PepsicCo (PEP) is in the red at the time of this writing. Investors weren't dazzled by the beverage entity's latest earnings report, I guess. I see a quote of $63.16 on my screen; this means that the shares are off by about 2%. Volume is heavy.

According to the Associated Press, fourth-quarter profit on a reported basis went down five pennies to 85 cents per share. Not good to hear, but here's something that will put shareholders in a happier mood: on an adjusted basis, profit calculated out to $1.05 per share, a figure that was one penny ahead of the overall projection.

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.

As I noted earlier today, PepsiCo's Inc. (NYSE; PEP) first quarter profit rose16% due to the strength of its international beverage division as well as solid growth in the Frito-Lay snacks division. First-quarter revenue of $7.35 billion provided a healthy profit of $1.1 billion for the quarter, up from $6.72 billion and $947 million respectively for the year-ago quarter.

PepsiCo's management reaffirmed guidance for the full year at $3.30 EPS, a tad under consensus analyst estimates of $3.32 EPS. The second-largest beverage maker in the world behind Coca-Cola Co. (NYSE:KO) witnessed its international beverage revenue climb in the first quarter while rose by 29%. The Texas-based Frito-Lay division saw a 7% gain in profit for the first quarter as well.

What is on top for the beverage and snack giant's Q1 conference call today? Let's find out! Remember to use the "Refresh" button on your web browser to refresh your screen every few minutes. All times below are in EST.

11:00am -- waiting for the Q1 PepsiCo conference to begin...holy cow, this on-hold music is self-servingly atrocious and annoying (who mixed this?). Simple classical music will do.

PepsiCo Inc.'s (NYSE: PEP) first quarter profit rose16% due to the strength of its international beverage division as well as solid growth in the Frito-Lay snacks division. First-quarter revenue of $7.35 billion provided a healthy profit of $1.1 billion for the quarter, up from $6.72 billion and $947 million respectively for the year-ago quarter.

PepsiCo's management reaffirmed guidance for the full year at $3.30 EPS, a tad under consensus analyst estimates of $3.32 EPS. The second-largest beverage maker in the world behind Coca-Cola Co. (NYSE: KO) witnessed its international beverage revenue climb in the first quarter while rose by 29%. The Texas-based Frito-Lay division saw a 7% gain in profit for the first quarter as well.

Stay tuned to BloggingStocks this morning at 11:00am PDT as I'll be liveblogging the Q1 conference call right here. The best parts (most of the time) are deep analyst questions at the end of the call (during the Q&A), so I hope you'll join me here in about two hours.