PepsiCo Gets Another Boost From Salty Snacks
- Shares rise as much as 4.3%, biggest gain since July 2014
- ‘Maniacally focused’ on getting soda unit back on track: CEO
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PepsiCo Inc., grappling with a slumping soda business, got another boost from its food operations.
Strong sales of Frito-Lay chips and Quaker oatmeal helped PepsiCo beat per-share profit estimates by 9 cents in the second quarter. The results sent the shares up as much as 4.3 percent Tuesday, the biggest intraday gain in four years.