These 5 Stocks Are Making Headlines on Tuesday

4. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 62

Shares of PepsiCo, Inc. (NASDAQ:PEP) turned green in the pre-market trading session today after the New York-based snack and beverage giant beat profit and sales expectations for its fiscal second quarter.

PepsiCo, Inc. (NASDAQ:PEP) reported adjusted earnings of $1.86 per share, topping estimates of $1.74 per share. In addition, revenue for the quarter rose 5.2 percent versus last year to $20.23 billion, beating the consensus of $19.51 billion.

Separately, investment management firm ClearBridge Investments talked about PepsiCo, Inc. (NASDAQ:PEP) in its fourth-quarter 2021 investor letter, stating:

“The pandemic created opportunities for us to be more aggressive in a variety of areas of the market. We were opportunistic throughout the year. After a strong year for equities, we sought to bolster more defensive areas of the portfolio and added to PepsiCo, increasing our exposure to a high-quality and stable name.”