Jim Cramer breaks down what investors need to know about Real Money Stock of the Day Coca-Cola's (KO) - Get Coca-Cola Company Report earnings, the Cloud Kings and why investors need to pay attention to Brexit.
Real Money Stock of the Day Coca-Cola posted earnings Friday morning.
Coca-Cola said adjusted earnings for the three months ending on September 27 came in at 56 cents per share, down modestly from the same period last year and in-line with analyst expectations. Group revenues topped analysts' estimates as Coca-Cola branded drinks, including Coke Zero, notched impressive international growth rates.
"Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system," said CEO James Quincey. "We are positioning the company to create a better-shared future for all of our stakeholders by delivering on our vision and growing sustainably."
TheStreet's Martin Baccardax wrote up a piece on the Coca-Cola earnings. But what does Cramer have to say?
What's Going on With the Cloud Kings?
Cramer penned a piece on the pain the Cloud Kings are feeling over on Real Money Friday morning.
"Unfortunately, because of their size and their long-term leadership positions, the damage might be lasting. Investors have long since regarded the stocks that dominate the cloud space as immune to the slings and arrows of the world's economy, because of their clients' endless drive to digitize and get off the expensive on-premises software and migrate quickly to the cheaper, faster, better cloud," wrote Cramer.
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