Pepsi beats quarterly profit forecast but warns of slowing snack demand


Inflation: Price pressures in the US are expected to have eased in June, with the consumer price index forecast to be up 3.1 per cent annually from May’s reading of 3.3 per cent, according to economists polled by Reuters. Annual growth in “core” CPI, which strips out volatile food and energy costs, is projected to stay at 3.4 per cent.

PepsiCo: Investors will be paying attention to what insights on consumer demand the fizzy drinks and snack maker will provide when it reports results before Wall Street’s opening bell. The market may also be on the lookout for whether growth at its Frito-Lay division has picked up after a sluggish first quarter. Analysts expect PepsiCo to report that group revenue in the second quarter rose 1 per cent from a year earlier.

Jobless claims: Initial applications for US state unemployment aid — a proxy for lay-offs — are expected to have fallen to 236,000 last week from 238,000 the previous week, as official statistics for June suggest the country’s labour market is showing signs of cooling. 

Delta Air Lines: The carrier will report second-quarter earnings before the market opens. The airline, which was relatively unaffected by Boeing’s production and delivery issues, enjoyed a record first quarter.



Also Read More: World News | Entertainment News | Celeb News

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

State trooper’s vulgar texts about ‘babe’ murder suspect could affect other high-profile case, expert warns

Join Fox News for access to this content Plus special access to…

Uber faces £250mn lawsuit from London’s black-cab drivers

Unlock the Editor’s Digest for free Uber is facing a multimillion-pound lawsuit…

The rare earths mine becoming a bellwether for US minerals policy

A site close to Kruger National Park in South Africa is becoming…

Rishi Sunak’s ‘hung parliament’ claim rests on heroic assumptions

Unlock the Editor’s Digest for free This article is an onsite version…