Companies are out making big moves in the stock market for October 2019. For starters, shares of Coca-Cola had a market gain of 2.5%. It happened noontime after the news regarding Coke Zero spread out. According to the company’s report for the third quarter, Coke Zero is making money from its demand in the market. With that, investors began cornering KO (The Coca Cola Company) shares when they saw that double-digit growth in its volume.
Same goes for Intuitive Surgical, a medical corporation that develops and manufactures robotics for medical use. They had a 5.5% gain, after reports show of a profit of $3.43 per share, for their shareholders! Their flagship product, the Da Vinci Surgical Systems, has an annual growth of 20% year after year! It led to UBS raising the price on the stock to $590, which suggested an 11% gain before the market closed.
Shares of the Chipotle Mexican Grill also raised more than 1%. It happened when Bank of America made a neutral rating on their stock. Events like the drop in avocado prices and Chipotle’s sales momentum can drive the stock higher shortly.
Financial corporations like E*Trade Financial’s shares also jumped to 5%. Reports mention savings of $1.08 per share, with 7 cents a share exceeding evaluations. They also plan to take more market share by doing zero-commission trading.
But not all big moves are triumphant. Big brands such as Johnson & Johnson, Crowdstrike and L-Brands did not do quite well. L-Brands, a fashion retailer, had more than 7.5% plunge in the stock market. The reasons? Underperformances of the brands that they carry, which include Victoria Secret, Macy’s and Gap. Johnson & Johnson’s stock fell more than 4% when they began retracting baby powder after traces of asbestos were found in them. As for Crowdstrike, a cybersecurity technology company, their growth became too costly, with their stock falling to 6.7%.