Pepsi’s North America business is weighing it down

PepsiCo shares fell Tuesday morning after it reported sales that missed Wall Street estimates and gave investors a weak outlook for 2025.

The company reported $27.8 billion, slightly below what analysts polled by FactSet were expecting, sending the stock down more than 2% at market open. PepsiCo also said it expects to see a low single-digit increase in organic revenue for 2025.

The company’s disappointing sales were largely attributed to its lack of growth stateside, particularly in its Quaker Foods sector, which has seen a decline in organic growth for five straight quarters. Quaker Foods is still reeling from a December 2023 recall on some of its granola bars and cereals, the company said. Its Frito Lay sector has also seen a decline in organic growth for two straight quarters.

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Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

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Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

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Americans aren’t drinking as much Mexican beer — that’s not been good for Constellation

The nation’s largest beer importer by sales just saw a 10-year growth streak come to an abrupt end.

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