Markets faltered last week as a shaky start to the quarterly corporate earnings reporting season dampened investor sentiment. The blue-chip S&P 500 and technology focussed Nasdaq indices fell 0.6% and 0.1% respectively.
PepsiCo kicked off earnings season, reporting a 5% increase in net revenue to $20.2 billion. The drinks and snacks company revealed it offset higher input costs by raising the prices of its products by 12% during the quarter without much pushback from customers. CFO Hugh Johnston warned more price hikes are inevitable, although the company may also adjust product sizes as an alternative in some cases.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
