Investors should believe the top brass of a company with a good, long-term track record when its management says it can turn things around, CNBC's Jim Cramer said Tuesday.
In its earnings report last Wednesday, PepsiCo revealed that core sales grew 5.2%, its fastest pace in more than three years. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue. "Short-sellers provided the ammo for today's biggest winners: Hasbro, Qualcomm, Twitter, Kohl's," he said. "Their pain is your gain."
The toy and board game manufacturer reported earnings of 21 cents per share in its quarterly results, trouncing the 11 cents per share loss that analysts were expecting from the company.
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