Higher Snack Prices Help PepsiCo Beat Earnings Estimates

PepsiCo (PEP) posted 3rd quarter profit that topped analysts' estimates and raised its forecast for the year after the company's North American snack and beverage businesses were helped by higher prices. PepsiCo now anticipates a 9% increase in 2015 core earnings per share growth versus the previous estimate of 8%. Meanwhile, a major scandal is erupting in the multi-billion dollar industry of fantasy sports. The New York Times report the online and unregulated business in which players assemble their fantasy teams with real athletes. Regulators are asking for information from employees of FanDuel and DraftKings about whether they are taking information--that only they know--and using it to make money on other fantasy sports sites. Volkswagen's CEO says massive cost cuts are needed to manage the emissions scandal but promised to limit the impact on jobs.