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Today's Summary

PepsiCo is expanding its sports reach once again with a new global partnership with the Mercedes-AMG PETRONAS Formula 1 Team. The multi-year agreement marks the first time PepsiCo has deployed multiple category leaders in tandem with an F1 team. The Federal Trade Commission claimed Walmart received unfair pricing advantages. PepsiCo says it will reduce prices and eliminate about 20% of its products by early 2026 in a deal with an activist investor. Elliott Investment Management took a $4 billion stake in the company in September. Elliott partner Marc Steinberg praised PepsiCos early steps, saying the company has shown “urgency”