Coca-Cola Cites Wet Weather for Sales Slump and 2 Other Dow Movers to Watch
Coca-Cola Co. (NYSE:KO): Current price 40.17
In the most recent quarter, Coke sold less soda in North America, blaming unusually chilly and wet weather for disappointing results. However, the sales drop continues a series of declines in three of the last four quarters while criticism mounts that sugary drinks drive obesity rates. The beverage company — which also makes Dasani, Minute Maid, and Powerade — announced Tuesday that its second-quarter profit fell by 4 percent but worldwide volume increased by 1 percent, pushed up by sales in emerging markets. In North America, volume slipped by 1 percent.
Johnson & Johnson (NYSE:JNJ): Current price $90.23
J&J shares started the day off higher, for a time gaining 0.5 percent on better-than-anticipated second-quarter earnings results. Before the bell, J&J said it earned $3.83 billion, or $1.33 per share, versus 50 cents year-over-year. Subtracting onetime costs, including benefits connected with the divestiture of Elan Corp. American depositary shares, adjusted earnings climbed to $1.48 from $1.30, and revenue increased by 8.5 percent to $17.88 billion. Analysts expected earnings per share of $1.39 on revenue of $17.71 billion. For 2013, J&J said it now forecasts earnings between $5.40 to $5.47 per share compared to its previous estimate between $5.35 and $5.45.
McDonald’s Corp. (NYSE:MCD): Current price $100.83
The fast-food behemoth says it will debut its first outlet in Vietnam early in 2014. The restaurant will be located in Ho Chi Minh City and will be operated by the Vietnamese businessman Henry Nguyen, who is the son-in-law of Prime Minister Nguyen Tan Dung. A report in the Financial Times said that McDonald’s considered entering the Vietnamese market more than 10 years ago, but the idea foundered on questions of beef supply and reliable supply chain infrastructure.