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Coca-Cola Co. (KO) saw its first-quarter profits rise 19 percent on a 21 percent increase in sales. These results beat the expectations of Wall Street analysts. The Atlanta-based company said Wednesday its profit was $1.50 billion, or 64 cents a share, for the three-month period ending March 28. This compared to a profit of $1.26 billion, or 54 cents a share, in the same period a year earlier. Analysts polled by Thomson Financial were expecting earnings of 63 cents a share in the quarter.
On the heels of KO's good earnings report and its FusionIQ Master technical score of 94 - we would suggest KO shares are worth looking at here as both the technical and fundamentals support a higher outlook. Additionally KO's defensive nature as a beverage company is likely attracting buyers in this period of uncertainty.
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