Coca-Cola: Chevron, Wal-Mart: Dow Midday Movers

NEW YORK ( TheStreet) -- U.S. stocks were climbing midday Tuesday after the International Monetary Fund raised its global outlook and amid positive first-quarter earnings reports from companies such as Coca-Cola ( KO).

The Dow Jones Industrial Average rose 170.71 points to 13,092.12. Leading the Dow higher were Coca-Cola, Chevron ( CVX) and Wal-Mart ( WMT).

Shares of Coca-Cola rose 2.61% to $74.33. The beverage company reported first-quarter net income of $2.05 billion, or 89 cents a share, up from year-earlier earnings of $1.9 billion, or 82 cents.

Coca-Cola's stock hit a 52-week high Tuesday of $74.48. The stock's 52-week low of $63.34 was set on Oct. 4.

TheStreet Ratings gives Coca-Cola an A grade with a buy rating and $83.41 price target.

Chevron shares gained 2.2% to $103.74. In the news Tuesday, Chevron's Australian subsidiaries signed an agreement with Chubu Electric Power to deliver liquefied natural gas from Chevron's Wheatstone.

Chevron get an A grade from TheStreet Ratings with a buy rating and $126.41 price target.

Shares of Wal-Mart rose 1.8% to $61.67. CEO Mike Dunn's 2011 pay fell 3% to $18.1 million as his bonus, which is based on performance, dropped, The Associated Press reported.

TheStreet Ratings gives Wal-Mart an A grade with a buy rating and $69.46 price target.

The only decliner in the index midday was Johnson & Johnson ( JNJ). Shares dropped 13 cents, or 0.2%, to $63.85.

The consumer goods and drugs company reported first-quarter earnings excluding special items Tuesday of $3.8 billion, or $1.37 a share. Analysts, on average, were expecting earnings of $1.35 a share.

Though Johnson & Johnson's profit beat estimates, its global sales fell 2.4% in the first quarter.

TheStreet Ratings gives Johnson & Johnson a B- grade with a buy rating and $74.09 price target.

-- Written by Alexandra Zendrian

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