Business News

It's All in the O's at Pepsi

PepsiCo's quarterly profits increased almost 4% topping Wall Street expectations. Sales declined about 4% to $15.4 billion, hindered by a stronger dollar and its Venezuelan operations. New drinks such as Propel flavored water and Naked Cold Pressed juice, and snacks under its "Simply" brand helped sales. Revenue from the Frito-Lay business, which includes Doritos, Fritos, Tostitos and Cheetos rose 3%. PepsiCo raised its full-year earnings to $4.71 per share. Shares are up over 2% in early trading, reaching an all-time high. (AP)
ADP says the private sector added 172,000 jobs in June. In May ADP said the economy added 168,000 private sector jobs. (Fox Business News)
In June, employers planned to layoff 38,536 jobs. Employers announced 313,754 layoffs in the first six months of 2016, up 9% from the same period last year. Payroll reductions slowed between the first and second quarters. Second-quarter job cuts totaled 132,834, down 27% from the 180,920 layoffs announced in the first quarter.
S&P 500 is flat and the NASDAQ is flat.  MSCI International Index is up 0.29%.
Oil is up $0.50 at $47.95 a barrel. The American Petroleum Institute says U.S. crude stockpiles fell by 6.7 million barrels last week, declining for a seventh week in a row. (CNBC)
Gold is flat at $1367 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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