For example, soda giants The Coca-Cola Company ( KO ), PepsiCo, Inc. ( PEP ) and Dr Pepper Snapple Group, Inc. ( DPS ) have outperformed expectations in the first half of 2014 driven by aggressive marketing initiatives, cost containment and improved productivity. A sequential improvement in beverage volumes in the second quarter of 2014 was the highlight of the quarter, which impressed investors. Buoyed by the strong performance in the reported quarter, Dr Pepper Snapple and Pepsi raised their earnings outlook for full-year 2014. We also believe that these companies will keep the momentum going in the second half.