Coca Cola Looking To Refocus After Earnings Miss and Lowered Guidance

Following disappointing earnings and revenues this morning, Coca Cola KO announced five initiatives to drive growth and achieve the company's long term high single digit EPS growth target. -Streamlining and simplifying its operating model to speed decision making and enhance local market focus. -Expanding productivity program by targeting annualized savings of $3 billion per year by 2019. -Refocusing on its core business model. Strategically targeting brand and growth investments that leverage its global strengths. -Strategically targeting brand and growth investments that leverage its global strengths -Focusing on driving revenue and profit growth across markets while providing local operations with a clear line of sight and aligned compensation targets. The company did also state they are cautious in the near-term outlook given challenging macroeconomic conditions and it expects to be below its long-term EPS growth target in 2014 and 2015. Shares of KO are currently down 4.1 percent at 41.50 in pre-market trade.