PepsiCo beat Q3 profit and sales goals, despite lower overall profit and falling product volumes. CFO Jamie Caulfield is retiring and being replaced by Walmart exec Steve Schmitt, effective Nov. 10.
Celsius stock got a big upgrade ($70 target). The brand is growing again, and Alani is expected to boost sales via the new Pepsi deal.
Elliott Management's $4B PepsiCo stake pushes for strategic changes to boost its sagging share price. PepsiCo faces struggles in beverages (market share loss) and food (slowed growth), prompting calls for refranchising or a cost structure rethink.
Celsius & PepsiCo deepen partnership: Celsius acquires Rockstar (US/Canada), Alani Nu to PepsiCo distribution, PepsiCo invests $585M for ~11% stake. Celsius leads US energy strategy, PepsiCo handles distribution for full portfolio.
