0318 GMT - PepsiCo Inc. is the most mentioned company over the past 12 hours, according to Factiva data, after the beverage and snack maker reported strong revenue amid continued consumer demand for its snacks despite higher prices. The company raised prices by 10% in the first quarter of this year and 7% in the fourth quarter of last year to offset rising costs. Revenue rose 5.2% to $20.23 billion in the second quarter, beating the consensus view of $19.51 billion. Chief Executive Ramon Laguarta said a recession is likely coming, and the company is preparing for different scenarios, with potential plans including a reduction in capital spending, an increase in automation and a shift in investments from growth to productivity. Shares traded higher intraday on Tuesday but slipped in afternoon trading to close 0.6% lower. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)


(END) Dow Jones Newswires

07-12-22 2333ET