Pepsi Climbs After Earnings
Pepsi (NYSE: PEP) reported earnings early on Wednesday. The company beat expectations, reporting an EPS of $1.12 compared to the estimated $1.09.
In Pepsi's conference call, the company noted that big acquisitions are not a priority at this time. The CFO noted that they didn't believe corn prices will be a concern in 2012 and they see strong price increases in the coming year. The company sees weakness in groceries as convenience improves. In addition, Pepsi said it plans to introduce a green coffee juice-based energy drink.
On Wednesday morning Pepsi traded up roughly 1% on the session.
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