Coke Cuts Earnings, Volume Targets
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Soft drink giant Coca-Cola Co. (KO.N: Quote, Profile, Research) , stung by a prolonged downturn in North America, Germany and other major markets, on Thursday lowered its key long-term earnings and sales targets.
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Atlanta - The Coca-Cola Co. reported a 24 percent drop in third-quarter profit on flat revenue, but beat analysts reduced expectations that were tempered after the beverage giant&#39;s previous warnings.
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The Coca-Cola Company said yesterday that profit fell 22 percent after its largest bottler wrote down the value of its North American unit on reduced soda sales and higher raw material costs.
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Coca-Cola says earnings for the rest of 2004 will lag current Wall Street expectations because of weakness in key markets, further highlighting the divergent fortunes of the world&#39;s largest soft drink maker and its top rival PepsiCo.
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U.S. stocks fell on Wednesday after a  profit warning from Coca-Cola Co. KO.N stoked fears about  corporate profits and a downgrade of the technology sector by  investment bank Goldman Sachs weighed on markets.
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Coca-Cola Enterprises Inc.  said on Tuesday it took a $2.9 billion impairment charge in 2006, and the largest bottler of Coca-Cola  drinks also said it plans to cut about 3,500 jobs, or 5 percent of its global work force.
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Coca-Cola Co. , the world's  largest soft-drink maker, on Wednesday reported lower  fourth-quarter net profit, hurt by an $2.9 billion impairment  charge at its largest bottler.
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U.S. stocks fell on Wednesday after a  profit warning from Coca-Cola Co. KO.N fueled concern about  corporate profits and a Goldman Sachs survey showed softening  corporate spending on technology.
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Soft drink giant Coca-Cola Co. (KO), stung by a prolonged downturn in North America and other markets, announced on Thursday that it was lowering key long-term earnings and sales targets.
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Coca-Cola Co.  on Thursday reported a 24 percent drop in third-quarter net income due to weak sales of its soft drinks, juices and bottled waters in Germany, North America and other key markets.
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Coca-Cola Co.  reported lower fourth-quarter earnings on Wednesday, hurt by an asset write-down at its largest bottler, but operating profit exceeded Wall Street expectations.
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PepsiAmericas Inc. PAS.N on Monday   cut its earnings outlook for full-year 2006 due to   lower-than-expected net pricing and a higher cost of goods sold   in its U.S. business.
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Coca-Cola Co. KO.N on Thursday  reported a sharp drop in quarterly net income due to weak sales  of its soft drinks, juices and bottled waters in Germany and  other key markets.
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NEW YORK, October 22  - Coca-Cola Company (KO.NYS) reported a 24% decline in its 3Q04 profits, driven primarily by the sluggish sales of its soft drink, juice and bottled water products in the US and European markets.
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Soft drink giant Coca-Cola Co. KO.N,  stung by a prolonged downturn in North America, Germany and  other major markets, on Thursday lowered its key long-term  earnings and sales targets.
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Coca-Cola Enterprises Inc. CCE.N, the  world's largest bottler of Coca-Cola soft drinks, on Thursday  forecast its earnings in 2005 would be at the lower end of the  range of analyst forecasts, and its shares fell.
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Coca-Cola Co.  on Thursday reported a 24 percent drop in quarterly net income due to weak sales of its soft drinks, juices and bottled waters in Germany and other key markets.