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Earnings per share for the beverage company were 54 cents compared to the Zacks Consensus Estimate of 49 cents.

Net sales, however, fell 4%. The company said it was too early to see the economic recovery translate into higher beverage sales. Liquid refreshment beverage trends remained negative in the quarter.

2009 Guidance

• Cisco Systems (NASDAQ:CSCO) reported better-than-expected first quarter adjusted earnings of 36 cents a share, versus 37 cents a year ago, beating Zacks estimates of 26 cents a share.  Revenues of $9 billion, though off last year's $10.3 billion, exceeded Zacks projections of $8.75 billion. Current quarter revenue guidance was lifted to 1%-4% growth from a year ago to $9.9 billion-$10.2 billion.  CEO John Chambers said the numbers "continued to reflect strong sequential growth trends," as he noted an improving economic outlook

Filed under: Earnings reports, Forecasts

Dr Pepper Snapple Group Inc. (NYSE: DPS) -- which includes A&W, Hawaiian Punch, Welch's, 7UP, Clamato, Margaritaville, and Yoo-Hoo among its diverse beverage offerings -- is scheduled to discuss its third-quarter 2009 financial results in a conference call Thursday at 11:00 AM ET, hosted by CEO Larry Young and CFO John Stewart. You can catch the live webcast of the call and accompanying slide presentation on the <font>company's website</font>.

What follows is a bullish appraisal of Dr Pepper Snapple Group (DPS). Before we get started, here are a couple of disclosures.

First, I love spin-offs and have several in my portfolio. These situations have been very profitable in the past thanks to an information void and an excess of natural sellers. Research is often rewarded because so few investors want to do the work. And many investors sell because they don't want to hold "a few lousy shares" of XYZ company. In short, spin-offs are ripe targets for value investors.