Stocks
PepsiCo Tumbles Amidst Coca-Cola's Record Run
PepsiCo's stock has fallen to within $10 of its 52-week low at $143.48, while Coca-Cola trades near a record high.
This divergence raises questions about whether PepsiCo's discount reflects a business in decline or an overpriced market.
The company's CFO, Stephen Schmitt, acknowledged that North America was softer than expected in the second quarter and guided to improvement at a more moderate pace.
PepsiCo's international revenue grew 7% and is accelerating, with EMEA and Latin America Foods posting double-digit gains.