Transcript for Pepsi Looks to Improve Sales
-- -- Opening bell for this Monday march 12 hello everyone I'm Stephanie -- in New York Dow futures were flat ahead of the bell. Joining me now to discuss all the business headlines this morning as Alan treatment from Bloomberg eighteen he Allan good to see you happy Monday. Hey Stephanie Q -- that was a treat for me I did not realize that we're going to be there at an icy today and yes let's look a bit of shake up this morning though at Pepsi -- new CEO of its Americas. Food business give us the details on that rate. And -- -- U2 names here to talk about it in terms of it to executives getting new positions and I want -- this in the context. Of the fact that injuring nearly the CEO it's really been under pressure. To try to -- gain market share from -- that companies announced some pretty big job cuts recently also it's going to be spending up to 600. Million dollars in new marketing really trying to boost the profit growth so. On the heels of that the company this morning. Is naming Brian Cornell head of the food business in the America he is a former Pepsi executive. He's done a number of other things including coming most recently from running one of the big divisions out Wal-Mart Sam's Club and therefore potentially. Someone who spoke as possibly and helping the company improve its relationships with retailers in terms of getting its products there on the shelves and then also Pepsi naming. The head of that foods division. Two also -- -- for become president of Pepsi cap that PepsiCo division. Okay. Let's switch gears here for a while talk about gas prices which is what everyone's been talking about the national average. Is now above 380 a gallon up twelve cents in the past two weeks. Doesn't look like this is a trend that's going to continue. Took -- Lundberg does this survey every two weeks and that's where a lot of the numbers come from AAA also has its own survey as well and want. Out Lundberg is talking about. Is the fact that some of the maintenance at refineries should be finishing up soon and they are four that there should be more supply on the market. So based on that supply demand potentially. These price increases on the stopping. But again a lot of it's gonna be depended on what happens in the oil market because we know. Oil prices have been spiking in recent weeks because of all the concerns. About what's happening would be Ron and whether. Those supplies you know in the Middle East would be affected so again on the one hand yes on the other hand the question marks in terms of the macro environment meanwhile is demand for gas being affected at all by the price increases and it is it's actually been down the past fifty weeks -- Number of ways to track this as well MasterCard. Is one of the trackers and -- definitely seeing that. In terms of demand they say retail gas demand fell one and a half percent in the seven days that ended march 2. And is down six and a half percent from the year earlier. And let's turn to Europe -- second we're keeping a close watch on the eurozone were Euro area of finance minister's post -- sign off on Greece's bail out. Does this mean the checks are about to be signed Allen. They are meeting in Brussels today it does look like that of course until -- Monies are transferred to never wanna say it's a done deal when it comes you to Greece being involved rate so this is that they're supposed to be. Signing off on the rest of this second being bail out some of the money had already been made in payments and interest to bond holders. And in terms of this particular approval today. He Willie is dependent on that deal the bond -- just signed off on -- agreed to take those really big losses. On the bonds that they had bought. Issued by the government of Greece now also just want to point out. The finance ministers will be discussing Spain as well so even when they -- about one country. We doubt they have a lot of others that they're concerned about as well but in terms of contagion but also problems when in each country that -- -- shore. Other news out of Europe Swiss watch maker swatch is being sued by -- -- tell us about this dispute. The rate since this is swatch contesting a counterclaim. By Tiffany its own -- of an alliance the two companies hat it's a partnership that dates back to the end of 2007. It was too meek and sell watches under the Tiffany brown first watch -- -- that. Swatch -- that agreement in September saying that Tiffany tried to block and delay. The terms of -- goals of that agreement so now you're in the apple litigation -- sound is very very complicated and boring. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Back here -- no love for states that were hardest hit by the real estate crash are now leading the country's job recovery what I'm that connection. -- think -- here we're talking about Arizona California Nevada and Florida. On a few factors going on you do have a lot of debt that's come out of these economy is right because a lot of people unfortunately been foreclosed on so -- -- last. -- but also industry specific. In these individual states social networking for example in California. -- in Nevada Florida as -- Arizona. Arizona also has a growing health care industry so those are some of the factors that -- -- when you look at the job creation from August through December for of these four states. About 28%. Of the US total has actually taken place there wow that's great news for those four states. Okay later this week we're gonna be getting numbers on retail sales for February -- -- looking for there. Retail sales out tomorrow for the month of February forecast to be up one point 1%. We know auto sales have been doing well selling at the fastest pace in four years. We recently heard from individual retailers gap for example target. Doing better than expected also the numbers take into account higher gas prices so that's one thing you know a negative. But also should show up in terms of higher retail numbers also. We of the Fed meeting tomorrow as well I -- Ryan what are we looking for the parent has minutes. We're look think it's not it's getting -- the -- being released but it's not an actual net income in most likely will hear the Fed officials talk about. We repeating this promise to keep rates low through the end or later part of 24 -- We do you want to hear anything -- have to say about these gas prices because certainly that's something that Ben Bernanke talked about when he was on Capitol Hill recently. In terms of possible headwinds and also possible temporary bump up in inflation. Okay when it is -- one other interesting piece of news last week when we're talking about Carlos slam at being the richest man in the world right now aligns himself. With the king Larry King can tell you -- what guys planning. -- -- -- -- So Carlos -- financing an Internet TV network it's called -- a TV hopefully I'm not saying Iran OR a dot TV. On it is gonna feature Larry King I was just on the web site it has quick note on that web page talking -- ballot. It's gonna be interactive they're developing that con -- it's gonna be innovative. And that Larry King yes is going to be a factor here including serious and they certainly attracted a big name mr. -- I think has some holdings and other me -- As well so he kind of knows what he's doing less well we're look at the Dow before we let you go make of this sort of flat Monday -- Pretty flat you know I think you -- -- put it in the context of the fact that we had gains on Friday because the jobs report came in better than expected. -- capped off a fourth street week of gains for stocks. An interesting trend that we picked up on is the fact that. Some of the transportation stocks -- started to lag even though the Dow has continued to rise. I -- that divergences kind of sending a signal to people who watched. Somebody's Dow theory. That. Potentially its stock investors are a little concerned that recovery could be sluggish for several months the bond market -- -- RD and kind of factoring that that's scenario and interest saying Ellen great men from Bloomberg TV thanks so much on have a great week -- Stephanie.
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