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Consumer Staples : Beverages | Large Cap Blend
Based in Mexico
Company profile

Coca-Cola FEMSA, S.A.B. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities. The Company's segments include Mexico and Central America division, which comprises Mexico (including corporate operations), Guatemala, Nicaragua, Costa Rica and Panama; the South America division, which consists of Brazil, Argentina and Colombia; Venezuela, which operates in an economy with exchange control and hyper-inflation, and the Asian division, which consists of the Company's equity method investment in Coca-Cola FEMSA Philippines, Inc. The Coca-Cola trademark beverages include sparkling beverages (colas and flavored sparkling beverages), waters and still beverages (including juice drinks, coffee, teas, milk, dairy and isotonic drinks).

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$48.18
Day's Change
0.65 (1.37%)
Bid
--
Ask
--
B/A Size
--
Day's High
48.28
Day's Low
47.17
Volume
(Heavy Day)
Volume:
165,741

10-day average volume:
133,041
165,741

The Dow is on track for its best October in 6 years and third-quarter earnings are strong so far. What could go wrong?

9:49 am ET October 18, 2021 (MarketWatch)
Print

By Mark DeCambre

A traditionally troublesome month is turning out to be anything but for the stock market...so far. Who would have thought, based on the way things ended last month, and the start to the first full week of October, that investors would be sitting pretty now. Certainly not Dennis Gartman.

Yet, here we are. Look at us, as actor Paul Rudd might say.

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Indeed, the Dow Jones Industrial Average is on track for its best month since March when it rose 6.62%, FactSet data show.

The rally, in what is typically one of the weakest months of the year, has put blue-chips within 1% of its Aug. 16 record closing high at 35,625.40. And our colleagues at Dow Jones Market Data said that the index's performance so far represents the best start to October since, 2015.

The S&P 500 is off 1.45% from its record high at 4,536.95 and the Nasdaq Composite is 3.1% of from its Sept. 7 all-time high finish at 15,374.33.

It is very early days, with only 8% of the S&P 500 index companies reporting third-quarter results thus far, but at least 80% of companies are beating expectations on earnings and revenue, according to John Butters, FactSet's senior earnings analyst.

Butters says that the blended growth rate (estimates and actual results) of reporting S&P 500 companies is 30%, which would, if it holds, represent the earnings growth rate in over a decade.

On top of that, the blended net profit margin of 12.3% would mark the third-highest recorded by FactSet since it began tracking that metric in 2008. On June 30, the estimated net profit margin for the third quarter was 12%.

It certainly didn't hurt that JPMorgan Chase (JPM), Goldman Sachs (GS), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)and Morgan Stanley (MS), some of the biggest banks in the country, bested earnings estimates, Butters said.

To be sure, it isn't as if an all-clear signal has sounded for the bulls, with investors still harboring agita centered on surging inflation, stagflation, the Evergrande-fueled China property saga and an ongoing energy crisis, among other concerns.

However, the drift higher in U.S. stocks has defied the gravitational pull of those bearish factors. Maybe bulls can thank investor and market prognosticator Dennis Gartman, who after a particularly bad day in October declared the bull market dead.

That prediction may yet turn out to be true but market analyst and founder of NorthmanTrader.com, Sven Henrich, was't going to miss the opportunity to rib Gartman.

See: MarketWatch and Barron's also is gathering the most influential figures in crypto to help identify the opportunities and risks that lie ahead in digital assets on Oct. 27 and Nov. 3. Register today

However, the market is far from out of the woods. The Federal Reserve seems poised to start tapering its monthly purchases of Treasurys and mortgage-backed securities.

And MarketWatch's Vivien Lou Chen has written that stronger-than-expected U.S. inflation data for September has bond investors considering the risk that the Federal Reserve may end up being forced to tighten interest rates into a stagnating economy with persistently higher price rises.

Fed Chairman Jerome Powell is slated to give a speech at the end of this coming week that will mark the final comments from policy makers before the central bank's Nov. 2-3 policy meeting, when it's possible the start of the tapering of its bond purchases could be launched.

Will another pop in 10-year Treasury yields stall out further gains in growth or technology stocks? Will the U.S. dollar rear back up to new highs? Will bad guidance from corporations and steadily retreating profit margins ultimately darken the mood on Wall Street? Not even Gartman knows.

But for now, the bulls are riding high in October.

What's ahead in U.S. economic data this week?

Monday

Tuesday

Building permits and housing starts for September at 8:30 a.m.

Wednesday

Fed Beige Book at 2 p.m.

Thursday

Friday

A flash reading of manufacturing PMIs and services from IHS Markit due at 9:45 a.m.

Earnings reports to watch this week

Tuesday

Wednesday

Thursday

Friday

-Mark DeCambre

	

(END) Dow Jones Newswires

October 18, 2021 09:49 ET (13:49 GMT)

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