Pepsico’s (NYSE:PEP) Indra Nooyi came on a telephone interview with Jim Cramer tonight on CNBC’s MAD MONEY. Cramer said he was originally excited seeing the $0.99 EPS vs $0.96 estimate, but then he was disappointed when he saw the stock fall almost 2.5% on the report. He thinks the food inflation is hurting it and he was disappointed with some of the unit growth.
Cramer then interviewed Ms. Nooyi said Pepsi is committed to 10% EPS growth. She made her case about the bullish side of the equation, but Cramer said he wants to wait to wait now for an under $70.00 stock price before pulling the trigger.
Frankly she sounded either a little defensive or maybe a little too surprised, particularly since she started out saying the equivalent of "I have no idea why the stock acted the way it did." That’s life in the markets. Sometimes good isn’t enough after a big run, although shares are only up about 16% from the lows over the last year. Maybe that’s huge for a food and beverage company.
Jon C. Ogg
October 11, 2007
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