Coca-Cola higher after co affirms FY, 2002 earnings outlook

Shares of Coca-Cola Co moved sharply higher in late morning trade after the company affirmed its 2001 and 2002 earnings outlook and said it expects worldwide unit case volumes to grow 4-5% in the fourth quarter, in line with its previous estimates, dealers said.

At 11.29am, shares of Coca-Cola were trading $1.18 higher, or 2.54%, at 47.60. Pepsico Inc stock gained $1.80, or 3.80%, to 49.10.