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News Breaks
April 15, 2014
07:34 EDTKOCoca-Cola: Change in exchange rates to have unfavorable impact on op. income
The company says "Based on recent changes to the Venezuelan currency exchange rate mechanisms, we changed the exchange rate we used to remeasure our Venezuelan subsidiary’s financial statements into U.S. dollars... Based on our current projections, we expect this change in exchange rates to have an unfavorable currency impact on our operating income for the remainder of 2014. Additionally, the Venezuelan government issued a new law on fair pricing establishing the maximum profit a business can earn in Venezuela. We are currently evaluating the impact the new law may have on our 2014 operating results. The bottling transactions completed in 2013 are anticipated to have an unfavorable 1% structural impact on both our full-year 2014 net revenues and operating income, with the full impact occurring in the first half of the year. Currency exchange rates are expected to have an unfavorable impact on our reported results in 2014. Based on current spot rates, our existing hedge positions, and the cycling of our prior year rates, we estimate currency will be an approximate 7% headwind on our full-year operating income, and an approximate 7% headwind on our second quarter operating income. This outlook reflects the negative impact of the Venezuela devaluation, partially offset by slight improvements in other currencies as compared to the outlook we provided at the time of our year-end 2013 earnings release."
News For KO From The Last 14 Days
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August 25, 2015
07:08 EDTKOCoca-Cola says to meet 2020 water replenishment goal by end of 2015
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August 23, 2015
13:36 EDTKOCoca-Cola shares could return 30% over next few years, Barron's says
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August 20, 2015
19:53 EDTKORetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
18:49 EDTKOCoca-Cola CEO says 'we'll do better' on research funding, WSJ reports
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August 19, 2015
14:25 EDTKOCoca-Cola has option for outright purchase of Suja, Bloomberg says
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14:13 EDTKOCoca-Cola said to have option to eventually buy Suja, Bloomberg says
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11:48 EDTKOCoca-Cola makes minority investment in Suja, Suja says in blog
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