Coke Overcomes Declining Demand to Post Strong Q4 Sales
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Coke Overcomes Declining Demand to Post Strong Q4 Sales
Coke Overcomes , Declining Demand to, Post Strong Q4 Sales.
ABC reports that Coca-Cola posted higher-
than-expected revenue in Q4, as lower
demand in the United States was offset by
growth in Mexico, Germany and other markets.
ABC reports that Coca-Cola posted higher-
than-expected revenue in Q4, as lower
demand in the United States was offset by
growth in Mexico, Germany and other markets.
On February 13, the Atlanta-based beverage
giant said that revenue increased 7% to reach
$10.8 billion between October and December.
On February 13, the Atlanta-based beverage
giant said that revenue increased 7% to reach
$10.8 billion between October and December.
According to analysts polled by FactSet,
the final numbers exceeded
Wall Street's prediction of $10.7 billion.
.
Coca-Cola projected 6% to 7%
of full-year organic revenue growth in
2024, down from 12% growth in 2023.
.
ABC reports that the company's gains were driven by
sparkling soft drinks, juices and Coca-Cola Zero Sugar,
while demand for sports drinks, coffee and tea fell.
.
According to Coca-Cola,
prices increased by 8% in Q4.
The Q4 price increase, combined with double
digit increases in 2023, have driven some
consumers to switch to cheaper store brands.
Meanwhile, the company saw
unit case volumes grow
in other global markets.
.
Net income dropped 3%
to reach $1.9 billion,
or about 46 cents per share.
.
After posting the Q4 results,
shares in Coke rose nearly
1% in premarket trading.
Dr Pepper Becomes , Second-Biggest Soda Brand in America.
Coke is still the number one soda
in the U.S., but Pepsi has been knocked
from its number two spot, CNN reports. .
Coke is still the number one soda
in the U.S., but Pepsi has been knocked
from its number two spot, CNN reports. .
Beverage Digest's market share data indicates that Dr Pepper overtook Pepsi in 2023.
Dr Pepper has been gaining,
[Pepsi] has been declining, and
they’re meeting in the middle, Duane Stanford, editor of Beverage Digest, via CNN.
Dr Pepper was founded before Coca-Cola and Pepsi in 1885 in Waco, Texas, CNN reports. .
While it's maintained a devoted
following in the South, it's steadily
gained national traction over the years.
Soda fans enjoy it as a spicy alternative
to "regular" cola flavors.
The company has also been
experimenting with more flavors such as Strawberries & Cream and Creamy Coconut.
While Creamy Coconut
was a limited-time flavor, .
Strawberries & Cream was
"a standout success," according to
Timothy Cofer, CEO of Keurig Dr Pepper.
Meanwhile, Coca-Cola released a "Spiced" flavor in February to stay competitive. .
Consumers are looking for more bold flavors and more complex flavor profiles. That’s a trend we started to see in food, but also in beverage and we though that was a unique space for us to play in, Lynne Cha, Coke’s vice president of
marketing for North America, via CNN
Credit: Wibbitz Top Stories Duration: 01:31Published
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Mortgage Rates Continue , to Fall, Raising Hopes of the , Fed Cutting Rates.
ABC reports that borrowing costs for
home loans continued to ease this week,
with the average rate on a 30-year mortgage
falling to its lowest level since April.
According to mortgage buyer
Freddie Mac, the rate fell from
6.95% to 6.87% last week. .
That figure is still significantly higher than
what the rate was during the same time last year,
which was at an average of 6.67%. .
15-year fixed-rate mortgages
also eased, falling from
6.17% last week to 6.13%. .
During the same time last year,
the average rate was at 6.03%.
Those higher rates can add hundreds of dollars
to monthly costs for borrowers, which limits the
purchasing options of potential homebuyers.
Mortgage rates fell for
the third straight week
following signs of cooling
inflation and market
expectations of a
future Fed rate cut, Sam Khater, Freddie Mac’s chief economist, via ABC.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
Due to yields also beginning to ease, the Federal
Reserve could start to drop its main interest rate
after hiking it up to the highest level in over 20 years.
Last week, Fed officials suggested that they would make
just one cut to their benchmark interest rate in 2024,
down from previous projections of three cuts for the year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Surge of New Applications for , Unemployment Benefits , May Signal Cooling Job Market.
Last week, the number of people in the
United States filing for unemployment benefits
reached the highest level in ten months last week. .
ABC reports that the news comes as a potential
sign that the U.S. labor market may be slowing
under the burden of high interest rates. .
The week ending June 8 saw
applications for jobless benefits
rise by 13,000 to reach 242,000. .
According to Labor Department
data, that is up from 229,000 new
applications the week before.
The number also represents the highest
number of new applications since August
of 2023, while also being significantly higher
than the 225,000 new claims forecast.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
Since March of 2022, the Federal Reserve has raised
benchmark rates 11 times in an attempt to reign in
inflation which has risen to a four-decade high.
While the latest data suggests that consumer
inflation cooled in May, the Federal Reserve
has decided to leave rates at a 23-year high.
According to Fed Chair Jerome Powell, officials
are waiting for more evidence that prices
are reaching their target of two percent.
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1. .
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1.
Credit: Wibbitz Top Stories Duration: 01:30Published
T-Mobile Announces Deal , to Acquire Most of , U.S. Cellular .
T-Mobile Announces Deal , to Acquire Most of , U.S. Cellular .
On May 28, T-Mobile announced that
it will acquire most of competitor
U.S. Cellular in a massive $4.4 billion deal.
ABC reports that the deal would give T-Mobile,
already one of the largest wireless providers in
the United States, an additional 4 million customers.
ABC reports that the deal would give T-Mobile,
already one of the largest wireless providers in
the United States, an additional 4 million customers.
The deal will also see T-Mobile acquire
hundreds of brick-and-mortar stores
and a wider presence in rural areas.
The deal will also see T-Mobile acquire
hundreds of brick-and-mortar stores
and a wider presence in rural areas.
The acquisition will also expand T-Mobile's
spectrum rights, a federal license permitting
the transmission of mobile signals.
According to T-Mobile, the deal
is expected to close sometime
in the middle of 2025.
As customers from both
companies will get more
coverage and more capacity
from our combined footprint,
our competitors will be forced
to keep up -- and even more
consumers will benefit, Mike Sievert, CEO of T-Mobile, via ABC.
As customers from both
companies will get more
coverage and more capacity
from our combined footprint,
our competitors will be forced
to keep up -- and even more
consumers will benefit, Mike Sievert, CEO of T-Mobile, via ABC.
T-Mobile added that U.S. Cellular
will retain control of a portion of the
company's spectrum rights and cellular towers. .
According to T-Mobile, the deal will provide
customers with more competitive options to the
two largest U.S. wireless carriers: Verizon and AT&T.
According to T-Mobile, the deal will provide
customers with more competitive options to the
two largest U.S. wireless carriers: Verizon and AT&T.
By tapping into the additional
capacity and coverage created
through the combined spectrum
and wireless assets, T-Mobile
will spur competition, T-Mobile statement, via ABC.
The news comes after a series of
acquisitions for T-Mobile aimed at
accelerating the wireless provider's growth
Credit: Wibbitz Top Stories Duration: 01:31Published
The first 2024 presidential debate between Joe Biden and Donald Trump took place on June 27 at CNN headquarters in Atlanta. The candidates clashed on issues including the economy, immigration, abortion rights, and foreign policy. Both faced questions about their age and fitness for office. Biden criticized Trump's legal troubles and pandemic response, while Trump touted his economic record and attacked Biden's border policies. The debate highlighted deep divisions in the country and set the stage for a contentious election.
#TrumpvsBiden #JoeBiden #DonaldTrump #CNNDebate #Bidennews #Trump #PresidentialDebate2024 #USnews #Worldnews #Oneindia #Oneindianews
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Upcoming Presidential Debate , Between Biden and Trump, Breaks With Tradition.
Upcoming Presidential Debate , Between Biden and Trump, Breaks With Tradition.
On June 27, President Joe Biden and former
President Donald Trump will meet in the
first presidential debate of 2024 in Atlanta.
On June 27, President Joe Biden and former
President Donald Trump will meet in the
first presidential debate of 2024 in Atlanta.
NPR reports that the debate marks the beginning of
a new phase in the presidential election, with less
than five months until Election Day on November 5.
According to the latest NPR/PBS News/Marist polls,
Biden and Trump are nearly tied following a month-long
trend of national surveys with the same results.
According to the latest NPR/PBS News/Marist polls,
Biden and Trump are nearly tied following a month-long
trend of national surveys with the same results.
Breaking with campaign tradition, the debate comes
months earlier than usual, following a set of rules
agreed to by candidates and without a live audience.
The event is scheduled to start at 9 p.m. ET
and is expected to run for 90 minutes.
CNN's Jake Tapper and Dana Bash will
moderate the event, which will take
place at the network's Atlanta studio.
CNN's Jake Tapper and Dana Bash will
moderate the event, which will take
place at the network's Atlanta studio.
The presidential debate will also be available
on CNN and the Max streaming platform. .
The presidential debate will also be available
on CNN and the Max streaming platform. .
NPR reports that presidential debates
have traditionally occurred in front of a live
audience and are coordinated by the bipartisan
Commission on Presidential Debates (CPD).
However, both Biden and Trump have said they
will not participate in the CPD's planned debates,
pushing for earlier face offs ahead of the election.
However, both Biden and Trump have said they
will not participate in the CPD's planned debates,
pushing for earlier face offs ahead of the election.
The second debate is scheduled
for September and will be
hosted by ABC News
Credit: Wibbitz Top Stories Duration: 01:31Published
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