Coca-Cola Shares Plunge After Trimming Full-Year Profit Forecast

Shares of The Coca-Cola Co. plummeted after issuing a profit warning on Tuesday, making it theStreet's Move of the Day. The world's largest beverage company reported that several factors including flat-lining sales and heavy restructuring costs led to its lower-than-expected third quarter earnings results. Coke outlined its plans to cut $3 billion in costs by 2019, as well as warning that it expects 2014 profit to fall below its long-term earnings per share growth targets. The story was different as night and day compared to its competitor, PepsiCo which raised its full year forecast earlier this month, as it posted better-than-expected third quarter profits. Shares of Coca-Cola fell roughly 6% to close on triple its normal trading volume.