New Delhi, July 12 -- Saturday will see Norway and England face off in the 2026 World Cup quarterfinals, as will Argentina and Switzerland. But while the games will take place in Miami, Fla., and Kansas City, Mo., respectively, the excitement is mostly elsewhere, after the U.S. was knocked out of the tournament earlier this week. Investors looking for a World Cup bump might be feeling similarly let down.

While Tartan Army, as fans of the Scottish national team are known, famously drank Boston's local bars dry during their match, there was "no sign of a World Cup boost" for many beverage companies that TD Cowen's Robert Moscow covers.

Non-alcoholic beverages at least showed increased consumption, but that growth slowed to 2.2% in the las...