Coca-Cola Stock Price Falls After Sharing 2019 Forecast

The soft drink giant Coca-Cola watched shares tumble today after giving an unimpressive projection for this year’s earnings, according to an article by CNBC.

According to the article, Coke’s stock price fell 7.5 percent on Thursday, a plunge on track with the 8.67 percent loss on October 9, 2008, its worst day in the past decade. Though the company saw expected earnings and even double-digit growth for Coke Zero products in its fourth quarter, it projected that 2019 earnings per share could rise or fall 1 percent, according to the article. CEO James Quincey reportedly told analysts that the disappointing forecast is a result of currency fluctuations, federal rate increases and changing taxes.

"We are being prudent in our outlook for 2019 given the multiple reductions in global economic growth outlook for 2018 and our own experiences in some of the emerging and developing markets," Quincey is quoted in the article.