Coca-Cola Stock Rises After Strong Q3 Results
Coca-Cola (KO) is set to gain for the third consecutive day, driven by its impressive third-quarter performance. The company's adjusted earnings of 82 cents and revenue of $12.4 billion exceeded analyst expectations.
The success of its zero-sugar drinks helped offset declining unit volume, with the stock rising 2.6% to $70.25. This extends its climb from late-September lows at $66 and breaks above the 80-day moving average resistance trendline.
Year-to-date, Coca-Cola stock has gained 10%. Short-term options traders are optimistic, as indicated by the Schaeffer's put/call open interest ratio (SOIR) of 0.47, which ranks in the 12th percentile of annual readings.
Options are looking affordable and could become even cheaper in a post-earnings volatility crush.
Coca-Cola's strong Q3 results have boosted investor confidence, with the stock poised for further growth.
Author's summary: Coca-Cola stock rises after strong Q3 results.
- Stock price: $70.25
- Year-to-date gain: 10%
- SOIR: 0.47 (12th percentile of annual readings)