Coca Cola Co Stock Price, News & Analysis

vitaminwater launches the 'Paint Your Rent' campaign, offering fans a chance to win free rent for a year and custom design services from Havenly. Five winners will receive a $20,556 check to cover rent, based on the national average of $1,713 per month. The contest, running until August 27, 2024, invites participants to share photos of their favorite vitaminwater flavor in a space needing a makeover.

To inspire entrants, vitaminwater collaborated with Havenly to create AI-generated mood boards based on five iconic flavors. These boards showcase how vitaminwater colors can be incorporated into home décor, aligning with the current trend towards more colorful design choices. The campaign aims to bring vibrancy to living spaces while addressing the challenge of high rent prices.

Fanta® and Warner Bros. Pictures have announced a global partnership for the upcoming movie Beetlejuice Beetlejuice, set to release on September 6th, 2024. The collaboration includes a -Edition Fanta® Beetlejuice flavor and character-themed packaging for the entire Fanta range. Products will feature QR codes for exclusive experiences, including chances to win movie tickets.

The partnership aims to celebrate Halloween and encourage consumers to 'Summon What You Wanta' through various activations in September and October. Fanta® will offer virtual and in-person immersive experiences related to the film. The -edition products will be available in over 50 markets globally starting August 12th.

The U.S. Tax Court has entered a decision in the ongoing tax dispute between The Coca-Cola Company (KO) and the U.S. Internal Revenue Service. The decision reflects a liability of approximately $2.7 billion, with the total amount anticipated to be around $6.0 billion including interest. Coca-Cola strongly disagrees with the IRS and Tax Court's interpretation and application of regulations and plans to appeal the decision within the next 90 days to the U.S. Court of Appeals for the Eleventh Circuit.

The dispute originated in 2015 when the IRS sought $3.3 billion in additional federal income tax for 2007-2009, reallocating over $9 billion of income from foreign affiliates to the U.S. parent company. Coca-Cola believes it will prevail on appeal regarding issues raised in both the 2020 and 2023 Tax Court opinions. The company has provided guidance on potential outcomes in its SEC filings, including the Form 10-Q filed on July 29, 2024.

The Coca-Cola Company (NYSE: KO) has announced two key developments: the election of Carlos Pagoaga as a new corporate officer and vice president, and the declaration of its regular quarterly dividend. Pagoaga, who began his new role on June 1, will serve as Vice President of Global Community Affairs and President of The Coca-Cola Foundation. He will manage all Foundation operations, including grant making and regulatory compliance for philanthropy.

The company has also declared a quarterly dividend of 48.5 cents per common share, payable on October 1 to shareowners of record as of the close of business on September 13. This announcement reaffirms Coca-Cola's commitment to shareholder returns and its financial stability.

The Coca-Cola Company (KO) has announced the retirement of three long-serving board members: Barry Diller, Alexis Herman, and Marc Bolland, effective Aug. 1. These directors have collectively served on the board for 48 years. Chairman and CEO James Quincey expressed gratitude for their significant contributions and leadership. The company plans to continue its ongoing efforts to refresh the board with new directors, ensuring that future nominees contribute to the collective expertise of the board. Quincey emphasized that the current board is well-equipped to oversee the business and represent shareholder interests.

Coca-Cola Company (KO) reported its Q2 2024 results with a 2% increase in global unit case volume and a 3% rise in net revenues to $12.4 billion. Organic revenues grew by 15%, driven by a 9% increase in price/mix and a 6% growth in concentrate sales. Operating income rose 10%, with a comparable currency-neutral operating income increase of 18%. The operating margin improved to 21.3%, up from 20.1% the previous year. However, EPS declined by 5% to $0.56, though comparable EPS grew by 7% to $0.84. Cash flow from operations decreased by $516 million to $4.1 billion, and free cash flow fell by $693 million to $3.3 billion.

Geographically, unit case volume was stable in developed markets but saw mid-single-digit growth in developing and emerging markets, notably in India, Brazil, and the Philippines. Coca-Cola Zero Sugar grew by 6%, and Powerade volume increased by 6% in the quarter. CEO James Quincey expressed confidence in the company's ability to meet its raised 2024 guidance and long-term objectives.

Burger King is set to launch a new Fiery Menu nationwide in the U.S. on July 18, 2024, featuring five spicy items with varying levels of heat. The new menu includes Fiery Strawberry & Sprite® (Spice Level 1), Fiery Mozzarella Fries (Spice Level 2), Fiery Bacon Whopper (Spice Level 3), Fiery Chicken Fries (Spice Level 4), and the Fiery Royal Crispy Chicken Sandwich (Spice Level 5). Each item offers a unique blend of flavors catering to spice enthusiasts. Additionally, Burger King will offer Hidden Valley Ranch® dip cups to complement the new Fiery items. The Fiery Menu will be available for a time at participating locations, while Hidden Valley Ranch will become a permanent menu fixture.

The Coca-Cola Company (NYSE: KO) will release its second quarter 2024 financial results on July 23, before the New York Stock Exchange opens. The results will be followed by an investor conference call at 8:30 a.m. ET, accessible via a webcast on Coca-Cola's investor website. Downloadable files and a transcript will be available within 24 hours after the call.

Coca-Cola operates in over 200 countries and offers a diverse beverage portfolio, including billion-dollar brands like Coca-Cola, Sprite, and Fanta. The company is committed to sustainable practices, such as reducing sugar in drinks and improving packaging recycling.

The Fresh Market, in collaboration with Coca-Cola, has launched an exciting sweepstakes, offering participants a chance to win a lifetime supply of Hot & Fresh Pizza and Coca-Cola. This promotion highlights the popularity of pizza, with 83% of consumers having enjoyed pizza recently. From June 19 to August 13, 2024, members of The Fresh Market Ultimate Loyalty Experience will be automatically entered into the sweepstakes with qualifying purchases, or they can enter via an online form. The grand prize includes free pizza and Coca-Cola for life, while each of the 162 Fresh Market stores will select a winner for a year's supply. Additionally, The Fresh Market is offering special pizza bundles until December 31, 2024, and launching a Hot & Fresh Pizza Club with incentives for frequent purchases. A taste test revealed that 61% of participants preferred The Fresh Market's Hot & Fresh Pepperoni Pizza over Domino's.