PepsiCo On CNBC's 'Final Trades,' Plus: A Food & Beverage ETF Has 9 Negative Weeks

On CNBC’s "Halftime Report Final Trades," Joshua Brown of Ritholtz Wealth Management named PepsiCo, Inc. PEP as his final trade. 

"This is ridiculous," he added. "We're not all going to be skinny."

PepsiCo shares fell around 5% on Thursday amid Walmart indicating that there has been a decrease in shopping demand due to the use of appetite-suppressing medications such as Ozempic and Wegovy. PepsiCo is scheduled to issue its third quarter 2023 financial results on Oct. 10.

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Stocks in the food and beverage industry experienced their most challenging week since May 2022, further extending the declines seen in the preceding weeks. The First Trust Nasdaq Food & Beverage ETF FTXG plummeted by over 5% last week, marking its third consecutive week of losses and the ninth negative week out of the last 10.

Joseph Terranova of Virtus Investment Partners picked Consumer Staples Select Sector SPDR Fund XLP.

Shannon Saccocia of Boston Private named Materials Select Sector SPDR Fund XLB as her final trade.

Price Action: Materials Select Sector SPDR Fund gained 0.9%, while Consumer Staples Select Sector SPDR Fund lost 0.6% on Friday. PepsiCo shares gained 0.1% to close at $160.29 on Friday.
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