PepsiCo shutters 60-year-old Maryland plant, laying off 143 workers as weakening soda demand drives nationwide closures

ZET SCALE, backed by Microsoft and PepsiCo, ordered 2,500 Tesla electric trucks, the largest U.S. order of its kind. Tesla is the primary supplier, with Kenworth, RIDE, and Volvo as secondary options. The alliance aims to scale to 10,000 trucks, using pooled demand to reduce financial risk. The trucks will operate across ten major U.S. freight hubs.

Novo Nordisk will cut U.S. list prices for Ozempic and Wegovy by 34% and 50% respectively, starting in 2027. Eli Lilly's new GLP-1 pill, Foundayo, was approved by the FDA. Prices vary by insurance coverage. Some employers, like PepsiCo and Cigna, are ending weight loss drug coverage. New drugs from Lilly, Novo Nordisk, and Amgen are in development.

PepsiCo shares declined 0.5% after Bloomberg reported the company plans to raise prices on some chips, soda, and dips by a low-to-mid single-digit percentage, reversing earlier price cuts that did not boost sales. The increases, expected by early 2027, will not exceed pre-cut levels. PepsiCo aims to balance inflation with affordability. According to Bloomberg, the reversal highlights challenges in consumer goods.

Microsoft and PepsiCo joined a coalition to order 2,500 electric trucks from Tesla, the largest U.S. order of its kind. The trucks will be leased through ZET Financial's program, aiming to double the U.S. electric Class 8 fleet. Tesla was the primary OEM selected, with Kenworth, RIDE, and Volvo as secondary options.

PepsiCo has appointed Joaquin Duato, CEO of Johnson & Johnson, to its board of directors and audit committee. Duato will receive 1,000 shares and a prorated annual equity package valued at $166,667, plus cash compensation. He brings over three decades of experience in large-scale distribution and international supply chains.

PepsiCo Inc. (NASDAQ:PEP) announced the election of Joaquin Duato, CEO of Johnson & Johnson, to its board of directors, effective December 1, 2026. Duato will join the Audit Committee and brings extensive experience in leading a large multinational corporation. PepsiCo reported nearly $94 billion in net revenue in 2025, according to the company.