Alcoa (AA), Marriott (MAR) and Yum! Brands (YUM) kick off the new earnings season this week. Analysts surveyed by Thomson Reuters are looking for moderate year-over-year earnings and revenue growth in the third quarter from each of these dividend payers.

Note that Marriott and Yum! Brands have exceeded consensus estimates in recent quarters and have First Call consensus buy recommendations as well. They are also trading near their 52-week highs, while Alcoa shares are closer to the 52-week low despite a 22% rise in the past three months.

"Investing in conservative stocks to build or rebuild the core of your portfolio makes sense right now; investors should buy companies that have a long history of steady earnings and dividend growth, through good times and tough times," says J. Royden Ward.

The editor of the specialty newsletter, Cabot Benjamin Graham Value Letter, explains, "The obvious benefit of adhering to a disciplined system of value investing like ours is that you build long-term profits and, ideally, financial independence.

Coca-Cola (KO), the main rival to PepsiCo (PEP), closed higher by nearly 1.6% while the Dow received a beating. Shares of the beverage giant settled at $54.08. The market gave its approval to the company's latest earnings report.

I have Coke in my portfolio as a long-term holding, and I was pretty satisfied with the numbers. What I want from a quarterly report is an indication that the business continues to remain on a stable track to deliver quality future cash flows (I'm not expecting anything too exciting, for the most part). I believe investors essentially got that on Wednesday.

PepsiCo (PEP) is not my favorite stock, but that isn't because I dislike its business prospects. It's not my favorite because I own Coca-Cola (KO). As you can imagine, I have to dislike it at least a little bit.

But I do have to confess to being impressed by the beverage company's stock performance Tuesday afternoon. At the time of this writing, shares were higher by $2.18 to $64.23. That's a 3.5% gain, and for a stock like PepsiCo, it's pretty notable. Especially when earnings growth was, as is oftentimes expected with a blue-chip concern such as this one, rather standard and unexciting.

"In looking for new opportunities, we will continue to focus on a combination of value, growth and financial strength ... all key attributes of PepsiCo (PEP), our latest featured investment," says money manager and newsletter advisor Jim Stack.

The editor of Investech Market Analyst explains, "At first mention of its name, PepsiCo might not be a company that peaks your interest. It's often viewed as just another stodgy stock that depends on its flagship soft drink line to carry the business along.

I first discussed PepsiCo (PEP) here on March 13, 2009, at a price of $48.62. Its shares have pulled back roughly in-sync with the Dow's spring retreat, but just look on that move as a decent time to scoop-up shares.

Pepsi remains a premier emerging markets/developed world play. Pepsi's strong presence in international markets remains the key.

True, North American revenue growth will be low in 2010, after the recession's flattish 2009, but investors should remain focused on the long-term and large pictures: namely -- Pepsi's emerging market growth opportunities (it has a presence in more than 200 countries) and its new focus on health and sports drinks.

"Fear is back and it can be seen in the internals. So what is one to do? What we always do: identify quality, establish value, and take advantage of opportunity when it presents itself," suggests Kelley Wright.

The editor of Investment Quality Trends -- an advisory service that assesses blue chip stocks by analyzing their historic dividend yield levels -- adds, "While all ships go out with the tide, value is eventually rewarded. Remember, we are in this for the long haul.

"Our current Timely Ten -- featured below -- is our reasoned expectation based on our methodology and experience for what we believe will perform best over the next five years. Do we believe that all 10 will go up simultaneously or immediately? Of course not.