News about beverages

KFC will switch to Coca-Cola beverages starting in January, serving them at all its U.S. restaurants by spring and ending a years-long partnership with PepsiCo, affecting about 3,700 U.S. locations according to TD Cowen analyst Robert Moskow. Marriott switched earlier this year and Costco's food courts did so last year. Based on TD Cowen's retail data, Coca-Cola gained 70 basis points of carbonated soft drink market share over two years while Pepsi lost 130 basis points, or about 1.3%. PepsiCo's stock is down around 10.6% so far this year, and the company cut its profit outlook last week, though Moskow said he still could not pin down what caused Pepsi's weaker execution. On Thursday, PepsiCo shares fell 0.7%, Yum Brands rose 2.8%, and Coca-Cola edged up 0.2%.