PepsiCo shares slip as defensive stocks sit out tech gains
PepsiCo shares fell 2.8% to $146.28 Tuesday, underperforming the S&P 500’s 0.5% gain. The company plans to raise prices on some single-serve chip bags by up to 20 cents in late June. PepsiCo also secured two new $5 billion revolving credit lines, according to a May 22 SEC filing. Coca-Cola shares slipped 1.2%, while Keurig Dr Pepper rose 2.4%.
