STOCKS NEWS US-PepsiCo may walk away from bid for bottler

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For U.S. stock market report double-click [.N] 0700 ET 03June2009-PepsiCo may walk away from bid for bottler ------------------------------------------------------------------------------

PepsiCo (PEP.N) late Tuesday hinted that it could walk away from its proposed takeover of Pepsi Bottling Group (PBG.N), even as the bottler attempted to make a case for a higher bid.

"PepsiCo has a track record of being a disciplined buyer and will maintain that disciplined approach in this transaction," PepsiCo said in a statement. "If in the future PepsiCo remains a stockholder in a public PBG, PepsiCo intends to maintain a disciplined stance with regard to the commercial arrangements between PBG and PepsiCo."

The comments came after Pepsi Bottling raised its outlook for the year and laid out reasons why PepsiCo's offer was too low.

For details, see [ID:nN02518140]

Shares of PepsiCo closed Tuesday at $54.92 while Pepsi Bottling closed at $33.99.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0655 ET 03June2009-Economic indicators for June 3 ------------------------------------------------------------------------------

Economic indicators on tap for Wednesday include: weekly MBA purchase data and mortgage market data, May challenger layoff and ADP national employment data, durable goods data for April, April factory orders and May ISM non-manufacturing data.

For details, see [ECI/US]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0650 ET 03June2009-Earnings diary for June 3 ------------------------------------------------------------------------------

Companies scheduled to report quarterly results on Wednesday include: Collective Brands (PSS.N), Williams-Sonoma (WSM.N), SAIC Inc (SAI.N), Toll Brothers (TOL.N) and Dyncorp International (DCP.N), among others.

For details, see [RESF/US]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net