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The Coca-Cola Co (NYSE: KO) stock was trading flat Tuesday after the beverage company announced a new strategic relationship with BodyArmour. As part of the agreement, Coca-Cola will acquire a minority stake in the sport beverage company in exchange for access to Coca-Cola's bottling system with future potential for an international expansion.
Tapestry Inc (NYSE: TPR) gained more than 5 percent after the fashion company reported its fiscal fourth-quarter results. The parent company of Coach, Kate Spade and other luxury brands said it earned 60 cents per share in its quarter on revenue of $1.48 billion versus expectations of 57 cents per share and $1.47 billion. The company guided its full year 2018 EPS to a range of $2.70-$2.80 on revenue of $6.1-$6.2 billion versus estimates of $2.60 per share and $5.86 billion.
Switch Inc (NYSE: SWCH) lost more than 25 percent in reaction to a weak second-quarter earnings report and downward revision to its 2018 sales and EBITDA guidance. BTIG Research downgraded the stock from Buy to Neutral.
Truett-Hurst Inc (NASDAQ: THST) gained more than 100 percent after the nano-cap wine company said it reached an agreement to sell its wholesale wine business to Precept Brands.
Advance Auto Parts, Inc. (NYSE: AAP) gained more than 6 percent in reaction to a second-quarter sales and earnings beat. The company also guided its full year 2018 sales to a range of $9.3-$9.5 billion versus the Street's estimate of $9.38 billion.
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