to 32.4%. 
Operating income for the quarter decreased 36% to $2.14 billion. Adjusted EPS of $0.72 <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">beat the consensus estimate of $0.70.</a>
Operating cash flow generated for the quarter was $528 million, an increase of $368 million from the prior year. Free cash flow totaled $158 million. KO held $16.9 billion in cash and equivalents as of March 29.
Outlook: Coca-Cola raised its FY24 organic revenue growth outlook from 6%-7% to 8%-9%. KO raised comparable currency neutral EPS growth outlook from 8%-10% to 11%-13% and <a href="https://www.benzinga.com/calendars/guidance">continues to see comparable EPS growth of 4%-5% versus $2.69 in 2023.</a>
Coca-Cola still expects to generate free cash flow (non-GAAP) of approximately $9.2 billion through cash flow from operations of&nbsp;approximately&nbsp;$11.4 billion, less capital expenditures of&nbsp;approximately&nbsp;$2.2 billion.
Price Action: KO shares are trading lower by 0.18% at $61.93 in premarket at the last check Tuesday.
Photo by Alessandro D&#8217;Antonio via Unsplash

Guidance

Coca-Cola's Bottom Line Bubbles Up, Company Raises FY24 Revenue Projections

Coca-Cola CFO Says Unclear How Long Impact From Middle East Conflict Will Last

Coca-Cola CEO Says In China Retail Sales Growth Continues To Improve But Consumer Confidence Still Below 2019 Levels; Geopolitical And Economic Challenges In Eurasia And Middle East Continue To Affect Business In Region; North America Volume Had A Slow Start In Q1 Before Posting Sequential Improvement

Coca-Cola Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is reportedly preparing for a potential public offering of its African bottling arm, which had previously&nbsp;been postponed.&nbsp;
The company is considering a dual listing for Coca-Cola Beverages Africa in Johannesburg and Amsterdam, aiming for a business valuation exceeding $8 billion, according to a <a href="https://www.bloomberg.com/news/articles/2024-04-29/coca-cola-gears-up-for-ipo-of-8-billion-africa-bottling-arm?srnd=industries-v2&amp;sref=TBDibEcD">report </a>from Bloomberg, citing sources familiar with the matter.
Currently, Coca-Cola holds a 66.5% stake in the bottling unit, with the remaining 33.5% owned by Gutsche Family Investments.&nbsp;
Discussions regarding the IPO are in&nbsp;early&nbsp;stages, and specifics of the offering might undergo alterations, noted the report.
Coca-Cola spokesperson reportedly refrained from detailed comments, reiterating commitment to the IPO plan when market conditions improve.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/trading-ideas/previews/24/04/38498398/coca-cola-q1-earnings-preview-will-beverage-giant-beat-revenue-estimates-for-13th-straight" rel="noreferrer noopener">Coca-Cola Q1 Earnings Preview: Will Beverage Giant Beat Revenue Estimates For 13th Straight Quarter?</a>
In 2021, Coca-Cola initially declared its plan to divest a portion of its shareholding in the unit through an IPO, but&nbsp;the initiative was postponed&nbsp;the subsequent year.
Coca-Cola Beverages Africa ranks eighth among Coca-Cola bottlers globally by revenue and dominates African markets, the report added.
The unit covers approximately 15 African countries, including Kenya, Ethiopia, Namibia, and Tanzania, employing over 18,000 individuals.
Coca-Cola stock lost more than 3% in the last 12 months. Investors can&nbsp;gain access to&nbsp;the stock via&nbsp;Vanguard Total Stock Market Index Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>) and&nbsp;IShares U.S. Consumer Staples ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYK#NYSE">IYK</a>).
Read Next:<a target="_blank" href="https://www.benzinga.com/news/24/04/38142749/food-giants-pivot-to-discounts-and-new-sizes-amid-decreased-spending-by-low-income-americans" rel="noreferrer noopener">&nbsp;Food Giants Pivot To Discounts And New Sizes Amid Decreased Spending by Low-Income Americans</a>
Price Action: KO shares are trading lower by 0.47% at $61.75 in premarket at&nbsp;the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

Coca-Cola Contemplates $8B IPO For African Bottling Unit: Report

WIIM

Coca-Cola shares are trading lower, reversing after gaining on better-than-expected Q1 financial results.

Coca-Cola shares are trading higher following better-than-expected Q1 financial results.

Coca-Cola Sees FY24 Organic Revenue Growth Of 8-9%, Expects To Generate Free Cash Flow Of ~$9.2B Through Cash Flow From Operations Of $11.4B, Less Capex Of $2.2B

U.S. stocks appear&nbsp;to be&nbsp;on the back foot early on Tuesday, with index futures trading modestly lower in early pre-market activity. Caution&nbsp;reigns supreme as traders anxiously await the Federal Reserve&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508875/another-rate-hike-coming-in-2024-macquarie-economists-reverse-forecast-warn-of-incr" rel="noreferrer noopener">interest rate decision</a>&nbsp;on Wednesday.&nbsp;A&nbsp;hawkish stance, either&nbsp;in the post-meeting policy statement or Fed Chair Jerome Powell&#8217;s remarks,&nbsp;could trigger a market pullback.&nbsp;&nbsp;However, recent scorching inflation data has already tempered market expectations for rate cuts.
Adding to the market&#8217;s volatility, the busy earnings season commences this week. Company&nbsp;results and their outlooks for the future could significantly impact stock prices.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.51%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.20% to $509.27,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $432.27, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From The Last Session:
Stocks closed Monday&#8217;s session on a positive note, although trading was marked by some degree of volatility. The major indices opened the session higher, as the positive momentum from Friday carried over into the new week, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading from the front. They stayed above the unchanged line for the better part of the morning before reversing course in late afternoon trading.
While apprehension ahead of the week&#8217;s key earnings and data was attributed to the weakness, the stock recovered thereafter to close higher for a second straight session. Market participants also blamed the intraday slide on an increase in the U.S. Treasury&#8217;s June quarter borrowing estimates.
The gains were led by consumer discretionary stocks, while communication services stocks dragged.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.35%</td>
<td>15,983.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.32%</td>
<td>5,116.17</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.38%</td>
<td>38,386.09</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.70%</td>
<td>2,016.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ahead of the Fed meeting, Wharton Professor Jeremy Siegel, Senior Economist to&nbsp;WisdomTree, said in his weekly commentary, that the market is currently pricing in only slim chances of rate cuts this year. On Wednesday, the economist expects Powell to repeat the rhetoric that the central bank doesn&#8217;t have enough confidence to lower rates.
Siegel expects the press to probe as to whether the Fed was contemplating rate hikes. &#8220;Powell's answer to that may be illuminating,&#8221; he said. &#8220;It is quite possible with two more inflation prints before the June meeting, that the Fed can get enough information to signal imminent cuts. I'm not ruling out a rate cut at the June meeting.&#8221;
Fundstrat expressed confidence in the market recovery taking root. &#8220;Stocks survive &#8216;fragility test&#8217; of April. Roadmap for May more constructive = recovery towards S&amp;P 5,200,&#8221; said the firm in a post on X.
Upcoming Economic Data:
<ul>
<li>A two-day Federal Open Market Committee meeting gets underway on Tuesday, with the decision due only on Wednesday.</li>
<li>The Labor Department is scheduled to release its employment cost index for the first quarter at 8:30 a.m. EDT. Economists, on average, expect the index to climb 1% quarter-over-quarter, faster than the 0.9% increase in the fourth quarter.</li>
<li>The S&amp;P Case-Shiller and Federal House Finance Agency are due to release the results of their respective house price surveys at 9 a.m. EDT.</li>
<li>ISM-Chicago will release the results of its regional manufacturing survey at 9:45 a.m. EDT. The Chicago business barometer index is expected to rise from 41.4 in March to 45 in April. A reading below 50 shows contraction. </li>
<li>The Conference Board&#8217;s consumer confidence index, due at 10 a.m. EDT, may have eased slightly from 104.7 in March to 103.5 in April.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) fell over 9.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its earnings announcement.</li>
<li>Other stocks moving on earnings are Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) (down about 4%), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (down about 5.4%), Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) (up about 16%), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) (down over 4%) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) (down over 5%).</li>
<li>Tesla slipped over 1% following its 15%+ jump on Monday.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly on Tuesday and yet traded at the sub-$83-a-barrel mark and gold futures moved sideways around the $2,300 level.
The 10-year note yield held around the 4.628% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has pulled back over the past 24 hours and traded under $62,000.
Asian stocks moved about in a lackluster manner before closing on a mixed note. While the Japanese market, which reopened after a public holiday, rallied strongly, Chinese equities pulled back as investors weighed in the private-sector activity data.
The Japanese yen weakened after Monday&#8217;s surge achieved on the back of government intervention to prop up the currency. 
European markets were lower in early trading as investors digested a slew of domestic economic data. The euro area expanded more than expected in the first quarter, as the economy emerged out of a recession, and the March inflation came in line with forecasts. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
illustration created using artificial intelligence via MidJourney.

Futures

Previews

Movers

FFIV

LSCC

MSTR

RMBS

YUMC

Wall Street On Edge Ahead Of Fed Decision, Spotlight Falls On Amazon And AMD Earnings: Analyst Says Stocks Survive 'Fragility Test' As April Ends

Coca-Cola Q1 Comparable Operating Margin Was 32.4% Versus 31.8% In Prior Year

Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) reported quarterly earnings of $0.72 per share which beat the analyst consensus estimate of $0.70 by 2.86 percent. The company reported quarterly sales of $11.300 billion which beat the analyst consensus estimate of $11.010 billion by 2.63 percent. This is a 2.91 percent increase over sales of $10.980 billion the same period last year.

Earnings Beats

Coca-Cola Q1 2024 Adj EPS $0.72 Beats $0.70 Estimate, Sales $11.300B Beat $11.010B Estimate

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled higher on Monday, driven by surge in Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares. Shares of the EV maker jumped more than 15% on Monday on reports the company will partner with Baidu for mapping and navigation for Full Self-Driving in China.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares rose 2.5% on Monday after Bernstein upgraded the stock from Market Perform to Outperform. ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) reported better-than-expected first-quarter results.
On the economic data front, the Dallas Fed Manufacturing index fell slightly to -14.5 in April from March's reading of -14.4. The Federal Reserve is scheduled to announce its latest interest rate decision on Wednesday.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate and consumer discretionary stocks recording the biggest gains on Monday. However, communication services and financial stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 146 points to 38,386.09 on Monday. The S&amp;P 500 added 0.32% at 5,116.17, while the Nasdaq Composite jumped 0.35% at 15,983.08 during Friday's session.
Investors are awaiting earnings results from Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) and The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) today.
At a current reading of 43.5, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 42.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/04/38489087/jim-cramer-likes-palantir-recommends-pioneer-natural-resources-i-want-you-to-ka-ching-ka-ching">Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: &#8216;I Want You To Ka-Ching, Ka-Ching&#8217;</a>

AAPL

Investor Sentiment Improves Further, Dow Jumps Over 100 Points

The Coca-Cola Company (KO) Q1 2024 Earnings Call Transcript

4 Buyable Berkshire DiviDogs From April, Plus 5 To Watch

Wall Street Lunch: Reefer Gladness

Several companies have raised their outlooks, with shares moving higher following the announcements. For those interested in recent bullish activity, let's take a closer look at each.

These 3 Companies Recently Lifted Guidance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Exchange-traded funds can be your best friend during times of volatility, which brings us to ETFs to buy. Primarily, the casting of a wide net enables you to cover much more ground than you can hope for selecting individual securities.



Second, the very nature of ETFs help mitigate downside risk. If one idea within the basket tanks, other more compelling names could help pick up the slack. Also, these funds enable you to acquire exposure across multiple industries. This way, you can face market uncertainty with a greater degree of confidence.



It&rsquo;s a tricky world out there. Give yourself an advantage with these ETFs to buy.



<h2>Vanguard Dividend Appreciation ETF (VIG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/dividends-hand-chart-1600-300x169.jpg" alt="The word &quot;dividends&quot; written over a blue graph line being drawn by a business person's hand"><div>Source: shutterstock.com/Jirsak</div></div>When faced with uncertainty, it&rsquo;s a good idea to target companies that provide passive income. Generally, these enterprises tend to be the most stable. After all, those dividends must come from somewhere. Nevertheless, it can still be quite a challenge to decipher which names will win out. With the Vanguard Dividend Appreciation ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/vig-stock-quote/">VIG</a>), the fund takes much of the guesswork out of the equation.



Notably, technology stalwart Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) represents the top holding of the VIG ETF. To be fair, it&rsquo;s not the most generous enterprise, with a <a href="https://www.dividend.com/stocks/technology/software/infrastructure-software/msft-microsoft/">forward yield of 0.74%</a>. However, the company has been increasing its payout over the last 22 years. Rounding out the top three are fellow tech giants Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) and Broadcom (NASDAQ:<a href="https://investorplace.com/stock-quotes/avgo-stock-quote/">AVGO</a>).



Another factor that makes the VIG one of the best ETFs to buy is diversification. Technology holds the top weighting at 22.35%. However, the financial and healthcare sectors aren&rsquo;t too far behind at 20.15% and 16.34%, respectively. Combined with a <a href="https://money.usnews.com/funds/etfs/large-blend/vanguard-dividend-appreciation-etf/vig">lowly expense ratio of 0.06%</a>, this Vanguard fund should be on your radar.



<h2>Utilities Select Sector SPDR Fund (XLU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/utilities-1600-300x169.jpg" alt="Miniature house and symbols of public utilities."><div>Source: Andrii Yalanskyi / Shutterstock</div></div>One of the key reasons why investors ought to consider the utilities sector during market turbulence is the natural monopoly. Technically speaking, nothing prevents a would-be rival from competing against a utility provider. However, high barriers to entry exist, including regulatory frameworks. As such, most don&rsquo;t even bother, leaving the utility giants entrenched.



Still, it&rsquo;s difficult to know for sure which utility to buy. So, that&rsquo;s where the Utilities Select Sector SPDR Fund (NYSEARCA:<a href="https://investorplace.com/stock-quotes/xlu-stock-quote/">XLU</a>) enters front and center stage. The XLU&rsquo;s top holding is NextEra Energy (NYSE:<a href="https://investorplace.com/stock-quotes/nee-stock-quote/">NEE</a>), a powerhouse in the green and renewable energy space. Rounding out the top three holdings are Southern Company (NYSE:<a href="https://investorplace.com/stock-quotes/so-stock-quote/">SO</a>) and Duke Energy (NYSE:<a href="https://investorplace.com/stock-quotes/duk-stock-quote/">DUK</a>).



Granted, there&rsquo;s not a whole lot of diversification in the XLU &ndash; it&rsquo;s 100% utilities. However, what&rsquo;s great about the fund is the geographic diversity. For example, Duke covers the Carolinas, which has seen an influx of millennials. Southern covers, as its name implies, the Southern states.



With the utility firms providing an excellent source for high dividends, XLU is one of the top ETFs to buy.



<h2>iShares US Consumer Staples ETF (IYK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/consumerstaples1600b-300x169.jpg" alt="A store shelf stocked with various consumer staples."><div>Source: Shutterstock</div></div>Consumer staples represent everyday products that people need (or want). Thus, the sector provides ample protection from volatility. To be sure, if the market decides to tank, the red ink could end up taking everything down. Still, consumer staple specialists tend to be resilient in large part because of the underlying revenue predictability. Sure enough, the iShares US Consumer Staples ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/iyk-stock-quote/">IYK</a>) makes for an intriguing idea for ETFs to buy.



Not surprisingly, the IYK&rsquo;s top holding is Procter &amp; Gamble (NYSE:<a href="https://investorplace.com/stock-quotes/pg-stock-quote/">PG</a>). Fundamentally, P&amp;G offers assurances for investors thanks to its relevant products and longstanding brand awareness. Coming in as number two and three are the beverage giants PepsiCo (NASDAQ:<a href="https://investorplace.com/stock-quotes/pep-stock-quote/">PEP</a>) and Coca-Cola (NYSE:<a href="https://investorplace.com/stock-quotes/ko-stock-quote/">KO</a>). Both should benefit from the trade-down effect as cheap providers of caffeinated products.



While the vast majority of the IYK is tied to the consumer defensive space specifically (87.94%), the fund includes modest exposure to healthcare (9.61%) and basic materials (1.78%). It&rsquo;s not an exciting fund per say. However, it should keep your portfolio upright.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-etfs-to-buy-when-the-market-gets-crazy/">3 ETFs to Buy When the Market Gets Crazy</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 ETFs to Buy When the Market Gets Crazy

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Clorox (CLX – Research Report) and Coca-Cola (...

Analysts Offer Insights on Consumer Goods Companies: Clorox (CLX) and Coca-Cola (KO)

Non-Farm Payrolls Preview For April 2024: 3 Major Considerations

Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on Coca-Cola (KO – Research Report) and Clorox (CLX – Research R...

Analysts Offer Insights on Consumer Goods Companies: Coca-Cola (KO) and Clorox (CLX)

Coca-Cola (KO) just announced its first-quarter results, defying expectations with solid earnings. However, let us examine its performance, segment dynamics, and financial outlook to determine whether now is the opportune moment to buy into this beverage titan... Beverage conglomerate The Coca-Cola Company (<a href="https://stocknews.com/stock/KO/">KO</a>) announced its first-quarter results on April 30, 2024. While the company has shown resilience, some factors suggest caution before investing. So, in this article, I have discussed why it could be prudent to wait for a better entry point in the stock.
Despite a mere 1% increase in case volume, the company's earnings and revenue substantially outperformed Wall Street estimates in the fiscal first quarter.
In terms of segment performance, KO witnessed a robust 10% revenue surge in Latin America, while North America and the Asia Pacific each saw a commendable 7% growth. Global Ventures also experienced a modest 3% uptick. But, revenue faced a slight dip of 3% in EMEA and a more significant decline of 7% in Bottling Investments.
Backed by strong business momentum, the company revised its fiscal year 2024 revenue growth outlook to 8% to 9%, up from the previous forecast of 6% to 7%. However, the increased sales projection is primarily attributed to price hikes in inflationary markets rather than substantial business enhancements.
KO's stock has gained 3.1% over the past three months but declined 3.7% over the past year to close the last trading session at $61.77.
Here's what could influence KO's performance in the upcoming months:
Contrasting Financials
KO's net operating revenues for the fiscal first quarter ended March 29, 2024, increased 2.9% year-over-year to $11.30 billion. Its non-GAAP gross profit rose 4.7% over the prior-year quarter to $6.99 billion. Its non-GAAP net income increased 6.1% year-over-year to $3.12 billion.
However, its selling, general, and administrative expenses increased 5.2% from the prior-year quarter to $3.35 billion. Also, as of March 29, 2024, its cash and cash equivalents at the end of the period were $10.44 billion, down from $12 billion as of March 29, 2023.
Mixed Analyst Estimates
Analysts expect KO's EPS to rise 4.6% year-over-year to $2.81 in the fiscal year 2024 and 3.1% year-over-year to $0.80 in the current quarter ending June 2024.
Nonetheless, its revenue is likely to fall marginally from the prior-year to $45.65 billion in 2024 and $11.87 billion in the current quarter.
Robust Profitability
KO's trailing-12-month net income margin of 23.42% is 408.9% higher than the 4.60% industry average. Its 31.56% trailing-12-month EBITDA margin is 154% higher than the industry average of 12.40%. Furthermore, the stock's 59.52% trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp">gross profit margin</a> is 69.3% higher than the industry average of 35.17%.
Stretched Valuation
In terms of forward EV/Sales, KO's 6.54x is 293.4% higher than the 1.66x industry average. Its 5.83x forward P/S is 383.6% higher than the 1.21x industry average. Its forward non-GAAP P/E multiple of 21.94 is 23.5% higher than the 17.76 industry average.
POWR Ratings Reflect Uncertainty
KO has an overall rating of C, equating to a Neutral in our <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. KO has a C grade for Growth, which is justified by its mixed first-quarter performance. Moreover, its C grade in Momentum is in sync with its fluctuating price performance.
KO is ranked #16 out of 33 stocks in the <a href="https://stocknews.com/category/beverages/">Beverages</a> industry.
Click <a href="https://stocknews.com/stock/KO/">here</a> to access KO's Value, Stability, Sentiment, and Quality ratings.
Bottom Line
Although KO raised its fiscal year 2024 outlook, attributing increased revenue projections to price hikes in inflationary markets, how this will impact its overall performance remains to be seen.
Given KO's mixed financials and a valuation that appears stretched relative to industry peers, investors may want to wait for a more opportune entry point in the stock.
How Does The Coca-Cola Company (KO) Stack Up Against Its Peers?
While the chances of KO outperforming in the near time are uncertain, you may check out the stocks within the <a href="https://stocknews.com/category/beverages/">Beverages</a> industry possessing an A (Strong Buy) rating: Embotelladora Andina S.A. (<a href="https://stocknews.com/stock/AKO.B/">AKO.B</a>), Kirin Holdings Co. Ltd. ADR (<a href="https://stocknews.com/stock/KNBWY/">KNBWY</a>), and Suntory Beverage &amp; Food Limited (<a href="https://stocknews.com/stock/STBFY/">STBFY</a>).
To access more Buy-rated Beverage stocks set to outperform, click <a href="https://stocknews.com/category/beverages/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
KO shares were unchanged in premarket trading Wednesday. Year-to-date, KO has gained 5.71%, versus a 5.59% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/ko-ako-b-knbwy-stbfy-coca-cola-ko-earnings-analysis-is-now-the-time-to-buy/>Coca-Cola (KO) Earnings Analysis: Is Now the Time to Buy?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Coca-Cola (KO) Earnings Analysis: Is Now the Time to Buy?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Starbucks (NASDAQ:<a href="https://investorplace.com/stock-quotes/sbux-stock-quote/">SBUX</a>) shares fell hard overnight after earnings missed estimates and the company <a href="https://www.cnbc.com/2024/04/30/starbucks-sbux-earnings-q2-2024.html">cut its forecast for the year</a>.



Net income of $772.4 million, or 68 cents per share, came in <a href="https://investor.starbucks.com/press-releases/financial-releases/press-release-details/2024/Starbucks-Reports-Q2-Fiscal-2024-Results/default.aspx">down from a year ago</a>. Meanwhile, sales of $8.56 billion fell 1.8%. Management blamed a &ldquo;complex operating environment.&rdquo;



Starbucks opened May 1 at about $76 per share and currently has a market capitalization of around $84 billion. Shares closed on April 30 at more than $88 per share. Wedbush recently cut its price target on SBUX stock to $81 per share, and <a href="https://www.marketscreener.com/quote/stock/STARBUCKS-CORPORATION-4905/news/Wedbush-Cuts-Price-Target-on-Starbucks-to-81-From-92-Calls-Fiscal-Q2-Disappointing-Keeps-Neutr-46591270/#:~:text=Wedbush%20Cuts%20Price%20Target%20on,%2C'%20Keeps%20Neutral%20Rating%20%2D%20MarketScreener">other analysts joined in</a>.



<h2>SBUX Stock: Hard Times at the Coffee Shop</h2>



CEO Laxman Narasimhan has had a tough time since replacing founder Howard Schultz as CEO in April 2023. SBUX stock is down more than 30% over the past one year.



Narasimhan blamed morning commuters who are <a href="https://fortune.com/2024/05/01/starbucks-earnings-morning-commute-app-orders/">too impatient</a> to wait for their coffee. Same store revenue <a href="https://www.nytimes.com/2024/04/30/business/starbucks-earnings-first-quarter.html">fell by 3% in North America</a> and 11% in China.



Starbucks is facing increasing competition in all of its markets. Grab-and-go chains like Dutch Brothers (NYSE:<a href="https://investorplace.com/stock-quotes/bros-stock-quote/">BROS</a>) are taking share in the U.S. with a wider variety of drinks. Young people are also flocking to &ldquo;boba shops&rdquo; that sell tea drinks and coffee, along with a wider variety of flavors and <a href="https://www.hercampus.com/life/national-boba-day-2024-deals/">tapioca pearls</a>. In Europe, Starbucks also faces Coca-Cola (NYSE:<a href="https://investorplace.com/stock-quotes/ko-stock-quote/">KO</a>), which owns Costa Coffee.



In his second return as CEO, Schultz ditched the lounges and WiFi havens on which Starbucks made its name. Instead, he built tiny shops with drive-up windows. Narasimhan has yet to make major changes, except for making peace with union activists that Schultz fought hard.



Narasimhan said Starbucks is finally getting on the boba bandwagon with a drink called <a href="https://www.businessinsider.com/starbucks-launches-boba-drinks-raspberry-popping-pearls-summer-refresher-beverage-2024-5">&ldquo;Pearls.&rdquo;</a> The company is continuing on the automation path Schultz set it on, with <a href="https://www.pymnts.com/earnings/2024/starbucks-renews-focus-on-occasional-customers-as-q2-results-disappoint/">digital menu boards</a> and an improved loyalty program. The company will also offer overnight service in some locations and expand its delivery business.



<h2>What Happens Next?</h2>



Narasimhan has a limited time to get things right for the company. Starbucks is now racing to catch up with changing tastes rather than leading them.



On the date of publication, Dana Blankenhorn did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div><a href="http://www.danablankenhorn.com/">Dana Blankenhorn</a> has been a financial and technology journalist since 1978. He is the author of <a href="https://www.amazon.com/Technologys-Big-Bang-Yesterday-Tomorrow-ebook/dp/B0829C7XSF">Technology&rsquo;s Big Bang: Yesterday, Today and Tomorrow with Moore&rsquo;s Law</a>, available at the Amazon Kindle store. Tweet him at <a href="http://www.twitter.com/danablankenhorn">@danablankenhorn</a>, connect with him on <a href="https://journa.host/@DanaBlankenhorn"> Mastodon</a> or subscribe to his <a href="https://danafblankenhorn.substack.com/">Substack</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/wedbush-just-slashed-its-price-target-on-starbucks-sbux-stock/">Wedbush Just Slashed Its Price Target on Starbucks (SBUX) Stock</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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