Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.1%), and DJIA (+0.7%) have spent the past hour trading in a relatively tight range. 

Coca-Cola (KO 70.80, +2.36, +3.44%) trades higher after reporting its Q3 results this morning. The beverage giant beat EPS expectations, with revenue coming in-line, increasing 5.4% year-over-year to $12.5 billion. Encouragingly, total volume increased +1% (-1% in Q2) and reaffirmed its FY25 guidance of organic revenue growth of 5-6% and comparable EPS growth of about 3%.

Despite Coca-Cola's nice gain, the consumer staples sector (-0.6%) moves lower as a majority of its components hold losses. Philip Morris International (PM 146.71, -11.35, -7.18%) retreats the furthest despite beating top and bottom line estimates and guiding FY25 EPS expectations in line.