🚀 Coke and Boeing earnings

Market Overview
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Year To Date Performances:

1. Coca-Cola reported strong second-quarter financial results that beat Wall Street expectations, prompting the beverage giant to raise its full-year outlook despite broader macroeconomic and inflationary pressures on consumers. Driven by a 5% increase in global unit case volume, led by a surge in demand during its global World Cup campaign, net sales rose 7% to $13.38 billion USD, while adjusted earnings reached $0.97 USD per share against analyst estimates of $0.93 USD. The company saw broad-based growth across all product categories, highlighted by a 16% volume jump in Coca-Cola Zero Sugar, an 8% increase in Powerade, and a 20% surge for the reformulated Mr. Pibb brand. Following the resilient quarterly performance and 3% volume growth in North America even as high gas prices squeezed shoppers, Coca-Cola raised its full-year comparable earnings per share growth guidance to between 9% and 10% and narrowed its organic revenue growth forecast to approximately 5%.

2. Boeing reported a wider-than-expected adjusted loss of 76 cents per share for the second quarter, missing Wall Street estimates of a 30-cent loss primarily due to a $280 million USD charge on its long-delayed Air Force One replacement program. Despite posting a net loss of $428 million USD—an improvement from a $612 million USD loss a year prior—the aerospace giant grew total revenue by 8% year-over-year to $24.56 billion USD, topping analyst expectations of $24.25 billion USD as commercial aircraft deliveries rose 14% to 171 planes. Free cash flow also rebounded significantly to $631 million USD, far surpassing the $177 million USD cash burn projected by analysts, supported by increased production of its bestselling 737 Max to 47 airplanes per month. CEO Kelly Ortberg emphasized that the company still targets 2028 for its first Air Force One delivery while advancing certification efforts for upcoming aircraft development programs including the 737 Max 7, 737 Max 10, and 777X.

3. Congressional lawmakers are renewing efforts to close a lucrative tax loophole that allows cryptocurrency investors to bypass "wash sale" rules applied to traditional financial assets like stocks and bonds. Because the IRS treats digital assets as property rather than securities, crypto investors can execute tax-loss harvesting—selling holdings at a loss to reduce capital gains or income taxes—and immediately repurchase the same assets without waiting the standard 30 days required for traditional securities. House Budget Committee Chairman Jodey Arrington (R-Texas) introduced H.R. 9172, the Applying Existing Tax Anti-Abuse Rules to Digital Assets Act, which aims to extend wash sale and constructive sale rules to digital assets. Supported by House Ways and Means Committee Chairman Jason Smith, the proposal reflects growing Republican alignment with long-standing Democratic efforts to regulate crypto taxation, with the U.S. Treasury previously estimating such measures could raise nearly $24 billion USD in revenue over a decade. Driven by a broader crypto market downturn—where Bitcoin has dropped roughly 50% from its October 2025 peak—the legislation seeks to establish tax parity across asset classes, though analysts note it faces a tight legislative window ahead of upcoming midterm elections.

   Headlines

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