PepsiCo moves to profit in 4Q, sees tax benefit
PURCHASE, N.Y. (AP) — PepsiCo moved to a profit in its fourth quarter, getting a boost from a large tax benefit as sales in its Frito-Lay unit North America strengthened.
Shares rose $2.36, or 2.1 percent, to $114.95 in Friday morning trading.
The food and beverage company recorded a $5.3 billion tax benefit in the quarter, which included reorganizing its international operations. A year earlier it had a tax expense of $2.5 billion.
Stitch Fix and Delta skid; Newmont and RenaissanceRe rise
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday:
PepsiCo Inc., down $1.99 to $108.72
The soda maker trimmed its profit forecast because of the strong U.S. dollar.
Stitch Fix Inc., down $15.69 to $28.94
The online clothing company reported disappointing sales and user totals.
Newmont Mining Corp., up 82 cents to $31.17
Mining and basic materials companies rose as metals prices increased.
Papa John's International Inc., up 88 cents to $50.15
PepsiCo tops 3Q forecasts, but strong dollar hurts outlook
PURCHASE, N.Y. (AP) — PepsiCo reported better-than-expected third-quarter earnings and revenue, but its shares edged lower Tuesday after the company warned of the effects that the strong dollar will have on its performance for the rest of the year.
Coca-Cola investing in sports drink maker BodyArmor
NEW YORK (AP) — Coca-Cola is buying a minority ownership stake in sports drink maker BodyArmor,
for an undisclosed amount, marking the latest move by the world's biggest beverage maker to diversify its offerings.
PURCHASE, N.Y. (AP) — With Indra Nooyi exiting PepsiCo as its longtime chief executive, the circle of CEOs in the Fortune 500 is losing one of its highest profile women.
Berkshire Hathaway and Pepsi rise; Rite Aid skids
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Newell Brands Inc., down $3.81 to $22.76
The consumer products company said its baby and writing-product businesses struggled in the second quarter.
Rite Aid Corp., down 18 cents to $1.66
The drugstore chain forecast a bigger loss because generic drug prices are weaker than it had expected.
Unions are pressing companies they bargain with to disclose details of what they’re doing with savings from the Trump tax cuts, the latest move by organized labor to pressure corporations to pass along their windfall from the overhaul.
Washington state initiative aims to ban local soda taxes
OLYMPIA, Wash. (AP) — A group backed by the soda industry is seeking to bar cities and counties in Washington state from imposing their own taxes on sodas or other sweetened beverages through a proposed statewide initiative.
The political committee, Yes! To Affordable Groceries, has submitted language for a proposed statewide initiative, The Daily Herald reported on Sunday.
More caffeine, please: Keurig is buying Dr Pepper Snapple
NEW YORK (AP) — Keurig is buying Dr Pepper Snapple Group, bringing together the make-at-home coffee brand with the company behind Dr Pepper soda, Mott's apple juice and Snapple iced teas. The combined company, called Keurig Dr Pepper, will have about $11 billion in annual sales, still far smaller than PepsiCo Inc. and Coca-Cola Co.
Super Bowl ads aim for the heart — and sometimes lower
Coca-Cola Co., facing an industrywide retreat from artificially sweetened sodas, is hoping its biggest Diet Coke makeover ever can win back consumers.
NEW YORK (AP) — Pepsi on Wednesday pulled an ad after it was widely mocked and criticized for appearing to trivialize protests for social justice causes.
"Pepsi was trying to project a global message of unity, peace and understanding," the company said. "Clearly we missed the mark, and we apologize."
It said it was "removing the content and halting any further rollout."
PHILADELPHIA (AP) — Pepsi is pulling 2-liter bottles and 12-packs of its products from Philadelphia grocery store shelves over the city's new tax on sweetened drinks.
The company says it wants to offer products and package sizes working families can better afford.
The 1.5-cent-per-ounce tax on sweetened and diet beverages is imposed at the distributor level. If fully passed on to the consumer it amounts to $1.44 on a six-pack of 16-ounce bottles.
Tips and information for dietitians from food companies
Food makers like PepsiCo Inc. and groups like the Sugar Association were among the exhibitors at an annual dietitians conference in Boston, an illustration of the often conflicted links between the food industry and nutrition.
The Academy of Nutrition and Dietetics says health experts know the difference between marketing and science. David Wiss of Dietitians for Professional Integrity says the industry's influence is so entrenched that many take it at face value.
NEW YORK (AP) — PepsiCo Inc., the packaged food giant that makes Mountain Dew soda and Frito-Lay chips, posted a quarterly profit Thursday that topped Wall Street expectations and touted new products that it said respond to growing interest in "craft" and "premium" options.
In a conference call with analysts, CEO Indra Nooyi noted the introduction of 1893, a craft cola named for the year Pepsi was invented, as well as Mountain Dew Black Label, which is marketed as being...