Why Coca-Cola Was Falling Today
Shares of Coca-Cola (NYSE: KO) fell as much as 2.5% on Tuesday, before recovering to a 1.5% decline on the day.
The iconic beverage company, which is also a core holding of Warren Buffett's conglomerate Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), reported earnings this morning. While the results and outlook weren't all bad, the mixed picture apparently wasn't enough to justify the stock's recent run-up at the start of the year.
In the fourth quarter, Coca-Cola grew revenue by 2.6% to $11.8 billion, missing estimates, but adjusted (non-GAAP) earnings per share grew 6% to $0.58, beating expectations by $0.02.
Source Fool.com
