Business News

Tarnished Golden Arches

Coca-Cola posted better-than-expected profit and revenue in its first quarter, despite stiff foreign-exchange headwinds and a 6% decline in Diet Coke volumes. Coke said its world-wide soda and noncarbonated beverage volumes both grew 1%. Sprite volume grew 4% and Coke Zero 5%. Shares of Coke, down 6.9% over the past three months, added 2.5% in premarket trading. (WSJ)

Boeing reported first-quarter profits of $1.34 billion. The airplane builder posted revenue of $22.15 billion. Boeing expects full-year earnings in the range of $8.20 to $8.40 per share. (AP)

The Golden Arches are very tarnished this morning. McDonald’s reported profits, excluding charges of $1.01 per share. Same-store sales fell 2.3% which the company said reflected "negative guest traffic in all major segments." In the US, same-store sales fell 2.6%, while same-store sales declined by 0.6% in Europe. Same-store sales were down by 8.3% in its APMEA (Asia Pacific/Middle East/Africa) region in the first quarter.

McDonald's revenue in the first quarter totaled $5.96 billion. (Business Insider)

Buyers are returning to the housing market in ever growing numbers. Total mortgage application volume rose 2.3% last week, according to the Mortgage Bankers Association. (CNBC)


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