Stock market today: Live updates

Coca-Cola fell 0.3% in Tuesday’s market pre-open, despite stronger-than-expected profits.

The soda maker earned 72 cents per share, excluding items, on revenue of $11.30 billion. Analysts polled by LSEG expected just 70 cents per share and revenue of $11.01 billion.

Coca-Cola also raised its organic revenue guidance for the full year.

—Alex Harring, Amélia Lucas

European stocks were mixed on Tuesday, with the benchmark Stoxx 600 index opening slightly lower and trading 0.07% lower at 8:20 a.m.

Britain’s FTSE 100 index rose 0.38%, while France’s CAC 40 fell 0.1% and Germany’s DAX fell 0.1%.

—Sophie Kiderlin

Chinese factory activity rose faster than expected in April, with the official purchasing managers’ index coming in at 50.4 versus 50.3 expected in a Reuters survey.

The expansion in factory activity was lower than the 50.8 seen in March.

Separately, the non-manufacturing PMI slowed to 51.2 from 53.0, with the composite PMI for April also falling to 51.7 from 52.7.

-Lim Hui Jie

South Korea’s industrial production fell to a 15-month low in March, according to data released by the government.

In March, industrial production fell 3.2% month-over-month on a seasonally adjusted basis, after increasing 2.9% in February.

The March figure also marked the biggest drop in industrial production since December 2022, according to LSEG data.

That figure fell short of expectations in a Reuters survey for a 0.6 percent month-on-month increase.

-Shreyashi Sanyal

The volatility observed in the yen was due to intervention by Japanese authorities, the Wall Street Journal reported Monday evening.

Citing people familiar with the matter, the WSJ reported that Japan had intervened to support the yen by selling U.S. dollars and buying back yen.

The currency weakened to a 34-year low of 160.03 against the greenback, before suddenly strengthening around the 155 level.

Japan’s top foreign exchange diplomat, Masato Kanda, declined to say whether the Finance Ministry had intervened, adding that authorities were prepared to deal with foreign exchange issues “around the clock”, Reuters reported on Tuesday.

-Lim Hui Jie

Check out the businesses making headlines after hours.

• Paramount Global — Shares rose less than 1% after CBS television parent company announced that its CEO, Bob Bakish, would resign and be replaced by a “CEO office.” The news comes as Paramount reported earnings per share of 62 cents, beating the 36 cents expected by analysts surveyed by LSEG. Otherwise, revenue of $7.69 billion fell short of the expected $7.73 billion.
• Chegg — Education technology stock fell more than 7%. Chegg announced a CEO change and issued disappointing second-quarter revenue guidance of $159 million to $161 million, lower than the $174 million expected by analysts surveyed by LSEG.
• NXP Semiconductors — Shares jumped more than 5% after the chipmaker reported adjusted earnings of $3.24 per share, higher than the LSEG consensus estimate of $3.16 per share. Revenue of $3.13 billion was in line with forecasts.

Read the full list here.

-Sarah Min

Stock futures opened little changed Monday evening.

Dow Jones Industrial Average futures rose 2 points, or 0.01%. S&P 500 futures were flat, while Nasdaq 100 futures rose 0.04%.

-Sarah Min