Solid Results Bolster Pepsi's Stance

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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.

As Phone Growth Slows, Carriers Turn to Tablets

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Wireless companies have been jockeying for new subscribers in a market where there are more active cellphone plans than there are people. Carriers have found the answer in tablets.

Condé Nast Shakes Up Senior Management Ranks

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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.

Whirlpool Hit by Falling Sales Outside U.S.

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Whirlpool, hurt by falling sales outside the U.S., reported a 9.6% drop in profit for the second quarter and reduced its forecast for the full year.

Data-Storage Provider EMC's Profit Falls

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Data-storage provider EMC said its second-quarter earnings fell 16% as an increase in revenue was offset by a rise in costs.

Delta, American Still Not Flying to Israel

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Delta Air Lines and the US Airways unit of American Airlines Group said Wednesday that they will extend their suspension of flights to Tel Aviv through Wednesday.

Retail Trade Group Cuts Yearly Outlook

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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.

For Apple, iPhone Roars and iPad Whimpers

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Apple reported a 13% jump in iPhone sales as it heads into a major refresh of the company's flagship product, but iPad sales slid for the second consecutive quarter.

Glaxo Reduces Earnings Forecast

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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 Profit Boosted by Mercedes

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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.

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