Stock Market Briefs: PepsiCo, Marriott, ConocoPhillips, Blackstone

• ConocoPhillips (COP) raised its quarterly dividend to 50 cents, and announced plans to sell $10 billion in assets over the next two years
• Anheuser Busch Inbev (BUD) will sell Busch Entertainment to Blackstone (BX) for $2.7 billion
• Lazard initiated coverage of King Pharma (KG) with a “buy”
• KBW raised its profit expectations for Jefferies (JEF) from 19 cents to 30 cents on stronger-than-expected fixed income results and commodities revenue, with 2009 estimates raised to $1.14 from 89 cents
• Marriott (MAR) reported third quarter results of 15 cents, topping estimates of 13 cents, and down from last year’s 34 cents. Revenue of $2.47 billion was inline with projections. The firm expects fourth quarter earnings of 20-23 cents
• PepsiCo (PEP) beat analysts’ earnings and revenue projections with third quarter results of $1.09, ahead of $1.03 expected, and up from last year’s $1.06

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