Coca-Cola Nears Record High as Stable Image Gives It Edge: Chartby
Coca-Cola Co. is trading near record territory -- despite a broader market decline -- in a sign that investors are seeking safe bets. Though the beverage giant is struggling with declining soda consumption and foreign-exchange headwinds, it’s still seen as a a reliable source of net income and dividends. And it has the blessing of Warren Buffett’s Berkshire Hathaway Inc., Coca-Cola’s biggest investor. “Investors are looking for safety No. 1,” said Jack Russo, an analyst at Edward Jones & Co.