PepsiCo stock beats market drop as sugar-tax pressure returns; earnings next test
PepsiCo shares rose 1.5% to $143.48 Tuesday, outperforming a falling U.S. market. The World Health Organization renewed calls for higher sugary drink taxes, raising policy risks for soda makers. PepsiCo will report earnings on Feb. 3. The company plans to close three U.S. plants and cut nearly 20% of its domestic SKUs.