Here’s Why These Blue Chip Consumer Staple Stocks are Trading in Opposite Directions
Philip Morris (NYSE:PM) is lighting up trading screens today after posting a strong earnings report. (Don’t Miss: Your Cheat Sheet to Philip Morris Earnings.) Shares of the stock are up 4.14%. The stock pays a hefty 3.61% dividend and is widely held around the world.
On the flip side, food and beverage giant PepsiCo Inc. (NYSE:PEP) had strong sales but disappointed investors by lowering expectations for future quarters on rising commodity (NYSE:RJI) costs and North American competition. The stock is down 4.34%. Looks like Wall St. Cheat Sheet’s Alexander Schachtel was correct yesterday when warning Rising Costs Will Dent Leading Drink-Makers Balance Sheets. CEO Indra Nooyi added, “The consumer in developed markets continues to be stressed, and the competitive environment in North America beverages has been particularly challenging.” Get more details in Your Cheat Sheet to PepsiCo Inc. Earnings.