A truck with Pepsi logo on a semitrailer is seen at Interstate 95 highway in Maryland, United States, on October 21, 2022.Beata Zawrzel | Nurphoto | Getty ImagesPepsiCo on Tuesday lowered its full-year outlook for organic revenue after its second straight quarter of weaker-than-expected sales.The repercussions of the Quaker Foods North America recalls, weakening demand in the U.S. and business disruptions in some international markets weighed on the company’s performance this quarter, CEO Ramon Laguarta said in a statement.For 2024, Pepsi now expects a low-single-digit increase in organic revenue, down from its prior outlook of 4% growth. The company reiterated…
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(This is CNBC Pro’s live coverage of Tuesday analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Two stocks that have underperformed are among the favorites for analysts who see opportunity ahead in the companies. A Wolfe Research analyst raised his view on troubled bank stock Wells Fargo, reasoning that regulatory and interest rate risks both are priced into the stock. Elsewhere, Bernstein slashed its price target on health insurer Humana but upgraded the stock based on its outlook. Check out the latest calls and chatter below. All times ET. 6:13 a.m.: Humana…
Uber is driving on the road in Krakow, Poland, on July 4, 2024. Nurphoto | Nurphoto | Getty ImagesUber CEO Dara Khosrowshahi on Tuesday announced that the company is updating its platform with new sustainability-minded features, including an “EV preference” that will let customers opt for fully electric vehicles by default, whenever they hail a ride.The company previously launched an “Uber Green,” service which has historically included a mix of battery electric vehicles, and hybrid electric models. Now, Uber can offer battery electric vehicles as the sole “green” option in more than 40 cities globally, executives said at Uber’s annual Go…
HAIKOU, CHINA – DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of China. Meng Zhongde | Visual China Group | Getty ImagesChina will start to impose provisional anti-dumping measures on brandy products imported from the European Union this week, according to a notice from the Ministry of Commerce on Tuesday.Chinese customs officials will collect security deposits from companies that sell brandy originated from the bloc beginning this Friday. The deposit amount would be between 30.6% to…
Two former executives of Humane, the embattled AI hardware startup, are reemerging with a new artificial intelligence software venture that has raised $4 million at a $25 million valuation. Brooke Hartley Moy and Ken Kocienda, Humane’s former strategic partnerships lead and head of product engineering, respectively, are debuting Infactory, an AI fact-checking search engine. The pair departed Humane in May, weeks after its AI Pin’s lukewarm debut. Infactory’s tool aims to search any company’s own enterprise database, as well as the open web, in a transparent and explainable way, Kocienda told CNBC. He and Hartley Moy are marketing the startup toward enterprise…
Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda.Charly Triballeau | AFP | Getty ImagesSaudi Arabia’s Public Investment Fund (PIF) trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom’s mammoth sovereign wealth fund said it was considering upping its stake.The PIF reduced its stakehold in the Japanese video game giant to 7.54% from 8.58% previously, according to a Japanese regulatory filing.Prince Faisal bin Bandar bin Sultan al-Saud — vice chairman at Savvy Games Group, the PIF’s gaming-focused subsidiary —…
Florida Governor Ron DeSantis speaks during a press conference at the State Emergency Operations Center in Tallahassee, Florida, on September 26, 2024 as Hurricane Helene was set to slam into the Florida coast as a “catastrophic” Category 4 storm.Chandan Khanna | AFP | Getty ImagesFlorida Gov. Ron DeSantis is not taking calls from Vice President Kamala Harris about storm recovery just over a week after Hurricane Helene hammered parts of his state.A source familiar with the situation said he was dodging the Democratic presidential nominee’s calls because they “seemed political,” according to a DeSantis aide. “Kamala was trying to reach out, and we…
A construction site in the Fangshan district of Beijing in 2013.Tomohiro Ohsumi | Bloomberg | Getty ImagesChina’s economic growth rate is expected to decline further in 2025 despite a temporary boost from a raft of recent stimulus measures, according to the World Bank. The international lender estimated that China’s growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. The 2024 figure is up 0.3% from the bank’s forecast in April and comes after Beijing rolled out stimulus measures last week, boosting investor confidence and prompting a stock market rally, which…
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