Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action news and analysis.

Good afternoon, today is Tuesday, October 10th, and I'm your your host Kim Khan. Our top story so far.

Pepsico reported organic sales up 8.8% year over year in Q3 that top consensus

expectations for an increase of 8.3%. And so far, weight loss drug

Ozempick hasn't hampered demand with Pepsi CFOs saying on the conference call,

we are not seeing any impact that we can detect in our numbers right now.

Organic sales growth was led by strong gains in Europe up 13% and Africa, Middle East and South Asia,

up 17%. Pricing drove growth during the quarter again, with volume flat for the beverages business,

and now 1.5% for the convenient foods business.

Operating profit was up 20%, led by gains in the PepsiCo Beverage of North America

unit, up 24%, and Latin America up 28%.

ETS came in at 225 versus 215 consensus at 197 a year ago. Looking ahead, Pepsi now expects full year

2023 EPS to increase 13% versus prior forecasts of up 12% and continues to expect full year 2023 organic revenue to

increase 10%. CEO Ramon La Guarata says full year 2024 organic revenue and

core constant currency EPS growth is expected to be

towards the upper end of our long-term targets. In today's training, stocks are

slightly higher, but direction is far from firm. The S&P 500, NASDAQ and Dow are up around half a percent, but action is very choppy.

Buying enthusiasm and was waning a bit, after the surprise rally in the previous session as investors

managed to shake the risk-cost sentiments. Treasury yields are making big booze, but

this is mainly catch-up to global rates after the bond market was closed for

Columbus State. The 10-year treasury yield is back down

...