PepsiCo, Abbott Labs Post Mixed Quarters and 3 More Hot Stocks
PepsiCo Inc. (NYSE:PEP): Pepsi reported earnings per share of $1.24, beating by 7 cents, with revenue of $16.91 billion, which missed by $0.12 billion. Organic revenue rose 3.9 percent during the third quarter, snack volume rose by 3 percent, and beverages gained 1 percent. Organic volume fell 4 percent in the PepsiCo Americas Beverage unit; higher prices only partially offset the difference. On a positive note, new management strategies helped lift Pepsi’s gross margin rate by 70 bps during the quarter.