NEW YORK, Jan 21, 2026, 13:04 EST — Regular session
- Coca-Cola shares slipped around 0.4%, hovering near $71.50 in early afternoon trading.
- CEO James Quincey noted that Coke remains “relatively immune to tariffs” even as markets adjust to shifting trade risks.
- Investors have their eyes on the Feb. 10 results, followed by the Feb. 17 CAGNY update for clues on 2026 costs and demand.
Shares of The Coca-Cola Company (KO) slipped roughly 0.4% to near $71.50 on Wednesday, underperforming a slight uptick in U.S. equities.
The pullback follows a day when Coke rose almost 2%, even as Wall Street posted its steepest one-day decline in three months amid renewed tariff threats from U.S. President Donald Trump. “I’m not at the point yet” to call it a correction, said Jamie Cox, managing partner at Harris Financial Group. 1
Tariffs — import taxes — have surged back into focus as a key market catalyst. This puts pressure on major consumer brands to swiftly adapt prices when costs shift.
Coca-Cola’s departing CEO James Quincey told CNBC in Davos that the company is “relatively immune to tariffs.” He noted rising costs for aluminum and resin but said Coke’s mostly local production keeps tariffs “manageable,” according to Reuters. 2
Coke climbed Tuesday on unusually strong volume, MarketWatch reported. The stock outperformed a number of consumer peers amid a tough day for the broader market.
Wednesday saw the defensive trade lose some steam. The Consumer Staples Select Sector SPDR Fund dropped around 0.4%, PepsiCo shares slid about 0.9%, while an S&P 500 tracker climbed roughly 0.3%.
The market rallied after Trump told Davos leaders he wouldn’t resort to force over Greenland. “One of the reasons why the market is bouncing back is Trump stressed that he does not intend to use force,” said Damian McIntyre, head of multi-asset solutions at Federated Hermes. 3
Coca-Cola shareholders have a key date on Feb. 10, when the company will report its fourth-quarter and full-year 2025 results before the NYSE opens. An investor call is scheduled for 8:30 a.m. ET that day. CEO-elect Henrique Braun and CFO John Murphy will also present on Feb. 17 at the CAGNY conference. 4
Traders will watch for changes in the relationship between price increases and volumes, as well as what Coke reveals about packaging and other input costs heading into 2026. Currency fluctuations often surface quickly in the guidance from a global beverage giant.
However, the situation works both ways. Should tariff policies expand or if aluminum and plastic prices surge more rapidly than anticipated, Coke might struggle to maintain its margins despite its pricing strength.
Investors have their eyes on the Feb. 1 tariff deadline, followed by Coke’s earnings on Feb. 10 and the management’s tone at CAGNY on Feb. 17.
