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SNMX

Senomyx

$2.73

-0.19 (-6.51%)

, PEP

PepsiCo

$106.89

0.06 (0.06%)

13:56
10/17/16
10/17
13:56
10/17/16
13:56

Senomyx surges after PepsiCo resolves to lower sugar content in beverages

Shares of natural sweeteners and flavor ingredients maker Senomyx (SNMX) are surging after soft drink maker PepsiCo (PEP) announced it was launching its 2025 Sustainability Agenda, with a key aim of transforming its product portfolio by offering healthier food and beverage choices. WHAT'S NEW: As part of its Sustainability Agenda, PepsiCo said that one goal it has set for 2025 is to have at least two-thirds of its global beverage portfolio volume containing 100 calories or fewer from added sugars per 12oz serving. PepsiCo, owner of the Gatorade and Tropicana brand, said the company's initiatives were informed by the latest dietary guidelines of the World Health Organization. The company said it will "continue to refine its food and beverage choices to meet changing consumer needs by reducing added sugars, saturated fat and sodium levels in its product portfolio." WHAT'S NOTABLE: On September 30, Senomyx announced that it amended and restated its Sweet Taste Program collaboration agreement with PepsiCo. The amendment extended PepsiCo's research funding for Senomyx's Natural Sweet Taste Program for three additional years, through September 2019. Under the amended and restated agreement, Senomyx granted PepsiCo non-exclusive rights to natural sweeteners and natural flavor ingredients discovered, developed and selected under the collaboration for use in all non-alcoholic beverage categories. During the extension, Senomyx will be entitled to $18M in research and development payments over the three-year research period. Senomyx CEO John Poyhonen said at the time, "We are looking forward to continuing our collaboration with PepsiCo given our common objective of developing products that meet the growing demand for lower-calorie offerings." PRICE ACTION: Shares of Senomyx are up nearly 8.5% to $2.96 in afternoon trading. Pepsico is up fractionally to $106.85.

SNMX

Senomyx

$2.73

-0.19 (-6.51%)

PEP

PepsiCo

$106.89

0.06 (0.06%)

  • 10

    Nov

  • 15

    Nov

SNMX Senomyx
$2.73

-0.19 (-6.51%)

PEP PepsiCo
$106.89

0.06 (0.06%)

09/15/16
FBCO
09/15/16
INITIATION
FBCO
Outperform
PepsiCo initiated with an Outperform at Credit Suisse
09/15/16
FBCO
09/15/16
INITIATION
Target $121
FBCO
Outperform
PepsiCo initiated with an Outperform at Credit Suisse
Credit Suisse analyst Laurent Grandet initiated coverage on PepsiCo with an Outperform and a $121 price target. Grandet does not believe the market is giving PepsiCo enough credit for Frito-Lay's marketing and financial strength and the rebalancing of the US beverages portfolio towards faster growing noncarbonated beverages.
09/16/16
09/16/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GoPro (GPRO) initiated with a Buy at BofA/Merrill. 2. JetBlue (JBLU) initiated with an Outperform at Imperial Capital. 3. PepsiCo (PEP), Dr Pepper Snapple (DPS), and Monster Beverage (MNST) were initiated with an Outperform at Credit Suisse, while the firm initiated Boston Beer (SAM) with an Underperform. Credit Suisse also initiated Coca-Cola (KO) and Constellation Brands (STZ) with a Neutral. 4. lululemon (LULU) initiated with a Positive at Susquehanna. 5. Target (TGT) coverage assumed with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/16
STFL
09/29/16
DOWNGRADE
STFL
Hold
Coca-Cola downgraded following Pepsi results at Stifel
As noted earlier, Stifel analyst Mark Swartzberg downgraded Coca-Cola (KO) to Hold from Buy. The analyst downgraded the stock after Pepsi (PEP) reported better than expected Q3 results. The analyst says that Coca-Cola's and Pepsi's organic EPS growth appears to be similar, but he believes that Pepsi is less vulnerable to foreign exchange fluctuations. Additionally, he believes that Coca Cola European Bottlers (CCE) is a better investment than Coca-Cola because of the large amount of revenue synergies which that Coca Cola European Bottlers has identified.

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