Business News

The Rebound Continues

Markets snapped back for the third straight day on Tuesday as good earnings reports fuel belief in an improving economy. (CNBC)

U.S. home re-sales jumped to their highest level in a year in September, the latest indication that the housing market recovery is gradually getting back on track.  The National Association of Realtors said on Tuesday existing home sales rose 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year.

Shares of Coca-Cola sunk on Tuesday, down more than 5% after the Atlanta-based beverage company reported a third quarter profits drop of 14% to $2.1 billion from $2.45 billion one year ago. Revenue fell to $11.98 billion in the third quarter from $12 billion a year earlier.  Coke's case volume for the quarter fell below estimates and the company issued a warning of currency headwinds impacting its profits.  (The Street)

Shares of McDonald's were down yesterday by over 2% after the company reported a decline in its 2014 third quarter earnings results.  The fast food restaurant chain said profits for the most recent quarter was $1.06 billion, down 29% from the same time last year. McDonald's sales fell 3%. (TheStreet)

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