Business

Coca-Cola slips but Wall Street rises

Trading on the NYSE Image copyright Mary Evans Picture Library

(Close): US shares rose on Wednesday, even as companies presented mixed earnings reports.

The Dow Jones was up 42.67 at 18,096.27, and the S&P 500 added 1.60 points to 2,102.40.

The tech-heavy Nasdaq index rose 3.35 points to 4,540.44.

Oil prices climbed, with the US West Texas crude benchmark rising 3.4% to $43.92 and Brent crude up 3.4% to $45.53 a barrel.

Coca-Cola shares lost most on Wednesday. Its shares fell 4.8% after it reported a drop in quarterly profits.

The company, which also makes Sprite, Fanta and Dasani, is cutting costs and refreshing branding on some products.

Shares in computer-chip-maker Intel rose 1.3%. On Tuesday the company announced it was cutting 11% of its workforce.

Yahoo shares also rose after chief executive Marissa Mayer said the company "made substantial progress toward potential strategic alternatives." Shares were up 4.2%.