The Steady Pepsi Delivers Another Quarterly Surprise And Raises Guidance
Portfolio Pulse from Upwallstreet
Pepsi Co Inc (NASDAQ:PEP) beat Q2 revenue and earnings estimates and raised its full-year outlook, causing shares to rise over 2% in premarket trading. Net sales rose 10.4% to $22.32 billion, and net income rose to $2.75 billion. However, higher prices for Pepsi snacks and drinks resulted in a volume drop of 3%. The company's rival, Coca Cola Company (NYSE:KO), also sees a strong long-term perspective despite a sluggish macroeconomic environment. Both companies are part of the S&P 500 and holdings of its trailing ETF index, SPDR S&P 500 ETF Trust (NYSE:SPY).
July 13, 2023 | 3:14 pm
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NEUTRAL IMPACT
Both Pepsi and Coca Cola are part of the S&P 500 and holdings of its trailing ETF index, SPDR S&P 500 ETF Trust.
The performance of Pepsi and Coca Cola, being part of the S&P 500, can influence the SPY ETF. However, as they are just two of many holdings, the direct impact may be limited.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Coca Cola sees a strong long-term perspective despite a sluggish macroeconomic environment.
Coca Cola's positive long-term outlook despite the challenging macroeconomic environment indicates resilience, which is likely to boost investor confidence and positively impact the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Pepsi beat Q2 estimates and raised its full-year outlook, causing a positive impact on its stock.
Pepsi's better than expected Q2 results and raised full-year outlook indicate strong performance, which is likely to boost investor confidence and positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100