SAN FRANCISCO (MarketWatch) -- The Coca-Cola Co. KO, +1.01% is likely to report lower third-quarter volumes as several key markets, including Europe, Japan, and Brazil, appear to be coming in below expectations, analysts at J. P. Morgan said in a note Friday. The investment bank said it expects the company's volumes to be up 2%, down from earlier expectations of a 3% increase. Foreign-exchange "headwinds" - a strong dollar - are likely to cloud the company's fourth quarter, the analysts added. The bank, which rates Coke "neutral," also lowered its third- and fourth-quarter EPS forecasts by a penny to 51 cents and 44 cents, respectively. Coke is expected to report third-quarter results on Oct. 21. Shares are off 0.4%.
