Stocks to Watch: PepsiCo Sticks by Guidance

PepsiCo (PEP Quote) reaffirmed its guidance for 2002, saying it still expects 5% to 6% volume growth for the year. "Two months into the year we are seeing good results across our portfolio, and we expect to achieve our previously stated targets for the full year 2002," the company said in a press release. The company expects 6% to 7% revenue growth this year, along with 11% to 12% operating profit growth and 13% to 14% earnings per share growth.

Earnings Reports & Outlooks

Longs Drug Stores (LDG Quote) said February same-store sales rose 4.2%. Total sales climbed 5.2% to $333 million from $316.4 million.

StemCells (STEM Quote) posted a fourth-quarter loss of 15 cents a share. In the year-ago period, the company lost 30 cents. StemCells is a biotechnology company focused on the development and commercialization of stem cell-based therapies to treat diseases of the central nervous system, liver and pancreas.

Williams Cos. (WMB Quote) expects earnings to grow 15% a year starting in 2003, once the energy company's financial and cost-containment measures have been put in place. But for 2002, the company lowered its guidance. Williams is now expecting earnings of $2.15 to $2.30 a share for the full year, and a profit of 40 cents to 45 cents a share in the first quarter. According to First Call, analysts expect first-quarter earnings of 59 cents a share and full-year earnings of $2.36 a share.

Miscellaneous News

Ameritrade (AMTD Quote) said its clients did less trading in February than they did in the previous month. The company reported an average of 88,000 trades a day last month, down from an average of 95,000 a day in January. The company opened 25,000 new accounts in February, bringing its total to almost 1.86 million.