In a conference call discussing the second quarter, executives said sales of the lemon-lime carbonated soda had exceeded expectations, and officials are optimistic that market share will increase with the introduction of the low-calorie version. Sierra Mist was introduced in October.
Separately, executives declined to comment on a report that lawyers for the Federal Trade Commission believe the commission should block Pepsi's bid to buy Quaker Oats Co. amid concerns that if one company controlled Quaker's Gatorade and Pepsi's AllSport, it would control the sports drink category.
Pepsi stock was down 11 cents per share after the report to $46.88, while Quaker shares sank 89 cents to $86.90.-- Hillary Chura
Copyright July 2001, Crain Communications Inc.