Coca-Cola (KO) shares are down 6% and are now negative for the year. The world's number one soft drink company reported a profit $0.53 a share for its third quarter. That was in-line with estimates but the company added that volumes and margins would be hurt by macroeconomics, currency headwinds and a bunch of other stuff that doesn't seem to be preventing anyone from buying iPhones. What do you do with a stock that can drop more than 6% in a day, sells at a price-to-earnings multiple of 21X and has no growth? It's not a trick question. You sell and that's what shareholders are doing right now. By comparison, rival Pepsi (PEP) shares are 13% higher for the year.
Chipotle Mexican Grill (CMG) is also giving shareholders indigestion to the tune of 6% but going about it a whole different way. The designer burrito chain reported crazy same-store sales growth of 19.8% and grew earnings per share by 56%. Unfortunately they're serving a little sandbag with that wrap; for next year the company sees low to mid-single digit sales growth, citing tough comps.
Harley-Davidson (HOG) shares are down for the year but popping a wheelie today on a better-than-expected quarter. It's all about expectations here. The company earned $0.69 a share, lagging last year's results but well ahead of estimates. Most of the shortfall compared to last year was due to a $14 million charge for recalls. Harley left guidance unchanged.
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