PepsiCo (PEP) gained 3.7% after reporting adjusted EPS up 2.18% to $2.34, beating expectations of $2.29. Revenue increased 5.60% to $25.27bn, ahead of consensus estimates of $24.96bn. Growth was supported by international markets and improving snack volumes, although North American beverage volumes fell 2% and core operating margins weakened. PepsiCo also cut its full year core EPS growth outlook to between 2.5% and 3.5%, from its previous range of 5% to 7%.