Coca-Cola Shares Fourth-Quarter Earnings
Yesterday the Coca-Cola Co. discussed its 2014 fourth-quarter earnings in an investor conference call covered by The Wall Street Journal. The company reported a 55 percent drop in fourth-quarter profits, citing weakening sales overseas. Even with the drop – the company brought in $770 million compared to $1.71 billion the same period in 2013 – the company’s fourth quarter revenue of $10.87 billion surpassed analysts’ previous expectations of $10.77 billion. Coca-Cola chairman and CEO Muhtar Kent said he expects 2015 to be a “transition” year for the company, before it likely returns to healthy growth in 2016. Even so, Coke’s share price rose 2.8 percent yesterday to $42.40 on the New York Stock Exchange.
Gawker Keeps the Pressure on Coke
As if Coca-Cola didn’t have enough to deal with, Gawker Media continues to be a thorn in the company’s side, keeping up its attack on Coke’s “#MakeItHappy” ad campaign and the company on the whole in a recent piece titled “Brands Are Not Your Friends”. Calling Coke “a multinational conglomerate worth billions of dollars that sells liquid fructose poison and has a history of literally enslaving impoverished workers,” the piece also berates everyday social media users for mistaking brands as having any sort of intentions outside of selling product.
FDA Commissioner to Resign in March
After serving six years as commissioner of the U.S. Food and Drug Administration (FDA), Dr. Margaret Hamburg is stepping down from her position at the end of March. Reuters reported the news last week, and in an exclusive interview with the news outlet Hamburg explained her rationale for leaving. “This is a very challenging job full of opportunities to make a huge and enduring difference, but it is 24/7 and there are really really difficult decisions to make,” she said. Dr. Stephen Ostroff, currently the FDA’s Chief Scientist, will be stepping in as Acting Commissioner.
Capri Sun Ditches High Fructose Corn Syrup
Reuters also got the scoop that Kraft Foods Group is changing sweeteners in some of its Capri Sun drinks. Original Capri Sun drinks will swap out high fructose corn syrup for sugar, bringing its calorie count from 60 to 50. The brand’s Roarin’ Waters line will exchange corn syrup and the artificial sweetener sucralose for stevia leaf extract.
Starbucks Adds Coconut Milk as Non-Dairy Alternative
Starbucks is getting in on the country’s coconut craze, introducing coconut milk as a dairy alternative for both its hot and cold beverages. According to CNN, the coconut milk option will cost customers an additional 60 cents – as it does with soy milk- and will be available in all of Starbucks’ 12,123 U.S. locations beginning February 17.