PepsiCo (PEP) is no stranger to the hyper competitive world of running restaurants. Back in 1997, the beverage and snack giant spun off its restaurant group into what is now known as Yum! Brands (YUM) , which operates household name fast food brands KFC, Pizza Hut and Taco Bell. Some twenty years later, however, PepsiCo has caught the bug once again to dabble in the restaurant game. But this time around, the company isn't going anywhere near cheaply made fast food. Kola House, a 5,000 square foot concept that channels the tangy Kola Nut for inspiration across a menu ranging from burgers to raviolis to some mind-blowing craft cocktails, swung open its doors in late September. The roughly 150 seat restaurant (which also has an entertainment venue) was designed by singer Lenny Kravitz's design firm and PepsiCo Design, and is run by hospitality veterans Eric Marx and Lisle Richards of The Metric. And yes, for those New City food snobs that always want to be scene at the hottest new joint, supermodel, resident foodie and wife of singer John Legend Chrissy Teigen has already made a visit. Take that superstar visit and a barrage of early favorable reviews on Yelp and Facebook, PepsiCo's latest foray into restaurants appears to be paying off. TheStreet's Brian Sozzi has details from New York.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.