pepsico provided forward guidance for the first time since the pandemic began. investors honing in on this as it shows confidence in the ability to perform in the midst of all of this uncertainty. let's bring in pepsico cfo, hugh johnson. great to see you again. >> great to see you as well. cheryl: it's been awhile. i got to ask you about guidance. you are now standing out among other companies that are not offering guidance. what went into the decision between you to decide to give the street the full picture? >> i think the biggest thing was obviously, we had it for every quarter and we felt good about that but we started to see consumer trends stabilize to some degree. mobility trends are up and have gotten stable. people eating out more, it's up and it's gotten stable. we felt like we had visibility at least for the rest of the year and we thought that was valuable information for investors. we put guidance out there and it seems to have been well received. cheryl: you also reported the covid costs. we are now seeing this as the normal trend for companies, $

what it is and pepsico, too.sts are saying buyers will say i'm willing to pay more for twitter earnings david, that's not what we want we want earnings to go higher. not an analyst saying we should pay more for that same set of earnings that's what is going on with that twitter piece >> it's interesting. obviously, the stock is very strong as you see up 40, almost 50% year to date and to your point. by the way, a couple thoughts. dorsy is still the ceo i'm not sure how long that will continue at some point will he move up to executive chai executive chair. >> you know something? >> no. remember elliot is still there they're on the board jesse cohen. wasn't he going to be in africa a lot of this year and a lot of their workforce they're letting work remotely, open ended. >> ned segel is very much the spokesperson of that company >> yeah. >> and ned came out with a very hard view that analysts do not recognize. the acceleration that they had now they're beginning to recognize. >> to a certain extent the market reco

pepsico, sell it down at 137, everyone is going to raise numbers.oing to upgrade it tomorrow don't be an idiot. i'm talking to the buying who are so busy buying spacs very haven't even mentioned nikola. >> we haven't. that's been up the last couple of days. >> we have another one that laid off people, carl, that's doing well is disney we're back into the 1990s. >> i'm this i go about disney right now, jim, from a football standpoint because the nfl now has a statement that steelers/titans will be rescheduled for later in the season instead of monday, tuesday, after one additional player and one personnel member tested positive for covid-19 today. so that was a business discouraging earlier in the week, jim, although there's no indication that the season itself is beginning to fall apart. >> let me give you something really discouraging. bio reference labs tested all the players sunday and all these people involved. okay it came up with the people who had it, the original then they tested them today, they ran it three times. then they tested again an

if we're going into recession, i bet pepsico would rally four numbers.ona and modella are flying off the shelves. is do you know that we sold colgate for my charitable trust today? we told members we're take the nice game, because colgate's mainstays are too recession proof. toothpaste, tope, you use them no matter what i felt terrible selling that such a fine company. i use all their products i talk about this, and if you want to know how this works, i talk about this in confessions of -- this is as good a version as many. when my hedge fund was starting out, i just owned great franchise companies, because there's never going to be some company that will come in and take over their position but you know what? that works through periods of economic doldrums, but the stock fell apart, because the economy was on the mend. that's how these defensive stocks are trading right now you want to stay at home by peloton when in doubt the market is speaking loud and clear, the recession proof names have gone out of style, because money managers are betting on an ex

. >>> pepsico's cfo is next.re about where we've seen them maybe back off a little bit -- no, about where they were, 23 points after big gains, nasdaq arshply higher, 155. ""squawk box"" is coming right back the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works. keeping your oysters growing while keeping your business growing has you swamped. (♪ ) you need to hire i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. claim your seventy-five-dollar credit when you post your first job at indeed.com/promo >>> welcome to october what's ahead for your money, one month ahead of the election? we're going to find out. and pepsi out with quarterly results. we'll hear from the company's cfo. that interv

i don't think that's true as long as we are headed for the year you buy pepsico or campbell soup regeneron when it comes to the compelling recession, there they are. don't out think of it. we are living in a two-tale city economy. the part that's hurting does not matter to the economy. the part that's working is the publicly traded companies. we have a v-shape recovery in housing and autos. auto retails are not even experiencing a downturn. they have enjoyed an essential upturn because they are essential. all the little guys are not essential. all these work regardless of what happens the same for covid-19, they all did well today the pandemic is flaring up again. the president may have ripped his mask off yesterday, most of us will be putting them on extra tight this fall. the bottom line when it comes to the rest of the economy, what can i say? you can't buy stocks where businesses are about to go under here that will pain isra real. that's no longer in the carts. let's go to denise in minnesota. >> jimmy joe >> i will be chilling. >> this retailer is entering its busy season, it reporte

pepsico had a stronger summer than expected.sumers loaded up on the company's snacks and breakfast foods, and there was renewed growth in the north american beverage business. pepsi sees organic revenue growth at about 4% for the rest of the year. there is a sign that turnaround efforts are paying off at that bath and beyond. the chain posted quarterly sales that beat expectations. bed bath & beyond is undergoing a revamp to shake off years of stagnation and decline. and a norwegian company is suing british online growth and tech company accardo, accusing it of payment infringement. it says the platform was built on its automated storage and retrieval technology. it has a partnership with kroger in the u.s., and morrison in the u.k.. the company has previously denied infringement. a senate committee has voted to subpoena the ceos for facebook, google and twitter, asked to testify on a legal shield that is key to their online platforms' business models. agree tonies would not send them voluntarily. that is your latest business fl

tom: pepsico out with better-than-expected revenue growth and a view forward as well. bond, 1.48%.gin a three hour conversation with michael mckee, our economics and policy correspondent this morning. we are not going to do that, but we are going to go to a story that is boring and buried, but has huge symbolism. michael mckee knows it. ofthe fed, the vice chairman regulatory, mr. quarles made an announcement yesterday. michael: this is something that certainly get investors' attentions. earlier in the year, the fed suspended buybacks for banks that have over 100 billions in assets and put dividends on a formula they somewhat there over $100rmula -- billion in assets and put onidends on a formula based what their capital assets are. the fed is looking out and saying that is a possibility, and we want to make sure the banks are adequately capitalized, so they voted to extend that yesterday for another quarter. the banks have already said they are expecting huge loans. you look at the j.p. morgan chase, citigroup, and wells aside billion dollars. tom: is jamie dimon having a tantrum

everyone just ran towards them in the pandemic area talking with the pepsico ceo a number of months ago about this. that was the story, gravitation towards the brands they recognize at a time of stress. how sticky that demand is i think we are about to find out. lisa: and i find it fascinating, a social study in terms of how people respond to ape endemic. fire,sales absolutely on and the company that makes them, it is sort of a similar story to what we saw was procter & gamble , up more than 22%. people want clean homes, and they are going to be obsessed about it. jonathan: amy wu silverman of .bc, thanks for being with us can you imagine tom cleaning the apartment? lisa: no, i cannot imagine him cleaning. i've seen him do the dishes before. jonathan: and gardening. i've heard someone doing the dishes when we were doing radio from home. tom: what is so sad about that, that was after two sets of doors. they left the doors open, jon. i'm sorry. jonathan: cafe keene. those were some dark days during the pandemic. lisa: i miss it. jonathan: i don't miss it at all. tom: i don't miss it at al

are encouraged by the new leadership at ford, better than expected third quarter performance and pepsico also gets an upgrade to buy price target here $169 this is on belief that pepsi will continue to deliver top line growth between 3% and 4% and also improve margins in its north american beverage business now to what seems like an avalanche, snowflake price targets between 350 at truest and 220 add morgt morgan stanley. it's expected to replace existing sky providers it has been public a little less than a month now >> it has and it's been an amazing run, albeit short. >>> john, you buying snowflake >> i have been, scott. you know, i was angry so you don't trade well when you're angry, just like that ground hog in "ground hog day" with bill murray don't drive angry! don't buy angry. i was ticked and then i started getting in this was an alternative data and it makes it so much easier so snowflake, great stock. now they're finally getting some option volume starting to come in there, too, scott i think this will be one you really want to keep your eye on. i agree with all those analyst

. >>> pepsico says snacks are hot in a pandemic.t also higher sales of cheetos and doritos, to say titos, everything delicious, and for macaroni and cheese products, too. overall sales are up 5%. justin bieber may be wearing more rubber shoes. the singer posted an orange par of crocs with the word "soon." that sent croc shares up 10% good brigrief. nasdaq, loose at that, up almost 1.5%. >>> if you're trying to buy a new house, you better act quick, and you better be ready to pay up they're also being scooped up 12 days faster than last year prices up 10% there's a lot in there our diana olick has more. >> reporter: this was the scene from a front-door camera at a newly listed home. >> we knew we would be getting offers for it, but it was not like the ohm and volume of interest. >> they put their house on the market in august immediately got questions for showings. >> 301 days, then 500 the next day. >> reporter: they got so much interest, they decided to screen potentially buyers for financials first, and then line them up around th

apparently, pepsico is benefiting. what is this benefit because of junk food? >> well, yes. -- i'll say we, i, everyone -- did eat a lot of snackings. that's for sure. pepsico's free toe lay division in north america that sell products such as doritos and lays and others, sales were up 7% in the third quarter. in fact, snacks have done well during the pandemic. hey, guys, can you hear me? stuart: yes, i'm sorry. it was me in the background, ash. i'm sorry, it's me. can you hear me? >> that's okay. stuart: it's just -- i became addicted to doritos during the lockdown. >> oh. stuart: a fair amount of snacks here at fox, and i take a couple of bags home with me. maybe that's cheating. okay, just a couple, that's all. [laughter] i chow down on the spicy doritos. i love it. i'm sorry, i interrupted, ash. keep going. >> no, that's fine, that's fine. the pepsi sodas, though, have been hit hard. why? because of the closure of offices and restaurants. but that has changed. e pepsi says revenue for the beverage division actually gained 6% in the last three months showing, it says, tha

they are so dependent on that away from home business i'll give you a comparison, the biggest rival, pepsicotock is up 2% on the year they have been helped by food and more business at home. coca-cola still down 8%, and guys, a lot of people are treating the stock as a vaccine stock, and quincy's conversation to me this morning really affirmed that it is very much dependent on the recovery story of the virus >> hey, sara, you mentioned they are cutting back on the marketing on the advertising, just advertising for the brands that actually work i think i saw in the last week or two, they're getting rid of tab. what does that say about which brands are working, which ones aren't, which are they advertising and are there other brands they're thinking of just stopping completely? s >> so, yes, they're getting rid of 200 brands, half of their portfolio. this follows a strategy that quincy talked about a few quarters ago he called them the zombie brands that require focus from instinct, and attention and marketing spend, and yet contribute very little, i think in total they contribute .5 to the op