Stocks Edged Higher at Open

U.S. stocks edged higher at open on Wednesday, helped by Dow components McDonald’s and Coca-Cola posting adjusted
quarterly profit that topped expectations. The Dow Jones Industrial Average lately fell 21.15 points, or 0.12%, to 17,928.44. The S&P 500 was off 1.70 points, or 0.08%, to 2,095.59. The Nasdaq Composite shed 8.12 points, or 0.16%, to 5,005.98.

McDonald’s Corp is developing a new turnaround plan to improve sales and profits as the company struggles to regain its footing in the highly competitive fast-food market.The company reported a first-quarter net profit that fell to $811.5 million, or 84 cents a share, from $1.2 billion, or $1.21 a share, in the year-earlier period.

Coca-Cola Co. posted better-than-expected profit and revenue in its first quarter as beverage volumes inched up 1% during the first three months of the year. In the latest quarter, Coke said its world-wide soda volumes and noncarbonated beverage volumes both grew 1%.

Google Inc. is set to unveil its new U.S. wireless service as early as Wednesday, pushing the Internet giant further into telecom and injecting fresh uncertainty into a wireless industry already locked in a price war.

Concerns over a shortage of pork drove shares of Chipotle lower before the opening bell Wednesday. The Mexican food chain has been facing a shortage since January when it suspended a major supplier over animal welfare concerns.