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Pepsi buys SodaStream; Stocks rising; Estee Lauder earnings

1. Pepsi makes a deal: PepsiCo is buying one of the world's top sparkling water brands, Sod...

Posted: Aug 20, 2018 10:04 AM
Updated: Aug 20, 2018 10:04 AM

1. Pepsi makes a deal: PepsiCo is buying one of the world's top sparkling water brands, SodaStream, for $3.2 billion.

The move -- which was unanimously approved by the boards of both companies -- will boost Pepsi's efforts to shift from its traditional soft drinks business into healthier options.

SodaStream's products are marketed as a healthy alternative to sugary sodas. This fits Pepsi's goal of "making more nutritious products while limiting our environmental footprint," Pepsi CEO Indra Nooyi said in a statement.

2. Global stock market overview: US stock futures were holding steady.

European markets rose in early trading, with mining companies among the top gainers.

Most Asian markets ended the day with gains. The Hang Seng in Hong Kong was a standout performer with a 1.4% rise.

The Dow Jones industrial average jumped 1.4% last week and S&P 500 advanced 0.6%. The Nasdaq dipped 0.3%.

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3. Earnings: Estee Lauder will release earnings before the open.

It's a big week for retailers, with earnings reports expected in the coming days from Target, Kohl's, Ross, Gap, Foot Locker and TJ Maxx owner TJX.

Wall Street analysts expect another strong round of corporate earnings, similar to last week. Americans are spending more because of low unemployment and a booming economy.

4. Greece is done with bailouts: After eight years and hundreds of billions in loans, Greece is putting its bailout days behind it.

The country on Monday officially exited the last of three enormous rescue programs that saved it from going bust and abandoning the euro. The bailouts from the International Monetary Fund, the European Central Bank and the European Commission came at a huge cost that will still be felt for years to come.

IMF Managing Director Christine Lagarde cautioned last month that "greater reform efforts remain key to an economic recovery and lasting growth."

She said the Greek government still needs to improve how it collects taxes, do a better job of clearing out unqualified civil servants and urgently revamp its privatization program.

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5. Coming this week:
Monday Estee Lauder earnings
Tuesday JM Smucker, Toll Brothers, Kohl's and TJX earnings
Wednesday Target, Lowe's and L Brands earnings
Thursday Alibaba, HP, Ross Stores and Gap earnings, US tariffs on 279 Chinese products take effect
Friday Foot Locker earnings, Federal Reserve chairman Jerome Powell speaks at the Economic Policy Symposium in Jackson Hole

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 310885

Reported Deaths: 6955
CountyConfirmedDeaths
Los Angeles1274393744
Riverside24765537
Orange22650412
San Diego18863420
San Bernardino18275304
Imperial7759132
Fresno762787
Alameda7485147
San Joaquin627968
Kern619597
Santa Clara5863166
Tulare5678152
Sacramento515279
Contra Costa446088
Stanislaus436450
San Francisco431650
Ventura409353
Santa Barbara386829
San Mateo3846112
Marin336430
Kings285539
Monterey241918
Solano207528
Merced179312
Sonoma156114
Placer102111
San Luis Obispo9054
Madera8578
Yolo83928
Santa Cruz5373
Napa4774
Butte3384
Sutter3374
San Benito3112
El Dorado3070
Lassen2610
Shasta1766
Humboldt1654
Glenn1640
Nevada1631
Yuba1633
Lake1081
Mendocino1070
Colusa1030
Tehama981
Calaveras670
Tuolumne640
Del Norte600
Mono491
Siskiyou410
Amador360
Inyo341
Mariposa311
Plumas170
Alpine20
Trinity20
Sierra10
Unassigned00
Chico
Clear
72° wxIcon
Hi: 103° Lo: 68°
Feels Like: 72°
Oroville
Clear
77° wxIcon
Hi: 104° Lo: 67°
Feels Like: 78°
Paradise
Clear
72° wxIcon
Hi: 96° Lo: 69°
Feels Like: 72°
Chester
Clear
46° wxIcon
Hi: 87° Lo: 53°
Feels Like: 46°
Red Bluff
Clear
70° wxIcon
Hi: 105° Lo: 68°
Feels Like: 70°
Willows
Clear
72° wxIcon
Hi: 107° Lo: 64°
Feels Like: 72°
A hot week will transform into an even hotter weekend over northern California as high pressure stays in control of our weather. No rain is in the forecast, but it will cool a bit by late next week.
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