Tech Stocks Surge Amid Nokia's Strong Earnings and Yum! Brands' Growth

Strategic Insights -

Nokia's boost in sales and earnings outlook contributed to a surge in tech stocks today, with the company's shares rising to nearly $14 a share. This comes after a struggling period since April, where Nokia reported losing market share to rivals due to its Apache hand set portfolio. Meanwhile, Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, saw a significant increase in its stock price, with a 5% rise in U.S same-store sales in August, driven by strength in Taco Bell and Pizza Hut.

Key Takeaways:

  • Nokia's third-quarter sales and earnings outlook exceeded expectations, leading to a significant increase in its stock price.
  • Yum! Brands reported a 5% rise in U.S same-store sales in August, with strength particularly in Taco Bell and Pizza Hut.
  • Pepsi Bottling Group's stock price increased by $1.23, continuing its 40% rise over the last 12 months.
  • Coca-Cola Enterprises' warning yesterday contributed to a sharp decline in Coca-Cola's stock price, which rebounded slightly today.
  • The Coca-Cola Company's stock price was up only six cents, still reeling from last week's sharp decline.
  • Pepsi Bottling Group's diverse product portfolio, including snack foods, gave it an edge over Coca-Cola, which focuses primarily on beverages.

Statistics:

  • Nokia's stock price rose to nearly $14 a share.
  • Yum! Brands' U.S same-store sales increased by 5% in August.
  • Pepsi Bottling Group's stock price increased by $1.23 today.
  • Coca-Cola Enterprises' warning led to a 2-buck decline in Coca-Cola's stock price yesterday.
  • Coca-Cola's stock price has declined significantly since July.
  • Pepsi Bottling Group's stock has risen by nearly 40% over the last 12 months.

Sources:

*Street Sweep: Guidance from Nokia

*CNNfn

*Company: Nokia Corporation

*Ticker: NOK

*URL: http://www.nokia.com/

*Company: Yum! Brands Inc.

*Ticker: YUM

*URL: http://www.triconglobal.com/

*Company: The Pepsi Bottling Group Inc.

*Ticker: PBG

*URL: http://www.pbg.com/

*Company: The Coca-Cola Company

*Ticker: KO

*URL: http://www.cocacola.com/

*Company: Coca-Cola Enterprises Inc.

*Ticker: CCE

*URL: http://www.cokecce.com/

*CNNfn TRANSCRIPT, August 18, 2004