Coca-Cola Gains, Micron Drops, Corning Plunges as 3Q Sales Outlook Is Just Shy of Estimates

On this episode of Stock Movers:
-Coca-Cola (KO) shares gain. Coca-Cola Co. raised its full-year outlook, bolstered by demand last quarter while it served as a major sponsor of the FIFA World Cup. The company now sees organic sales growth of 5%, and raised its forecast for earnings-per-share growth to as much as 8%. Coca-Cola topped earnings and sales expectations for last quarter, with organic sales jumping 7% in North America, where the World Cup was hosted.
- Micron (MU) shares fall. Semiconductor stocks deepened as signs of progress in China’s advanced chipmaking industry compounded worries about the sustainability of the artificial intelligence spending boom.
-Corning (GLW) falls as much as 19.5%, the most intraday since 2002, after the fiber-optic cable manufacturer provided third quarter revenue guidance that was just below expectations. The midpoint of the third quarter EPS forecast range is slightly above analysts’ estimates.

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