While the strong showing at the retail stores and particularly consumer direct was impressive ... margins overall continue under pressure and working capital trends appear to be deteriorating.

Coca-Cola is our top pick for 2000 as global gets good again.

We're seeing volumes start to increase, and the sticker shock from its higher pricing has begun to wear off. The question is how quickly can the company return to 7-8 percent case volume growth and 15-20 percent [earnings per share] growth.

Direct sellers tend to be globally diverse. They aren't typically leveraged to the U.S. consumer, which has been spotty lately.

We continue to be concerned with the recent pattern of (the company's) estimate reductions, sales sluggishness in the core personal-care division, increasing margin pressures and deteriorating working capital trends.

Tropicana is a great grocery brand. Tropicana is already showing growth, so PepsiCo is buying a company with momentum.