PepsiCo is down 12% this year while Coca-Cola is up 22.5%
As seen on the 24/7 Wall St. homepage on October 2, 2026.
Mad Money w/ Jim Cramer 10/2/26
- 29,000 September jobs eased rate-hike fears; G7 releasing 100 million barrels capped oil's rally
- PepsiCo called uninvestable into Thursday earnings: down 12% this year while Coca-Cola is up 22.5%
- Nvidia compute scarcity framed as the real money-maker behind data center and Starlink demand
- Caller verdicts on Applied Materials, Simon Property Group, Goldman Sachs and Duke Energy at a 3.8% yield
A 4.7% PepsiCo yield loses to the 10-year, so any bounce off Thursday's earnings report is just a trade. Cramer stays long AI compute while telling snack and beer holders the consumer shift is structural.
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PepsiCo's 4.7% dividend yield now trails the 10-year Treasury, leaving income investors little reason to hold the shares. Cramer calls that pressure structural, not temporary.
The gap versus Coca-Cola reflects a consumer shift hitting PepsiCo's snack and beverage volumes, which Thursday's earnings report is unlikely to fix.
Cramer's position is that a beat lifts the stock only as a trade. Buyers into strength step in front of a yield disadvantage and a full year of underperformance.
September's 29,000 new jobs eased fears of an imminent rate hike heading into the week. Cramer's preferred long remains AI compute, with Nvidia framed as the durable theme.
Mentioned: NVDA, MSFT, AMZN, META, KO, CVX, GS, PEP, CAT, DE, AMAT, MU, DUK, NKE, SPG