Moments from May 8: World Red Cross Day, VE Day, and More

World Red Cross and Red Crescent Day is celebrated every year on May 8th to honor the birth anniversary of Henry Dunant, founder of the International Committee of the Red Cross. This day was first observed in 1948 as International Red Cross Day and was later renamed World Red Cross and Red Crescent Day in 1984.

May 8, 1945 marked the end of World War II in Europe with the unconditional surrender of German forces, commemorated as Victory in Europe Day (VE Day). On May 8, 1933, Mahatma Gandhi initiated a 21-day fast to protest against untouchability.

The iconic Coca-Cola was first introduced on May 8, 1886, at Jacobs’ Pharmacy in Atlanta, Georgia by Dr. John Pemberton. May 8, 1970 saw the release of the Beatles’ final studio album, Let It Be, though it was preceded by the recording of Abbey Road.

Harry S. Truman, the 33rd President of the United States, was born on May 8, 1884. He held office from April 12, 1945, to January 20, 1953.

Pre-Market Movers: McDonald’s Misses Earnings, Stellantis Revenue Falls Short

Several companies made headlines before the opening bell on Tuesday due to their financial performance.

McDonald’s shares dropped nearly 2% after reporting lower-than-expected quarterly earnings and missing analysts’ estimates for same-store sales. Worldwide sales increased by 1.9%, falling short of the anticipated 2.1% growth.

Stellantis, formerly known as Chrysler, lost 3.6% as first-quarter revenue missed expectations. The Netherlands-based automaker’s revenue declined by 12% due to reduced sales and foreign currency effects despite strong net pricing.

Coca-Cola’s stock slipped about 0.4% despite beating analysts’ expectations slightly. The soft drink maker reported adjusted earnings per share of 72 cents and revenue of $11.30 billion.

Tesla’s shares fell 1.9% after surging 15.3% on Monday, as some investors realized gains from the previous day’s rally. The electric vehicle maker received approval from China to roll out its advanced driver-assistance service technology in the country.

Coca-Cola Earnings Preview: Analysts Forecast Increased Revenue and Earnings

The Coca-Cola Company is set to release its first-quarter earnings report on Tuesday before the market opens. Analysts surveyed by LSEG anticipate earnings per share of 70 cents and revenue of $11.01 billion. Despite a decline in volume for PepsiCo’s North American beverage business, analysts remain optimistic about demand for Coca-Cola’s products. However, a potential pullback in fast-food spending could impact Coke’s sales, as approximately half of its revenue is generated from away-from-home locations. For 2024, Coca-Cola projects organic revenue growth of 6%-7% and a 4%-5% increase in comparable earnings per share. However, the company acknowledges that foreign exchange rates may negatively affect both earnings and revenue for the full year. Coca-Cola’s stock has declined by 3.5% over the past year, reducing its market value to $267 billion.

Earnings Season Ramps Up with Key Reports from Tech Giants and More

The week of April 18-21, 2023, marks a pivotal juncture in the earnings season, with about 160 S&P 500 companies scheduled to disclose their financial results. Among the highly anticipated reports are those from Apple, Amazon, McDonald’s, Pfizer, and Coca-Cola. As of Friday’s market close, over 200 S&P 500 members had released their first-quarter earnings, with 80% surpassing analyst expectations. However, tech titans like Meta Platforms and IBM have recently stumbled after announcing their financial performance.

Just 56 Companies Responsible for Half of Branded Plastic Pollution

A recent study by Dalhousie University and global collaborators reveals that 56 companies are responsible for more than half of branded plastic pollution worldwide. The top four polluters are Coca-Cola (11%), PepsiCo (5%), Nestlé (3%), and Danone (2%). This study highlights the urgent need for greater transparency, accountability, and solutions to address the global plastic waste crisis.

Coca-Cola and Microsoft Deepen Partnership with $1.1 Billion Investment in Cloud and AI Technologies

The Coca-Cola Company and Microsoft Corp. have announced a transformative five-year partnership to drive the adoption of cloud and generative AI technologies across Coca-Cola’s global operations. This strategic move is fueled by a substantial $1.1 billion USD investment in Microsoft Cloud, reflecting Coca-Cola’s commitment to a digital-first approach. The collaboration will capitalize on Microsoft Azure and Azure OpenAI Service to enhance marketing, manufacturing, and customer service. Coca-Cola aims to streamline operations and foster innovation through advanced technology, including Microsoft 365 Copilot for workplace productivity. This partnership builds on the success of Coca-Cola’s existing collaboration with Microsoft and underscores its dedication to ongoing digital transformation.

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