PepsiCo raised its full-year profit forecast as it reported better-than expected second-quarter results on higher sales and lower costs, giving management new ammunition to fend off calls from activist investor Nelson Peltz to split up the snack and beverage giant.
Magazine publisher Condé Nast has shaken up its senior management ranks, broadening the portfolio of its president, Bob Sauerberg, and making him the clear favorite to eventually succeed CEO Chuck Townsend.
Retail sales this year are likely to be lower than expected, the retail industry's main trade group said Wednesday, as chains struggle to lure consumers back to their stores after a harsh, long winter.
GlaxoSmithKline downgraded full-year earnings expectations, as its second-quarter profit was hit by currency moves, weak sales of its respiratory drugs and the continuing bribery investigation in China.
Daimler reported a sharp rise in second-quarter operating earnings, driven by record sales in its Mercedes-Benz luxury car division, as the German auto maker races to catch up with rivals BMW and Audi.