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Wire

Market Chatter: PepsiCo Set to Raise Prices on Some Small Bags of Chips

PepsiCo (PEP) plans to raise prices on some of its smaller bags of chips by $0.10 to $0.20 that are currently retailing for $2.69, Bloomberg reported Wednesday, citing people familiar with the matter.PepsiCo didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $149.26, Change: $-1.11, Percent Change: -0.74%

$PEP
Wire

PepsiCo Set to Raise Prices on Some Small Bags of Chips, Bloomberg Reports

PepsiCo Set to Raise Prices on Some Small Bags of Chips, Bloomberg Reports

$PEP
Wire

Celsius on Strong Long-Term Growth Path Despite Recent Slowdown, UBS Says

Celsius (CELH) appears to have a strong long-term growth trajectory despite slowing beverage sales in recent months, UBS said in a note emailed Friday.The company continues to benefit from growth in household penetration and purchase rate as its distribution agreement with PepsiCo (PEP) nears four years, the firm said. The brand has faced growth across most demographics, with expectations of gaining more shelf space in 2026 amid product launches such as the new energy drink Electric Vibe, according to the note.The investment firm, however, noted that Celsius has experienced sluggish sales since December due to increasing competition and weakness in certain products.UBS added that given the volatility, investors are likely to take a "wait and see approach" toward the stock, but over the long term, the potential upside outweighs the downside risk with the weakness looking "overdone."UBS maintained its buy rating and price target of $55.Price: $30.03, Change: $+1.02, Percent Change: +3.52%

$CELH$PEP
Wire

UTZ Brands Set for In-Line Q1 Amid Noisy Quarter, Tough Environment Persists, RBC Says

UTZ Brands (UTZ) is poised to report Q1 results broadly in line with consensus in what is expected to be a noisy quarter, RBC Capital Markets said in a Monday note.The company is scheduled to report its Q1 results on Wednesday.RBC said UTZ's Q1 scanner data is currently tracking 4.1% versus consensus of 2.8%, supported by tailwinds from the Super Bowl and pantry loading ahead of winter storms. However, the brokerage noted that early Q2 data show a material sequential deceleration to -3.4%, driven by weaker volume and some share losses.UTZ is also expected to show early positive signals from its California expansion during Q1, though RBC expects limited near-term financial impact.Additionally, competitive dynamics from PepsiCo's Frito-Lay relaunches of Lay's and Tostitos could add volatility, as roughly three-fifths of UTZ's sales mix comes from potato and tortilla chips, according to the note.RBC also flagged broader category risk from higher oil prices and inflation, which could pressure gas and convenience channel demand for salty snacks.RBC has an outperform rating, with a $15 price target.Price: $7.72, Change: $-0.05, Percent Change: -0.71%

$PEP$UTZ
Wire

Coca-Cola Positioned to Outperform Peers in Organic Sales Growth, Morgan Stanley Says

Coca-Cola (KO) is positioned to outperform peers in organic sales growth given its pricing power and solid volumes, Morgan Stanley said in a Wednesday note.The company reported Q1 adjusted earnings Tuesday of $0.86 per share, up from $0.73 a year earlier, as revenue increased to $12.47 billion from $11.13 billion. For 2026, Coca-Cola expects organic revenue growth of 4% to 5% and comparable earnings growth of 8% to 9%.Underlying organic sales growth in Q1 was 5% and Morgan Stanley said Coca-Cola could sustain this growth over the long term, well ahead of its peers. The investment firm noted Coke's structural pricing growth, the company's Fairlife business, and increasing volumes as drivers for organic sales growth.Coca-Cola could also see catalysts from increasing Fairlife production capacity and "robust" pricing from rivals PepsiCo (PEP) and Keurig Dr Pepper (KDP) the brokerage added.Morgan Stanley raised its price target on Coca-Cola to $89 from $87, with an overweight rating.Price: $78.54, Change: $+0.19, Percent Change: +0.24%

$KO$PEP
Wire

PepsiCo, Smurfit WestRock Sign 10-Year Power Purchase Deal With Spanish Wind Asset

PepsiCo (PEP), Smurfit WestRock (SW), Givaudan, and Statkraft signed a 10-year virtual power purchase agreement with a wind asset in Spain, the companies said Tuesday.The deal is part of PepsiCo's "pep+ REnew" program for emissions reductions and energy transition, according to the statement. No financial details were disclosed.The agreement is expected to contribute to a reduction in carbon emissions of about 32,000 metric tons per year, the companies said.Price: $156.13, Change: $+2.03, Percent Change: +1.32%

$PEP$SW
US Markets

Coca-Cola Poised for In-Line Quarterly Print Despite Global Macro Volatility, RBC Says

Coca-Cola's (KO) first-quarter results are likely to meet Wall Street's expectations, showing "resilience" despite a difficult global consumer environment amid war-driven concerns, RBC Capital Markets said Friday.The brokerage expects the beverages giant to report first-quarter adjusted earnings of $0.82 a share on net sales of $12.01 billion, with organic sales growth projected at 6.7% year over year. The Street expects EPS of $0.81 on sales of $12.17 billion while looking for organic sales growth of 6.5%, RBC said in a note to clients."We expect the quarter to be fine, with (Coca-Cola) delivering against (consensus) numbers, showing resilience despite the difficult environment," said Nik Modi, co-head of global consumer and retail research at RBC.The company is scheduled to report results Tuesday."While the Coke system continues to see good momentum on market share and top line, there is significant concern among the bottler community regarding aluminum inflation, the Midwest premium and the likely increase in logistics costs/pet packaging costs if the energy complex continues to inflate," Modi said in the note."While the system would normally just price for the inflation, we believe the current consumer environment might make it difficult to pull this lever right now," Modi wrote.Broad-based inflation concerns have grown in the wake of a jump in energy prices amid the closure of the crucial Strait of Hormuz following the US-Israel war with Iran that started at the end of February. Markets are optimistic about a fresh round of talks between the US and Iran in Pakistan over the weekend.Several international markets have implemented energy restrictions and/or conservation measures amid supply concerns arising from the Iran war. This can result in mobility restrictions and market disruptions, potentially posing risk for Coca-Cola's business in certain overseas markets, according to the note.RBC has an outperform rating and an $87 price target on the Coca-Cola stock.Earlier this month, beverage and snacks giant PepsiCo (PEP) reported higher-than-expected fiscal first-quarter results amid affordability initiatives while reiterating its full-year outlook.Price: $76.60, Change: $+0.32, Percent Change: +0.42%

$KO$PEP
Wire

Alphabet's Google Cloud Collaborates With PepsiCo to Boost Digital Capabilities

PepsiCo (PEP) said Wednesday that it entered into a multi-year partnership with Alphabet's (GOOG, GOOGL) Google Cloud to help the food and beverage company build new digital capabilities across its global operations.The collaboration will have PepsiCo use the Gemini Enterprise Agent Platform to address business challenges such as supply chain management and go-to-market execution, PepsiCo said.Financial terms of the partnership were not provided.Price: $156.06, Change: $+1.14, Percent Change: +0.73%

$GOOG$GOOGL$PEP
US Markets

Nasdaq, S&P 500 Score Back-to-Back Record Highs

The Nasdaq Composite and the S&P 500 reached new peaks Thursday amid growing hopes for a resolution to the Middle East conflict.The Nasdaq rose 0.4% to 24,102.7, while the S&P 500 climbed 0.3% to 7,041.3, both notching record closing highs for a second consecutive day. The Nasdaq extended its winning streak to 12 days in a row.The Dow Jones Industrial Average added 0.2% to 48,578.7.Most sectors ended in the green, led by energy, while health care saw the biggest drop.US President Donald Trump said Thursday that Lebanon and Israel agreed to a 10-day ceasefire.Trump said in a social media post that he will invite Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun to the White House for "meaningful talks.""Both sides want to see peace, and I believe that will happen, quickly," he wrote.The ceasefire seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon, a key sticking point in peace negotiations between the US and Tehran.West Texas Intermediate crude oil was up 2.4% at $93.50 a barrel in Thursday late-afternoon trade, while Brent advanced 3.4% to $98.19."Oil is up over doubts that the Strait of Hormuz disruption will ease soon," D.A. Davidson said in a report.US Treasury yields were higher, with the 10-year rate up 2.6 basis points at 4.31% and the two-year rate rising 1.6 basis points to 3.79%.In company news, IBM (IBM) shares rose 2.5%, the third-top gainer on the Dow. The tech giant will likely exceed Wall Street's estimates for the first quarter and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note. IBM is scheduled to announce its quarterly results next week.Charles Schwab (SCHW) shares dropped 7.6%, the steepest decline on the S&P 500. The financial services provider's first-quarter results rose year over year amid a surge in client assets, though revenue fell short of the Street's estimates.Abbott Laboratories (ABT) followed Charles Schwab on the S&P 500, down 6%. The healthcare company lowered its full-year earnings outlook to reflect the acquisition of cancer diagnostics firm Exact Sciences.PepsiCo (PEP) reported higher-than-expected fiscal first-quarter results amid affordability initiatives, while the beverage and snacks company reiterated its full-year outlook. Its shares rose 2.3%.In economic news, US industrial production unexpectedly decreased in March, Federal Reserve data showed.It's too soon to blame the Middle East conflict for the drop, which was driven by "sharply falling" output in the mining and utilities sectors, Oxford Economics said in a note.Gold was last down 0.2% at $4,813.70 per troy ounce, while silver fell 1.2% to $78.68 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$IBM$PEP$SCHW
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 0.6%.In corporate news, Ford's (F) reorganization announced late Wednesday "makes sense," though the departure of Doug Field, the EV chief, risks unsettling investors, UBS Securities said. Ford shares dropped 1.8%.PepsiCo (PEP) reported higher-than-expected fiscal Q1 results amid affordability initiatives, while the company reiterated its full-year outlook. The shares rose 1.9%.Walmart (WMT) said it is making a "significant" investment across the US this year for remodels and opening new stores. Walmart shares were little changed.Tesla's (TSLA) Cybertruck sales were boosted by purchases from Elon Musk's other companies, Bloomberg reported, citing S&P Global Mobility registration data. Tesla shares declined 0.6%.

$F$PEP$TSLA$WMT
Wire

Evercore ISI Adjusts PepsiCo Price Target to $170 From $165, Maintains In Line Rating

PepsiCo (PEP) has an average rating of overweight and mean price target of $170.28, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $157.33, Change: $+2.47, Percent Change: +1.60%

$PEP
Sectors

Sector Update: Consumer Stocks Mixed Thursday Afternoon

Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.In corporate news, PepsiCo (PEP) reported higher-than-expected fiscal Q1 results on Thursday amid affordability initiatives, while the company reiterated its full-year outlook. Shares rose 2.8%.Walmart (WMT) said Thursday it is making a "significant" investment across the US this year for remodels and opening new stores. Walmart shares added 0.3%.Sales of Tesla's (TSLA) Cybertruck were boosted by purchases from Elon Musk's other companies, Bloomberg reported, citing S&P Global Mobility registration data. Tesla declined 1%.General Motors (GM) and Ford (F) are among several companies that have held discussions with senior US defense officials about supporting increased weapons and military supplies production, the Wall Street Journal reported. GM shares were down 0.4%, and Ford fell 1.9%.

$F$GM$PEP$TSLA$WMT
Research

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Pepsico, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our 12-month price target of $185, based on a 2027 P/E of 20.1x, a justified discount to PEP's five-year mean forward P/E of 22.4x. We maintain our adjusted EPS estimates of $8.65 for 2026 and $9.20 for 2027. Following PEP's stronger-than-expected Q1 earnings and reiteration of its 2026 EPS guidance, we remain at Buy. While the fundamental demand backdrop remains challenging, we think the reported uptick in food volumes (+4%) was a big positive, driven by EMEA (+9%) and the Asia Pacific regions (+9%). We view the challenges facing PEP as discounted at current levels, noting the stock's three consecutive down years (2023-2025), which highlights its strong earnings track record and management's history of conservative guidance. In our view, PEP is a beaten-down blue-chip name in an out-of-favor sector, offering significant value at current levels. Furthermore, we think pressure applied by activist shareholder Elliott Management is likely to drive enhanced operational focus.

$PEP
Sectors

Sector Update: Consumer

Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.In corporate news, PepsiCo (PEP) reported higher-than-expected fiscal Q1 results on Thursday amid affordability initiatives, while the beverage and snacks company reiterated its full-year outlook. Its shares rose 2.2%.

$PEP
Wire

Top Midday Stories: TSMC Earnings, Guidance Top Estimates But Shares Fall; PepsiCo Shares Rise Following Q1 Earnings Report

All three major US stock indexes were up in late-morning trading Thursday, as investors take in updates on the war in Iran as well as the latest large-company earnings reports.In company news, Taiwan Semiconductor Manufacturing (TSM), or TSMC, reported Q1 earnings Thursday of 22.08 New Taiwan dollars ($0.70) per diluted share, up from NT$13.94 a year earlier and above the FactSet consensus analyst estimate of NT$20.92. First-quarter net revenue was NT$1.134 trillion, up from NT$839.25 billion a year ago and above the FactSet consensus of NT$1.121 trillion. For Q2, the chipmaker said it expects net revenue of $39 billion to $40.2 billion, above the FactSet consensus of $38.09 billion. TSMC shares were down 1.9% around midday.PepsiCo (PEP) reported fiscal Q1 core earnings Thursday of $1.61 per diluted share, up from $1.48 a year earlier and above the FactSet consensus of $1.54. Fiscal Q1 net revenue was $19.44 billion, up from $17.92 billion a year ago and above the FactSet consensus of $18.95 billion. For fiscal 2026, PepsiCo said it continues to expect core constant currency EPS growth of 4% to 6% and organic revenue growth of between 2% and 4%. PepsiCo shares were up 2.1%.Abbott Laboratories (ABT) reported Q1 adjusted earnings Thursday of $1.15 per diluted share, up from $1.09 a year earlier and above the FactSet consensus of $1.14. First-quarter net sales were $11.16 billion, up from $10.36 billion a year ago and above the FactSet consensus of $11.00 billion. For Q2, Abbott said it expected adjusted diluted EPS of $1.25 to $1.31, below the FactSet consensus of $1.36. For full-year 2026, the company said it expects adjusted EPS of $5.38 to $5.58, down from its prior guidance of $5.55 to $5.80 and below the FactSet consensus of $5.60. Full-year 2026 comparable sales are expected to grow 6.5% to 7.5%, the company said. Abbott shares were down 4.4%.Charles Schwab (SCHW) reported Q1 adjusted earnings Thursday of $1.43 per diluted share, up from $1.04 a year earlier and above the FactSet consensus of $1.40. First-quarter net revenue was $6.48 billion, up from $5.60 billion a year ago but below the FactSet consensus of $6.50 billion. The company also said Thursday it will launch a spot cryptocurrency trading service for retail customers in the coming weeks. For a fee of 75 basis points per transaction, the platform will provide direct trading of bitcoin and ethereum alongside traditional investments, the company said. Shares of Schwab were down 4.8%.Stellantis (STLA) and Microsoft (MSFT) said Thursday they have signed a five-year strategic collaboration deal to co-develop advanced artificial intelligence, cybersecurity and engineering capabilities for the automaker's vehicles. Separately, Stellantis is planning a 100-million-euro ($117.9 million) investment to update its Poissy assembly plant near Paris, Bloomberg reported Thursday. The company will continue making vehicles at the facility through at least the end of 2028, the report said. Stellantis shares were down 0.8%, while Microsoft shares were up 1.6%.Oracle (ORCL) said Thursday it plans to expand its multicloud networking capabilities to provide high-performance connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares were up 4.1%, while Amazon shares were down 0.3%.Sales of Tesla's (TSLA) Cybertruck were boosted by purchases from Elon Musk's other companies, Bloomberg reported Thursday, citing S&P Global Mobility registration data. Tesla shares were down 1.1%.Price: $368.08, Change: $-7.02, Percent Change: -1.87%

$ABT$AMZN$MSFT$ORCL$PEP$SCHW$STLA$TSLA$TSM
Sectors

Sector Update: Consumer Stocks Edge Higher Pre-Bell Thursday

Consumer stocks were edging higher pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.2%.PepsiCo (PEP) stock was up 0.7% after the company posted higher fiscal Q1 core earnings and net revenue.Brown-Forman (BF.A, BF.B) continues to be in merger discussions with Pernod Ricard, Reuters reported, citing Pernod Ricard Chief Financial Officer Helene de Tissot. Brown-Forman shares were down 0.3% premarket.

$BF.A$BF.B$PEP$XLP$XLY
US Markets

PepsiCo Beats Fiscal First-Quarter Estimates; Maintains Full-Year Outlook

PepsiCo (PEP) reported higher-than-expected fiscal first-quarter results on Thursday amid affordability initiatives, while the beverage and snacks company reiterated its full-year outlook.Adjusted earnings came in at $1.61 a share for the quarter ended March 21, up from $1.48 the year before, topping the FactSet-polled consensus of $1.54. Revenue improved 8.5% to $19.44 billion, surpassing the Street's view of $18.95 billion. The stock increased 1.1% in the most recent premarket activity."We are pleased with our first-quarter results, which featured an acceleration in both net revenue and organic revenue growth," Chief Executive Ramon Laguarta said in a statement. "An extensive commercial agenda, which includes the restaging of large global brands, innovation activity and certain affordability initiatives, is being executed well and business performance improved."In February, PepsiCo announced plans to cut prices of several snack brands by up to 15%, including Lay's, Doritos and Cheetos. The move came after the company said in December that it was looking to lower prices and eliminate some of its products in the US to boost organic revenue growth following discussions with activist investor Elliott Investment Management.The company continues to project core EPS to rise by 5% to 7% on revenue growth of 4% to 6% for fiscal 2026. It also reaffirmed its organic revenue guidance of an increase of between 2% and 4%. The Street is looking for non-GAAP EPS of $8.60 and sales of $98.45 billion for the fiscal year."As we look ahead, the macroeconomic environment has become more volatile and uncertain because of ongoing geopolitical conflicts," Chief Financial Officer Steve Schmitt said in prepared remarks available on the company's website. "Systematic commodity hedging programs for market traded commodities are expected to provide some near-term protection and visibility on certain input costs."Overall net pricing had a positive impact of 2% on the topline in the first quarter, while consolidated organic volume was flat. Volume inclined 4% in the convenient food business and was unchanged in the beverages segment.PepsiCo's North America foods business, which includes Frito-Lay and Quaker Foods, advanced 2% to $6.33 billion. Sales in the North American beverages unit climbed to $6.39 billion from $5.88 billion. International beverages saw revenue jump 9% to $824 million."We are encouraged with the resilience of the international business while North America continued to make progress in the first quarter," according to Laguarta. "We aim to successfully execute our commercial plans and tightly manage costs to help fund investments to accelerate growth."

$PEP
Sectors

Sector Update: Consumer

Consumer stocks were edging higher pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) slightly advancing.PepsiCo (PEP) stock was up 0.3% after the company posted higher fiscal Q1 core earnings and net revenue.

$PEP
Research

Research Alert: Pepsico Q1 2026: Another Quarter, Another Earnings Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PepsiCo (PEP) posted Q1 2026 adjusted EPS of $1.61 vs. $1.48 (+9%), well ahead of the $1.55 consensus. The beat was owing to a stronger-than-expected top line, partially offset by weaker-than-expected margins, as net sales rose 8.5% to $19.44B ($510M ahead of consensus) and gross margin contracted 60 bps to 55.2% (20 bps below consensus). PEP's Q1 volumes for Convenient Foods were up 4% Y/Y, while Beverage volumes were flat. PEP maintained its full-year 2026 net sales and EPS guidance. PEP shares are trading 1% lower in the pre-market, which we attribute to the fact the company did not raise full-year guidance in light of its sizable Q1 beat. We do not think investors should be alarmed, however, as PEP boasts one of the strongest earnings track records of any company over the past several years, having posted a quarterly earnings miss only twice since 2008. In our view, much of that can be attributed to management's long history of conservative guidance, and we think that is likely to be the case again.

$PEP
Research

Research Alert: Pepsico Q1 2026: Another Quarter, Another Earnings Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PepsiCo (PEP) posted Q1 2026 adjusted EPS of $1.61 vs. $1.48 (+9%), well ahead of the $1.55 consensus. The beat was owing to a stronger-than-expected top line, partially offset by weaker-than-expected margins, as net sales rose 8.5% to $19.44B ($510M ahead of consensus) and gross margin contracted 60 bps to 55.2% (20 bps below consensus). PEP's Q1 volumes for Convenient Foods were up 4% Y/Y, while Beverage volumes were flat. PEP maintained its full-year 2026 net sales and EPS guidance. PEP shares are trading 1% lower in the pre-market, which we attribute to the fact the company did not raise full-year guidance in light of its sizable Q1 beat. We do not think investors should be alarmed, however, as PEP boasts one of the strongest earnings track records of any company over the past several years, having posted a quarterly earnings miss only twice since 2008. In our view, much of that can be attributed to management's long history of conservative guidance, and we think that is likely to be the case again.

$PEP

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