The Coca-Cola Co (NYSE:KO) ended the last trading session with a mild gain of 1.3% though the last quarterly results reported by the company in the morning, beat the street expectations. The stock opened with a gap up but a bout of profit booking dragged it lower but still the stock managed to close entirely above the previous day’s range. As usual on a results announcement day, the volume surged and at 27 million, was nearly double the daily average of 14 million.
The Coca-Cola Co (NYSE:KO) reported revenue of $10.71 billion against the expected $10.66 billion but remained a bit concerned about its flagship North American market. The sales of soda declined by 1% there, led by a 5% decline in the sales of Diet Coke and 1% in Diet Coke. Regarding this drop in sales there, the company explains that they are still working hard to understand the reality there. The revenue there was saved by a 2% increase seen in the noncarbonated drinks like bottled teas.
The Coca-Cola Co (NYSE:KO) has reported quarterly earnings of $0.35 per share or $1.56 billion, excluding the one-time items which went to $0.48 per share, beating the analysts’ expectation of $0.43 by a good margin.
A single glance at the 5 year chart of the stock suffices to show that the series of higher highs and higher lows have been intact despite a lot of volatile moves and that kept the long term uptrend alive. On the other hand, the stock didn’t really go anywhere as it kept moving in a slightly slanted but nearly horizontal channel. In the last 12 months, the range has contracted to $40-$45 for the stock, which can expand to $38 on the downside at most but no signs of any impending significant move is visible yet.
