I first wrote about PepsiCo (PEP) on March 13, 2009, at a price of $48.62. The stock continued to meander near $65 during the winter, but I still like the business model at this stage. Here's why:

In 2011, Pepsi's revenue will likely increase about 4% to 6%, aided by the acquisition of bottlers Pepsi Bottling Co. and PepsiAmericas. PEP should register a 5% to 8% revenue gain for 2011.

PepsiCo, Inc.'s (PEP) shares, first written about here on March 13, 2009, at a price of $48.62, have exhibited sideways action in the past three months, but I still like the shares at this stage.

Also, as noted earlier, if you're in near $48, feel free to consider taking some profits off the table with PEP.

Those investors can who tolerate the risk can maintain their full position and go for a larger gain, but keep in mind the journey to $80 probably will not be completed in 2011.

Sara Lee (SLE) has rejected an offer from a group of private-equity firms that includes Bain Capital, Apollo Management and TPG Capital, the New York Post reports. Overall option implied volatility of 20 is below its 26-week average of 24, according to Track Data, suggesting decreasing price movement.

PepsiCo (PEP) is expected to report Q4 EPS on February 10. Overall option implied volatility of 17 is near its 26-week average, according to Track Data, suggesting nondirectional near-term price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

PepsiCo, Inc. (PEP) is buying Russian dairy and juice maker Wimm-Bill-Dann in a deal valued at about $5.4 billion, as reported in the Wall Street Journal.

Pepsi has set a long rage goal of reaching $30 billion in annual sales of health-oriented drinks and snacks by 2020. This deal will increase annual revenue to $13 billion from its present $10 billion.

"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.

Starbucks (SBUX) announced recently that it is hanging its hopes on a lower-priced coffee line under its Seattle's Best brand. But investors who were excited about this news have gotten a cold bucket of water thrown on them by a seemingly innocuous move: A logo change.

The public, however, overwhelmingly seems to think Starbucks should try again, at least according to one online poll by the Seattle Times. And readers have levied criticism that includes likening the logo to "Seattle's Best Blood Bank," among other quips.

In general it was a decent first quarter for PepsiCo Inc. (PEP), commonly known as Pepsi, which earned 76 cents per share (excluding one-time items), compared to the Thomson/Reuters First Call first quarter EPS estimate of 75 cents.

Unfortunately, the market, at least initially, did not see fit to reward the company by bidding-up shares. In today's strong-performance-or-else market, Pepsi was given little credit for the adequate quarter: Pepsi's shares were down $1.29 to $64.70 on the news in Thursday afternoon trading.

Pepsico Inc.'s (PEP) shares have pulled back recently, after shooting through $60 resistance. But I'm nevertheless reiterating my buy rating for the company's shares, first recommended on March 13, 2009, at a price of $48.62. Here's why:

Pepsi's strong presence in international markets remains the key. True, North American revenue growth will be low-single-digits in 2010, after the recession's flattish 2009, but investors should remain focused on the long-term and large pictures. Namely, Pepsi emerging market growth opportunities (it has a presence in more than 200 countries) and its rebrand in health and sports drinks.

Despite the media slump that's been running alongside the worldwide recession, CBS (CBS) isn't having any trouble moving ad space for the Super Bowl.

The event is still more than a month from now, but the network reports having only a few commercial slots left for the big game. In fact, 95% of its 62 slots have moved, even with two of the most committed Super Bowl advertisers -- Pepsi (PEP) and General Motors (GRM) -- bowing out of the action. The first half is already sold out completely.

This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.

"PepsiCo (PEP), my top pick for 2010, remains underrated by the market," says Jim Stack.

The money manager and editor of InvesTech Market Analyst suggests, "All too often, it's viewed as a stodgy soft drink company, fully reliant on its namesake soda line. That's a misconception." Here, he sets the record straight.

The future investment stars are already with us. The NYSE Financial Future Challenge, operated by the NYSE Foundation, By Kids for Kids, K12 Inc. and the United Investors Association, is in full swing, with five finalists just identified. To reach this level, the participants had to develop a new product, idea or process that would "excite, educate and motivate their peers" to become interested in the financial marketplace. The eventual winner lurks within this subset and will receive a $2,500 prize -- a great way to get that portfolio started. And, he or she will be feted at a closing bell ceremony at the NYSE (NYX) on January 11, 2010.

The finalists presented a variety of ideas which are sure to generate some buzz. Kelsey Foss, a 12-year-old from Mountainville, NY, proposed a new television show, "Stock Market Tycoon Idol," which would harness the popularity of reality TV while amping up the content. The program would involve the journeys of 10 kids as they seek to make money or lose it, with the possibility of becoming virtual millionaires along the way. The show would be set at a mock NYSE studio on Wall Street, and exports would be brought out to mentor the contestants. The reality TV reach would help engage a younger audience.

Dr Pepper Snapple Group Inc. (NYSE: DPS) -- which includes A&W, Hawaiian Punch, Welch's, 7UP, Clamato, Margaritaville, and Yoo-Hoo among its diverse beverage offerings -- is scheduled to discuss its third-quarter 2009 financial results in a conference call Thursday at 11:00 AM ET, hosted by CEO Larry Young and CFO John Stewart. You can catch the live webcast of the call and accompanying slide presentation on the company's website.

During the three months that ended in September, Dr Pepper launched an energy drink and reaffirmed its full-year guidance. Analysts surveyed by Thomson Reuters expect this Plano, Tex.-based bottler and distributor of nonalcoholic beverages to report that earnings for that period rose 8.2% from a year ago to $0.49 per share. However, revenue for the quarter is expected to be 4.2% lower to $1.4 billion.

Vibe, the urban music magazine, is clawing its way back to life. New owners and editors are trying to make the magazine a success reality again, and they are making the web a priority ... which shouldn't be news but is for an ailing print industry.

The new editor-in-chief, Jermaine Hall, told AdAge that "Vibe.com is really the hub," and that everything needs to point back to the online presence. The print publication will be just one part of the Vibe Lifestyle Network, a move we're also seeing with the likes of Rolling Stone, where the website is being brought back into the fold (and may actually get some resources).

In Gordon Pape's Internet Wealth Builder, contributing analyst Tom Slee looks at "recession-resistant" global stocks. Here, he reviews Philip Morris International (NYSE: PM) and PepsiCo (NYSE: PEP).

Slee explains, "Philip Morris continues to benefit from rising tobacco consumption and 'uptrading' as people in the emerging countries switch to more expensive products.

"Almost recession proof, the international tobacco industry is prospering thanks mainly to new markets, strong cash flows, and reduced litigation.

Soft drink giant The Coca-Cola Company (NYSE: KO) will be reporting its third quarter numbers tomorrow before the market opens.

The last time that Coca-Cola reported earnings was back in July when the company beat out analyst estimates by 3 pennies with a reported 92 cents per share. For the third quarter, analysts are expecting to the see the company show earnings of 81 cents per share.