Dow declined 176, decliners over advancers about 3-1 & NAZ gave back 131. The MLP index was flattish near 171 & the REIT index fell 1 to the 418s. Junk bond funds crawled higher & Treasuries saw limited selling. Oil fluctuated in the low 63s & gold was off off 4 to 1773 after recent strength.
AMJ (Alerian MLP index tracking fund)
|
|
Coca-Cola (KO), a Dow stock & Dividend Aristocrat, trounced estimates for quarterly profit & revenue, fueled by strong demand for its sodas as vaccine rollouts & relaxed restrictions in Asia encouraged consumers to return to their
pre-pandemic routines. Volumes, a key demand indicator, returned to 2019 levels in Mar. "We
are encouraged by improvements in our business, especially in markets
where vaccine availability is increasing and economies are opening up,"
CEO James Quincey said. Consumers bought more sodas in China & India offsetting weakness in
the US & Western Europe, where restrictions were more
stringent & consumers preferred to snack or cook more at home. The company
heavily depends on away-from-home channels such as sporting events,
restaurants & theaters to generate its sales. Unit case volume was flat in Q1, after declining for all of last year, while organic sales grew 6%. Net revenue rose about 5% to $9B - the first increase after 4 qtrs of declines - above the average estimate of $8.6B. Excluding one-time items, EPS rose to 55¢ compared with estimates of 50¢. The stock went up 51¢.
If you would like to learn more about KO, click on this link:
club.ino.com/trend/analysis/stock/KO?a_aid=CD3289&a_bid=6ae5b6f7
Coca-Cola results lifted by vaccine rollouts as restaurants, venues reopen
The US will see a significant reduction in new coronavirus infections in the coming weeks, Dr Scott Gottlieb predicted. “I think we’re going to start to see the pandemic roll over in the US, in terms of cases coming down,” he added. However, the former Food & Drug Administration chief cautioned that, even if the top-line number of new infections falls, “we’re still going to have outbreaks in some parts of the country.” “We’re never going to virtually eliminate this virus,” said Gottlieb, reiterating a concern he raised Fri when he warned that vaccine hesitancy in the US makes it unlikely that the nation will eradicate Covid like it’s done with other diseases, such as polio & smallpox. “But I think you’re going to start to see cases come down quite dramatically as we get into May,” said Gottlieb. Today, the 7-day average of daily new coronavirus cases in the US was about 67K, according to Johns Hopkins University. That figure is down slightly from one week ago, although it represents an increase from levels seen in late Mar & on par with last summer's surge. Deaths from the disease have fallen more considerably in the US. The 7-day average of daily new Covid deaths today was 723, which is down 25% compared with one week ago.
Dr. Gottlieb sees U.S. Covid cases falling ‘quite dramatically’ in coming weeks
Centers for Disease Control & Prevention (CDC) data shows 3.5M vaccine doses reported administered across the US. The 7-day average of daily shots given has held above 3M for 12 straight days. ½ of all American adults have now received at least one dose of a Covid vaccine, according to the CDC. The milestone comes as Pres Biden's deadline arrives for states to expand their vaccine eligibility requirements. Biden asked states to open appointments to all US adults by Apr 19. Biden said in a video that states have met that deadline & encouraged Americans to get the vaccine. The nationwide level of daily new coronavirus cases remains elevated at an average of about 67K per day, up 26% from last month's lows but down slightly from one week ago. The US is reporting an average of more than 3M daily vaccine doses administered over the past 7 days, according to CDC data & the CDC reported that ½ of all US adults have gotten at least one shot. Of those aged 65 & older, 81% have received one dose or more & roughly 2/3 are fully vaccinated. Nearly 40% of the total US population, including those not currently eligible for available vaccines, has received at least one dose of a Covid vaccine, CDC data shows & more than 25% is fully vaccinated.
U.S. vaccinations hold steady as deadline arrives to expand eligibility
The Dow chart below shows an impressive rally this year. Investors may be taking a break today to assess the vaccine data. While it looks good, improvements in living conditions seem to be limited with inconstant messaging from the "experts."
Dow Jones Industrials
No comments:
Post a Comment