As more people switch to Coke, some analysts are getting more worried about the state of archrival Pepsi.
Losing a beverage partnership would come as a blow to PepsiCo, which is struggling to improve sales in the country.
Fast-food chain KFC on Thursday signed Coca-Cola as its beverage partner for US stores, bringing to a close a relationship with PepsiCo that dates back about four decades.
KFC said it has struck a deal with Coca-Cola as its beverage provider at thousands of U.S. restaurants, a blow to longtime supplier PepsiCo.
PepsiCo Inc (NASDAQ:PEP, XETRA:PEP)'s slower-than-expected North America recovery warrants a valuation discount, but UBS says the size of that discount is hard to justify. The food and beverage giant's quarter gave both bulls and bears something to work with.
PepsiCo is raising prices on Doritos, Ruffles and SunChips by single-digit percentages just months after slashing prices to win back shoppers.
PepsiCo reported better-than-expected third-quarter earnings and revenue, but cut its full-year profit forecast. CNBC's Jim Cramer said improving sales growth and investments to revive demand are encouraging signs, though the beverage and snack giant still faces significant challenges.