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$PEP's net revenue for 2Q16 fell to $15.4Bil from $15.92Bil last year. This was negatively impacted by foreign exchange translation and deconsolidation of Venezuelan operations. $PEP delivered balanced volume growth and positive price/mix driven by relentless execution of commercial agenda and leading to solid organic revenue growth of 3.3%.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.