Market Currents

• Tuesday, October 27, 2009

• 10:53 AM PepsiCo (PEP +0.6%) receives the EC's blessings for its $7.8B deal to buy Pepsi Bottling Group (PBG +0.4%), despite some overlap in their businesses. "The proposed transaction would not significantly change the market structure. Consequently, the Commission concluded that the transaction would not raise competition concerns," it said. Comment!

• Tuesday, October 6, 2009

• 07:15 AM Pepsi Bottling Group (PBG): FQ3 EPS of $1.06 beats by $0.01. Revenue of $3.63B (-4.7%) vs. $3.73B. Company says easing commodity costs and diminished foreign currency headwinds are driving sequential improvement in performance vs. H1. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: GIGM, PBG Comment!

• Tuesday, August 4, 2009

• 09:22 AM PepsiCo (PEP) reaches a $7.8B deal to buy Pepsi Bottling Group (PBG) and PepsiAmericas (PAS). The price represents a more than 20% premium over previous offers to buy the two in April. PEP +3.6% premarket; PBG +7.6%; PAS +8.6%. Comment!

• Wednesday, July 8, 2009

• 06:59 AM Pepsi Bottling Group (PBG): Q2 EPS of $0.78 beats by $0.05. Revenue of $3.3B (-7%) vs. $3.4B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: FDO, PBG Comment!

• Monday, July 6, 2009

• 07:39 AM PepsiCo (PEP) and Pepsi Bottling Group (PBG) plan to invest another $1B in Russia over the next three years to expand their manufacturing and distribution network, bringing their total investment in the country to over $4B. Comment!

• Monday, June 8, 2009

• 14:52 PM Pepsi Bottling Group (PBG) signs a letter of intent to buy Ab-Tex Beverage. This is the latest in a series of acquisitions for Pepsi Bottling, which has signaled it wants to grow on its own and not be acquired at the price offered by PepsiCo (PEP). Comment!

• Tuesday, May 12, 2009

• 08:51 AM PepsiCo (PEP) files a lawsuit against Pepsi Bottling Group (PBG), claiming the takeover target intentionally held a board meeting without including directors associated with PepsiCo. PepsiCo wants the actions of Monday's meeting invalidated. Comment!

• Monday, May 4, 2009

• 08:48 AM Pepsi Bottling Group (PBG) rejects a bid from PepsiCo (PEP) for the part of the bottling company it doesn't already own, calling the bid 'grossly inadequate.' Premarket: PBG -1.2%. (PR) Comment!

• Wednesday, April 22, 2009

• 06:58 AM Pepsi Bottling Group (PBG): Q1 EPS of $0.10 beats by $0.05. Revenue of $2.5B (-5.4%) in-line. Raises FY '09 guidance to $2.20-2.30 EPS vs. $2.19 consensus. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AAI, APD, ATI, BA, CAL, CFR, DOV, ECA, ELN, FCX, GENZ, GNTX, IR, KMB, MCD, MO, MS, NITE, NOC, PBG, PDS, R, SNV, STJ, SY, T, TIN, WFC, WLP Comment!

• Monday, April 20, 2009

• 09:00 AM Premarket gainers: JAVA +37%. PPHM +23%. PBG +18%. QTM +10%. LVS +6%. CDE +5%. HMY +5%. PALM +4%. AIB +4%. DNDN +4%. AUY +4%.
  Losers: BBEP -30%. MT -9%. ING -9%. BCS -8%. CSE -8%. DB -8%. BAC -8%. HBC -8%. C -8%. MGM -7%. IAG -7%. RTP -7%. ETFC -7%. COF -6%. ALU -6%. WFC -6%. RF -6%. ACAS -6%. CCL -6%. HBAN -6%. ERIC -5%. ORCL -5%. IFX -5%. TCK -5%. SOL -5%. NVDA -5%. PHG -5%. Comment!
• 03:27 AM Pepsi (PEP) offers around $6B in cash and stock to buy out other shareholders of its two biggest bottlers, Pepsi Bottling Group (PBG) and PepsiAmericas (PAS). The move would give Pepsi greater control over North American sales. (PR) Comment!

• Tuesday, February 10, 2009

• 07:19 AM Pepsi Bottling Group (PBG): Q4 EPS of $0.30 beats by $0.05. Revenue of $3.8B (-5.6%) vs. $3.9B. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: ACM, ARW, CVH, CXW, DTV, ELN, HCP, HERO, ICE, OMC, PBG, PNX, Q, TAP, TRA, UMC, VSH, YGE
    Comment!