TOP - S&P 500 Tops 5000; PepsiCo Posts Upbeat Earnings | Benzinga
U.S. stocks traded mixed this morning, with the S&P 500 topping the 5,000 mark on Friday.
Following the market opening Friday, the Dow traded down 0.05% to 38,706.33 while the NASDAQ rose 0.32% to 15,844.63. The S&P 500 also rose, gaining, 0.11% to 5,003.51.
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Leading and Lagging Sectors
Energy shares rose by 0.5% on Friday.
In trading on Friday, consumer staples shares fell by 0.6%.
Top Headline
PepsiCo, Inc. (NASDAQ: PEP) posted better-than-expected earnings for its fourth quarter.
The company reported fourth-quarter FY23 sales of $27.85 billion, missing the analyst consensus estimate of $28.40 billion. Sales declined 0.5% on a year-over-year basis. The company reported adjusted EPS of $1.78 in the fourth quarter, beating the street view of $1.72.
For 2024, the company expects at least a 4% increase in organic revenue, with at least an 8% increase in core constant currency EPS.