TLDR

MARKET RECAP → Stocks dropped Wednesday, with the Dow Jones (DIA) posting its worst day in over a month as interest rates continued to creep higher.

COCA-COLA BEATS EARNINGS ESTIMATES, BOOSTED BY PRICE HIKES → Coca-Cola's (KO) quarterly earnings surpassed expectations, driven by higher prices offsetting weaker demand. EPS reached 77 cents, beating forecasts, while global volume dipped by 1%.

MCDONALD’S SHARES FALL AFTER E. COLI OUTBREAK → McDonald's (MCD) stock fell after the CDC linked an E. coli outbreak to its Quarter Pounders, resulting in 10 hospitalizations and one death. 🍔

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Coca-Cola Beats Earnings Expectations, Thanks to Price Hikes

🍹 Coca-Cola (KO) exceeded earnings expectations despite sluggish demand, thanks to price increases that offset weaker sales.

💡 Earnings per share came in at 77 cents, beating the 74-cent forecast, while revenue hit $11.95 billion.

📉 Volume was flat in North America but fell 1% globally, driven by lower demand in international markets. Despite this, Coke's strong pricing strategy led to a 10% revenue growth outlook for 2024.

TODAY’S TOP NEWS

McDonald's Shares Drop After E. Coli Outbreak

🍔 McDonald’s (MCD) shares dropped after the CDC linked an E. coli outbreak to its Quarter Pounder burgers, resulting in 10 hospitalizations and one death.

🧅 The outbreak is suspected to be tied to slivered onions from a single supplier, prompting McDonald’s to temporarily stop serving Quarter Pounders in certain states.

🚨 McDonald’s stated that other beef products like the Big Mac and cheeseburgers remain unaffected, emphasizing the company’s commitment to food safety.

BULL VS. BEAR

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