Consumer shares were positioned higher ahead of Monday's opening
In consumer stocks news, Pepsico (
) is worth more if split up, according to Barron's.
It said cost-cutting at each Frito-Lay and Pepsi would more than
offset their current synergies.
The paper notes that activist investor Nelson Peltz has been
clamoring for a break up and has noted that Pepsi, whose stock
recently fetched $92, could be worth as much as $144 a share.
And, ANN (
) received a letter from activist shareholders saying the company
is undervalued and the company should consider putting itself up
Engine Capital LP, together with its affiliates, and Red Alder
LLC, who collectively own in excess of 1% of the outstanding
shares, said the company should hire an investment bank to look at
its strategic options, including a potential sales of the
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