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Coca-Cola sales beat estimates, helped by higher prices
  + stars: | 2024-02-13 | by ( Amelia Lucas | ) www.cnbc.com   time to read: 1 min
Bottles of Coca-Cola are displayed in San Anselmo, California, on April 24, 2023. Coca-Cola on Tuesday posted quarterly earnings that met expectations and sales that topped estimates, as higher pries helped the beverage maker overcome a volume decline in North America. Coke reported fourth-quarter net income of 1.97 billion, or 46 cents per share, down from $2.03 billion, or 47 cents per share, a year earlier. Excluding items, the company earned 49 cents per share. Net sales rose 7% to $10.85 billion.
Persons: pries, Coke Organizations: LSEG Locations: San Anselmo , California, North America
The cofounder of Saints Capital previously lived in San Francisco with his wife, who also works in venture capital, and had a second home in Napa. AdvertisementSawyer is one of many Californians who swapped Silicon Valley for Paradise Valley. Paradise Valley, which has been called by some the “Beverly Hills of Arizona,” is nestled into the desert hills between Phoenix and Scottsdale in Maricopa County. An aerial shot of the golf courses and swimming pools of Paradise Valley, Arizona. Tim Roberts Photography/ShutterstockOf the more recent wealthy out-of-state movers coming to Paradise Valley, Levinson said the No.
Persons: , Ken Sawyer didn’t, , Sawyer, Joan Levinson, Muhammad Ali, Stevie Nicks, Bennett Dorrance, Campbell, Bruce Halle, Tim Roberts, Levinson, ” Sawyer, Kelly Jones, ” Jones, That's, Jones, , ” Taylor Graber, Amelia, San Diego —, Taylor, Amelia Graber, Taylor Graber, Francisco, There’s, it’s Organizations: Service, Saints Capital, Business, Street Journal, Discount Tire, Arizona ., BI Locations: California, San Francisco, Napa ., Napa, Colorado, Paradise Valley , Arizona, Paradise Valley, Santa Clara County, Silicon, Arizona, Maricopa County, Santa Clara, Paradise, Beverly Hills of Arizona, Phoenix, Scottsdale, Los Angeles, Orange, Arizona . Los Angeles County, “ California, Scottsdale , Arizona, San Diego, Austin, Miami
As companies everywhere ask more and more customers to tip, workers who rely solely on tips to earn a liveable wage have gotten creative. However, she was able to find success and earn higher tips after she started recording her wholesome interactions with passengers. During that time, Rodriguez told BI she'd give away free desserts to earn higher tips. "This strategy works by going online on both platforms and accepting any delivery that pays $7 minimum and at least $1 per mile," he told BI. "The difference in tips with a red lip was wild," Hepner told BI. "
Persons: , Deanna Dixon, Uber, Dixon, Olive, Rodriguez, Joseph Kaiser, Jay, Katlyn Boss, Boss, Amelia Hepner, Hepner Organizations: Service, Business, Olive, BI Locations: Salt Lake City, pigtails
A general view of Super Bowl signage displayed in the NFL Super Bowl Experience ahead of Super Bowl LVIII on February 06, 2024 in Las Vegas, Nevada. Super Bowl 58 kicks off at 6:30 p.m. The Super Bowl is advertising's biggest stage, with companies jockeying for a limited supply of spots to get their products in front of millions of consumers. Even as linear ad revenue slips, companies know there's no opportunity guaranteed to reach more people than the Super Bowl. — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson and Jordan Novet contributed to CNBC's Super Bowl coverage.
Persons: Bob Iger, Jason Momoa, Quinta Brunson, Jenna Ortega, Tina Fey, Kate McKinnon, Pete Davidson, Addison Rae, Usher, — Amelia Lucas, Michael Wayland, Micah Washington, Gabrielle Fonrouge, Lorie Konish, Drew Richardson, Jordan Novet Organizations: NFL, Super, AFC, Kansas City Chiefs, NFC, San Francisco 49ers, Disney, CBS Locations: Las Vegas , Nevada, Las Vegas, U.S
Read previewA relative of Amelia Earhart agrees that a recent sonar image could show the iconic pilot's long-vanished aircraft. It sure looks like a plane," Kleppner told The Times of London. AdvertisementEarhart and Noonan likely disappeared about 100 miles from Howland Island, near the site of the sonar images. Romeo and his team hope to retrieve the Electra from a depth of 16,400 feet if it proves to be Earhart's plane. AdvertisementThere's no guarantee it's been found, expert saysA map of the location where Earhart's plane is believed to have gone missing along her presumed flight path.
Persons: , Amelia Earhart, Bram Kleppner, Amelia Earhart's, Earhart, Fred Noonan, Kleppner, Amy Kleppner, Amelia, who's, Tony Romeo, Romeo, it's, Lockheed Electra, Noonan, we've, Katherine Tangalakis, David Jourdan, Andrew Pietruszka, Jourdan Organizations: Service, Business, Times, Lockheed, Smithsonian Museum, Washington DC, Bettmann, US Air Force, Street Journal, Electra, Getty, CNN, Scripps Institution of Oceanography Locations: London, Atchinson , Kansas, Washington, Howland Island, California
The search for Amelia Earhart's plane
  + stars: | 2024-02-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe search for Amelia Earhart's planeTony Romeo, founder and CEO at Deep Sea Visions, joins 'The Exchange' to discuss one of aviation's greatest mysteries - the disappearance of pioneering aviator Amelia Earhart.
Persons: Amelia Earhart's, Tony Romeo, Amelia Earhart
PepsiCo on Friday reported mixed quarterly results as North American demand for its food and drinks weakened. Pepsi's organic revenue, which excludes acquisitions and divestitures, rose 4.5% in the quarter, helped by higher prices. For 2024, Pepsi now anticipates organic revenue growth of at least 4% and core constant currency earnings per share growth of at least 8%. The company previously forecast organic revenue growth on the high end of 4% to 6% and core constant currency earnings per share growth in the high single digits. Executives are expecting international organic revenue growth to top that of North America for the full year.
Organizations: Pepsi, PepsiCo, Refinitiv, Quaker Foods, Lay, Quaker Oats Locations: Las Vegas, United States, North America, America
Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as KFC, Taco Bell and Pizza Hut all reported weaker-than-expected sales. Pizza Hut reported same-store sales declines of 2%, missing expectations of 0.6% growth. The pizza chain's U.S. same-store sales shrank 4%, while its international same-store sales were flat. The Mexican-inspired chain reported same-store sales growth of 3%, missing StreetAccount estimates of 3.8%. A year earlier, the chain reported same-store sales growth of 11%, fueled by the permanent return of its cult-favorite Mexican Pizza.
Persons: Yum, Taco Bell, David Gibbs Organizations: KFC, Taco, Yum Brands, Taco Bell, Starbucks, LSEG Locations: Taco Bell, Edmonton, Edmonton , Alberta, Canada, Israel
A marine robotics company recently captured an object on the ocean floor, about 15,000 feet below the surface of the Pacific Ocean. Earhart’s flight plan was well known. According to Earhart biographer Doris Rich, the US government had obtained permits for the countries she would stop in along the way. And it fit her need of a refueling stop in the western Pacific Ocean. In 1997, pilot Elgen Long and his wife Marie Long published the book, “Amelia Earhart: The Mystery Solved.” The Longs laid out facts and solid suppositions for others to follow.
Persons: Dorothy Cochrane, Read, Dorothy Cochrane Carolyn Russo, Amelia Earhart, Fred Noonan, Howland, Earhart, , , Tony Romeo, Romeo, Noonan, Doris Rich, Roosevelt, Earhart’s, George Putnam, Rich, Itasca, Elgen Long, Marie Long, “ Amelia Earhart, reengineered, Lockheed Electra NR16020, Electra Organizations: General Aviation, Aeronautics Department, National Air and Space Museum, Smithsonian Institution, CNN, Lockheed, US Coast Guard, DSV, Coast Guard personnel, Nauticos Inc Locations: Howland Island, Lae , New Guinea, United States, Howland, Itasca, Honolulu , Hawaii
Shares of the company rose more than 1% in extended trading. The company's same-store sales rose 8.4%, beating StreetAccount estimates of 7.1%. Chipotle said foot traffic rose 7.4% in the quarter, bucking an industry-wide trend of declining visits. Restaurant giants McDonald's and Starbucks both reported traffic declines for the last three months of the year. Looking to 2024, Chipotle is forecasting full-year same-store sales growth in the mid-single-digit range and plans to open between 285 and 315 new locations.
Persons: Chipotle Organizations: LSEG, burrito, Starbucks
Read previewThe race is on to find the wreckage of Amelia Earhart's ill-fated final flight. Tony Romeo and his company, Deep Sea Vision, discovered an object of similar size and shape to Amelia Earhart's iconic plane, deep in the Pacific Ocean. Deep Sea VisionRomeo says he may have solved the mystery with his sonar scans. The same aircraft radio receiver used by Amelia Earhart was recreated by Nauticos as they researched Earhart's final transmissions. Deep Sea Vision now leases its equipment to other ocean explorers to continue funding its mission.
Persons: , Amelia Earhart's, Tony Romeo, Earhart, Fred Noonan, Romeo, he's, we've, there'll, it'll, Lockheed Electra, Nauticos, Jeff Morris, Amelia Earhart, Morris, I'm, David Jourdan, Tony, You'll Organizations: Service, US Air Force, Business, Smithsonian, Lockheed, Lockheed Electra, Coast Guard, Topical Press Agency, Getty Locations: South Carolina, Howland, Hawaii, Australia, Connecticut, Itasca, Howland Island, Norwegian, Kongsberg
McDonald's and Starbucks , two of the biggest U.S. restaurant companies, both said the Israel-Hamas war hurt their sales at the end of last year. Shares of McDonald's fell 4% in morning trading Monday, several hours after it reported that a sales slowdown in the Middle East contributed to its fourth-quarter revenue miss. Starbucks CEO Laxman Narasimhan said Tuesday that the company's sales in the Middle East struggled, but boycotts also hurt its U.S. cafes. Unlike Starbucks, McDonald's did not note any effect on its U.S. sales. Yum Brands is scheduled to report its quarterly results on Wednesday, while Restaurant Brands is slated to share its earnings on Feb. 13.
Persons: Laxman Narasimhan, McDonald's, Cowen, Andrew Charles, Chris Kempczinski, Kempczinski, Papa John's, Burger Organizations: U.S, Starbucks, Starbucks Workers, Workers United, McDonald's, Yum Brands, Restaurant Brands, CNBC PRO Locations: Tel Aviv, Israel, Gaza, Malaysia, Indonesia, France, Europe
McDonald's has upgraded its burgers — but it's unclear if its sales will get the same boost. Still, McDonald's U.S. traffic dipped in the third quarter as low-income diners cut back their visits. When the company announces its fourth-quarter results Monday morning, analysts are expecting U.S. same-store sales growth of just 4.4%, according to StreetAccount estimates. Enter McDonald's "Best Burger" initiative: small tweaks to the chain's burgers that create a noticeably more flavorful product. The cooked patties are kept hotter, so the overall burger is still warm by the time it reaches the customer.
Persons: McDonald's, Mason Smoot Organizations: McDonald's Locations: McDonald's U.S
The dim sum capital of the worldLegacy House: Legacy House's fantastic dim sum set includes steamed spotted garoupa dumplings with salted lemon. Courtesy Legacy House Forum: This three-Michelin-star restaurant, which serves classic Cantonese dim sum dishes, is famed for its impeccable attention to detail. Tai Wai Dining Room Veggie Kingdom: Veggie Kingdom serves high-quality meat-free versions of classic dim sum dishes. Maggie Wong/CNN Spring Moon: In addition to serving delicious, classic dim sum dishes, Spring Moon's cinematic interior is an attraction in its own right. Courtesy Peninsula Hong Kong Hong Kong’s best dim sum Prev NextThis is our essential guide to Hong Kong’s best dim sum: Where to find it and how to eat it, from classic no-frills joints to Michelin-starred adventures.
Persons: Cabo San Juan del Guía, , , Heen, King Heen, Nicholas Wong, Maggie Wong, Emperor, Fook Lam, Hong Kong Hong, Hong, they’ve, Amelia Earhart’s Organizations: CNN, d’Argent, JetBlue, Japan, Port, Royal, Carnival Corporation, MSC Cruise, Cunard Cruise, CDC, Hong Kong, Hong, Golden Valley, Son Locations: Rio, Sarakiniko, Greece, Baltic, Danish, Bornholm, Cabo San Juan, Seychelles, Tokyo, Kyoto, Osaka, Hiroshima prefecture, Tomonoura, Port of Miami, Hong, Hong Kong, Veggie, Golden, Spain
Political Cartoons View All 253 ImagesHow did Deep Sea Vision detect the object that could be Earhart's plane? But it wasn't until the team reviewed sonar data in December that they saw the fuzzy yellow outline of what resembles a plane. “In the end, we came out with an image of a target that we believe very strongly is Amelia’s aircraft," Romeo told The Associated Press. But he said that Romeo’s team must provide “a forensic level of documentation” to prove it’s Earhart’s Lockheed. He would have expected to see straight wings and not swept wings, like the new sonar suggests, as well as engines.
Persons: Amelia Earhart, Tony Romeo, Electra, Romeo, Earhart, Fred Noonan, Noonan, “ Amelia, James Delgado, , Delgado, Romeo's, David Jourdan, Dorothy Cochrane, Cochrane, ’ ”, Lockheed Electra, Ole Varmer, Varmer, ” Varmer, “ It’s, , Finley, Pollard Organizations: COLUMBIA, Lockheed, Archaeologists, Pan American Airlines, Air Force, Associated Press, Navy, National Air and Space Museum, National Oceanic, Atmospheric Administration, The Ocean Foundation, Purdue Research Foundation, Purdue University in, Smithsonian, America Statehouse News Initiative, America Locations: South Carolina, Norwegian, Howland, Papua New Guinea, Hawaii, New Guinea, U.S, New Jersey, , Maritime, Connecticut, Howland Island, Purdue University in Indiana, Norfolk , Virginia
Wall Street is shaking off Starbucks' weak quarterly report, seemingly taking executives at their word that the company's challenges are "transitory." The coffee giant's stock ticked higher in morning trading, hours after it reported fiscal first-quarter earnings and revenue that missed Wall Street's estimates and lowered its full-year sales outlook. Morgan Stanley analyst Brian Harbour wrote in a note to clients that the company's earnings per share and U.S. same-store sales growth was better than some had feared, "likely supporting the stock." Executives also tried to convey that those challenges are expected to subside as fiscal 2024 progresses. While Starbucks lowered its full-year outlook for revenue and same-store sales growth, it reiterated its forecast for fiscal 2024 earnings per share growth.
Persons: Morgan Stanley, Brian Harbour, Laxman Narasimhan, Andrew Strelzik, William Blair, Sharon Zackfia Organizations: Starbucks, BMO Capital Markets Locations: U.S, Israel, China
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewExperts have rushed to weigh in following news of tantalizing sonar imagery in the hunt for Amelia Earhart's lost plane — which, even if it has not been found, could still be well-preserved in its final resting place. They were taken at a depth of 16,400 feet, about 100 miles from Howland Island in the middle of the Pacific Ocean, which Romeo's team considered one of the likeliest areas for Earhart's plane to have come down. AdvertisementThe plane is made primarily from aluminum, Jourdan told The Washington Post back in 2001, discussing a search at a similar depth and location. At those temperatures, even Earhart's charts and other papers may have been preserved, The Post and Courier reported.
Persons: , Amelia Earhart's, Tony Romeo, we've, Romeo, Katherine Tangalakis, Rebecca Rommen, Romeo doesn't, it's, Earhart, David Jourdan, Jourdan, Megan Lickliter, Mundon Organizations: Service, Street, Business, Smithsonian Institution's, Air and Space Museum, CNN, Washington Post, Courier, New York Times Locations: Howland
A Starbucks coffee cup sits on a table at one of the coffee chain's locations in Miami, Florida, on June 11, 2021. Starbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectations as both domestic and international sales fell short of estimates. In North America, same-store sales also rose 5%, driven largely by customers spending more on their drinks and food. Outside of Starbucks' home market, the coffee chain reported international same-store sales growth of 7%, missing expectations of 13.2%. China, the company's second-largest market, reported same-store sales growth of 10%.
Persons: Laxman Narasimhan Organizations: Starbucks, LSEG, Revenue Locations: Miami , Florida, North America, China
Amelia Earhart is photographed with her Lockheed Model 10-E Electra, the aircraft she used in her attempted flight around the world. “While it is possible that this could be a plane and maybe even Amelia’s plane, it is too premature to say that definitively. In Earhart’s last communications, her radio transmissions progressively got stronger as she got closer to Howland Island, indicating that she was nearing the island before she disappeared, Cochrane said. For that reason, you can never say that something is (or isn’t) from a sonar image alone,” Jourdan said in an email. Confirming that the found anomaly is Earhart’s plane would require returning to the site to further investigate the plane, and more definitively, locating the certification “NR16020” that was printed on the underside of the missing Lockheed’s wing, Jourdan said.
Persons: Amelia Earhart’s, Charleston , South Carolina —, Electra, Earhart, Amelia Earhart, , Tony Romeo, , Romeo, Fred Noonan, Andrew Pietruszka, ” Pietruszka, Noonan, Dorothy Cochrane, Cochrane, Earhart’s Lockheed Electra, David Jourdan, ” Jourdan, Jourdan, Taylor Swift, ” Cochrane Organizations: CNN —, Lockheed, Underwood, Vision, US Air Force, CNN, Scripps Institution of Oceanography, University of California, US National Archives, Group for Historic Aircraft, Smithsonian, Smithsonian National Air and Space Museum Locations: Charleston , South Carolina, Howland, Lae, Papua New Guinea, San Diego, Marshall, Saipan, Nikumaroro, Kiribati
It is one of the greatest enduring mysteries in aviation history: the disappearance of Amelia Earhart after she took off from Lae, New Guinea, in a Lockheed 10-E Electra on July 2, 1937. Earhart was trying to become the first woman to fly around the world. She and a navigator, Fred Noonan, were headed to Howland Island, a tiny coral atoll in the southwestern Pacific, to refuel. For years, many have tried and failed to find the wreckage of their plane. Now, the head of a marine robotics company believes he has done it, although some experts remain deeply skeptical.
Persons: Amelia Earhart, Electra, Earhart, Fred Noonan Organizations: Lockheed Locations: Lae , New Guinea, Howland, Pacific
CNN —Legendary singer-songwriter Joni Mitchell will grace the stage of the 66th Grammy Awards on Sunday as a performer for the first time at age 80. The Recording Academy made the announcement in a news release Sunday, adding the nine-time Grammy winner to a star-studded performance lineup that includes Dua Lipa, Burna Boy, Billie Eilish, Olivia Rodrigo, Travis Scott, U2, Luke Combs and Billy Joel. Mitchell is a nominee in the Best Folk Album category for her 2023 live album “Joni Mitchell at Newport.” The album documents her surprise return to the concert stage at the 2022 Newport Folk Festival in Rhode Island – after 20 years away, according to the Recording Academy. The 22-time Grammy-winners inaugurated the venue, which is the world’s largest spherical structure and contains the world’s highest-resolution wraparound LED screen, with a series of concerts between October and December last year. The 2024 Grammys will air live on CBS and Paramount+ at 8 p.m.
Persons: Joni Mitchell, Burna, Billie Eilish, Olivia Rodrigo, Travis Scott, Luke Combs, Billy Joel, Mitchell, , Fito Páez, Amelia ”, Jeff Kravitz, Trevor Noah Organizations: CNN, Recording Academy, Dua, Newport Folk, CBS, Hall of Fame, Paramount Locations: Dua Lipa, Newport, , Rhode Island, Argentine, Woodstock
A former US intelligence officer believes he may have found the wreckage of Amelia Earhart's plane. His team used a $9 million submersible that picked up a sonar image during a 100-day expedition.
Persons: Amelia Earhart's
Amelia Earhart, 40, stands next to a Lockheed Electra 10E, before her last flight in 1937 from Oakland, California. Amelia Earhart took off from the airport in her £10,000 Flying Laboratory for Honolulu on the first leg of her round-the-world flight. A map of where Earhart's plane is believed to have gone missing along her presumed flight path. Romeo and his company, Deep Sea Vision, discovered an object of similar size and shape to Amelia Earhart's iconic plane, deep in the Pacific Ocean. Advertisement"It's very deep water, and the area that she could've possibly been in is huge," Tom Dettweiler, a sonar expert, told The Journal.
Persons: , Amelia Earhart, Tony Romeo, Fred Noonan, Romeo, I've, Dorothy Cochrane, Andrew Pietruszka, he's, Amelia Earhart's, we've, there'll, it'll, Earhart's, Tom Dettweiler, Earhart, Cochrane, I'm Organizations: Service, US Air Force, Business, Lockheed, AP, Kongsberg, Street Journal, Laboratory, Smithsonian Institution's, Air and Space Museum, Scripps Institution of Oceanography, Smithsonian, dateline Locations: Oakland , California, Norwegian, Tarawa, Kiribati, Honolulu, Howland, Honolulu , Hawaii
Small cap stocks may be on the cusp of a turnaround. According to Fairlead Strategies market technician Katie Stockton, the Russell 2000 's underperformance so far this year is likely a near-term setback. "We're kind of convinced that we'll see small caps do better. So far this year, the Russell 2000 is off two percent. Stockton believes the Russell 2000's decline has shaken investors' confidence in small caps.
Persons: Katie Stockton, Russell, CNBC's Organizations: Dow, Nasdaq, Stockton
A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC. Hundreds of thousands of restaurant jobs disappeared as bars and eateries shuttered, either temporarily or permanently. But even before Covid, restaurants struggled to hire and retain younger workers, who often seek internships instead. Chipotle on Wednesday also touted new benefits that aim to help those younger workers tackle financial challenges. Additionally, Chipotle workers can also sign up for a Credi.ai debit card, which builds credit without fees or interest.
Persons: Chipotle Organizations: Industry, of Labor Locations: Washington ,, Covid
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