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The stock market is throwing a global party Spurred on by renewed optimism about the post-pandemic recovery and a strong fear of missing out, investors keep pushing stocks higher. What’s happening: The Dow Jones Industrial Average closed above 34,000 for the first time on Thursday as Wall Street celebrated a strong start to corporate earnings season. But US stocks aren’t the only ones getting love. MSCI’s broad gauge of global stocks, which covers 23 developed and 27 emerging markets, just hit an all-time high, too, while Europe’s Stoxx 600 index is on track for its seventh consecutive week of gains. ....
Snack sales lift PepsiCo’s organic revenue up 2.4% in Q1 PepsiCo’s Frito-Lay North America unit delivered 3 percent organic revenue growth at $4.24 billion, attributed to such innovations as Cheetos Crunch Pop Mix and Doritos 3D Crunch. Friday, April 16, 2021 9:04 AM UTC PepsiCo posted an organic revenue increase of 2.4 percent fuelled by strong snack sales due to consumer-centric innovations in snacks and its acquisition of South Africa’s Pioneer Foods and Chinese snack company Be & Cheery. Organic revenue strips out the impact of foreign currency. The pace is expected to pick in the second quarter with the accelerated return of the foodservice channel. ....
PepsiCo Q1 sales clear last year’s pandemic-inspired surge with innovations in snacks, energy drinks PepsiCo sales during the first three months of the year sailed passed the high bar set last year when the pandemic inspired pantry loading, despite challenges during the quarter, including temporary business disruptions due to the severe winter storms that hit Texas and the South. The company also established a strong foundation for future growth with “consumer centric innovation” in the energy and snacking segments, where company executives say they see significant growth potential as mobility returns to the US and consumers continue to balance additional obligations that arose out of the pandemic. ....