On July 28, Coca-Cola rose 3.7% in regular trading, reaching $89.215 per share with turnover of $420 million, hitting an intraday all-time high earlier in the session.

The rally was driven by Coca-Cola's Q2 earnings release, which comprehensively beat Wall Street expectations. The company reported comparable EPS of $0.97, exceeding the $0.93 consensus estimate by 4.3%, representing an 11.5% year-over-year increase. Net operating revenue came in at $13.4 billion, surpassing the $13.162 billion estimate. Global unit case volume grew 5%, far above the expected 2.47%, with Zero Sugar Coca-Cola volume surging 16% and Powerade up 8%, boosted by FIFA World Cup marketing momentum.

Coca-Cola raised its full-year outlook, now expecting comparable EPS growth of 9%-10%, up from the prior 8%-9% guidance, and organic revenue growth at the upper end of its 4%-5% range. The company also confirmed that the Fairlife ransomware incident will not have a material financial impact. Multiple investment banks had previously raised price targets ahead of the report.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)