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Pepsi profits beat, CFO disses Peltz on Mondelez

Pepsi Bottle

After PepsiCo's strong earnings report that was boosted by Frito-Lay sales, CFO Hugh Johnston took a dig at the motivations of investor Nelson Peltz's call for the company to cast off its soft drinks operations and buy Mondelez.

Caterpillar cuts year outlook, CEO counters Chanos

Small Caterpillar

Caterpillar reported a lower quarterly profit on Wednesday and cut its outlook for full-year earnings, saying its independent dealers were focused on reducing machine inventories rather than building them up.