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Pepsico (PEP +3.3%) CFO Hugh Johnston dismisses the idea of splitting the company in two,...

Pepsico (PEP +3.3%) CFO Hugh Johnston dismisses the idea of splitting the company in two, saying he doesn't see the value in it. Struggles in Pepsico's drinks business while its Frito-Lay snacks business performs well have increased calls for a breakup patterned after Kraft (KFT) and Sara Lee (SLE). But PEP's Q3 earnings were a pleasant surprise in a weak economy.
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