STZ - Pepsi Reported Rising Profits But Demand Continues To Shrink At Its Home Market | Benzinga
Before the markets opened on Thursday. PepsiCo Inc (NASDAQ: PEP) issued its second quarter financials. While earnings surpassed Wall Street estimates, revenue came short as its three North American business units reported a declining volume. In addition, Pepsi was more cautious with its full-year sales outlook. As a result, its shares were down 1.7% during premarket trading.
One of its rivals one the global snacks and beverages front, Mondelez International (NASDAQ: MDLZ) is scheduled to announce its fiscal second quarter earnings on Thursday, July 25th. Over the last four quarters, Mondelez has consecutively surpassed earnings estimates. But Mondelez, known as the Oreo and Cadbury maker, was also fined $366 million a month ago for rigging European markets. More precisely, the EU regulators found that since 2016, Mondelez has been hindering the trade of chocolate, cookies and coffee between European Union countries in order maintain high prices of its products. Mondelez has been deliberately limiting cross-border sales within the EU, abusing its dominant position. Responding to the commission who found its illegal practices prevented retailers from being able to ...