PepsiCo faces GLP-1 and Elliott pressure

What happened: PepsiCo faces pressure from Elliott and GLP-1 weight-loss drugs as it reports earnings, with North America volumes falling and CEO Ramon Laguarta citing higher input costs and sticky inflation. Key numbers: Q3 revenue expected up 4.3% to $24.96 billion; adjusted EPS expected about $2.29, up 0.21%. Why it matters: Analysts say North America improvement will be gradual, with TD Cowen's Robert Moskow saying Frito-Lay efforts fell short and market share is being lost. Aptus Capital Advisors' David Wagner said investors want pricing power that keeps pace with Coca-Cola.

PepsiCo faces pressure from Elliott and GLP-1 weight-loss drugs as it reports earnings, with North America volumes falling and CEO Ramon Laguarta citing higher input costs and sticky inflation.

Analysts say North America improvement will be gradual, with TD Cowen's Robert Moskow saying Frito-Lay efforts fell short and market share is being lost. Aptus Capital Advisors' David Wagner said investors want pricing power that keeps pace with Coca-Cola.