Business headlines this morning

[pdq]

Hopium only goes so far:

PepsiCo cuts annual profit forecast as trade war set to drive up costs

PepsiCo on Thursday cut its annual profit forecast and warned of higher production costs and volatility from a global trade war sparked by President Donald Trump's expansive tariffs.

…volumes declined 2% in the first quarter, PepsiCo said, as promotions on snacks and sodas take longer to boost demand…

Average prices jumped 3% in the three months ended March 22.

…Consumer goods bellwether Procter & Gamble and rival Kimberly-Clark have lowered their profit forecasts due to the uncertainty fueled by the ongoing trade war.

American Airlines pulls 2025 forecast as Trump tariffs cause demand uncertainty

American Airlines (AAL) withdrew its 2025 financial forecast on Thursday, mirroring its peers, as concerns over discretionary budget amid tariff pressures and government spending uncertainties hinder carriers' ability to predict travel demand.

…Southwest Airlines, the largest U.S. domestic carrier, withdrew its financial forecasts for 2025 and 2026, citing industry-wide volatility reminiscent of the COVID-19 era.

Smaller rival Alaska Air also scrapped its profit outlook for the year.

…The economic downturn is creating headwinds for major U.S. airlines, which, just two months ago, were benefiting from strong travel demand and solid pricing across their networks.

Union Pacific misses quarterly estimates on weak auto shipments

Trump trade war is wrecking hope for 2025 US trucking rebound

"Things have turned south in a hurry with this trade war that's emerging," Croke said of the outlook for U.S. trucking.

"None of the signals are good when it comes to truckload demand."

…and so on. But y’know, robotaxis are just around the corner, says Elmo (since 2015).

[pdq]

Oh, and PS:

China on Thursday denied U.S. President Donald Trump’s assertion that the two sides were involved in active negotiations over tariffs, saying that any suggestion of progress in this matter was …groundless…

Our fearless Orange Leader, blowing smoke? Say it ain’t so!

[Tiangou]

Worldwide, consumers are boycotting American products, such as Coke and Pepsi.

The world press is characterizing the latest “negotiations” as Trump desperately trying to negotiate with China while China is in a much stronger position and is ignoring his overtures.

[pdq]

I see China is now saying Cancel all your fool tariffs on us first; then we’ll talk.

They probably came up to him with tears in their eyes when they said that.

[GGD]

pdq wrote:
I see China is now saying Cancel all your fool tariffs on us first; then we’ll talk.

They probably came up to him with tears in their eyes when they said that.

They should go further and say all of his new tariffs on ALL countries.

[Lux Interior]

pdq wrote:
I see China is now saying Cancel all your fool tariffs on us first; then we’ll talk.

They probably came up to him with tears in their eyes when they said that.

"Sir! Sir! Please make a deal with us, sir!"


You know he's lying when he claims they call him "sir."

Well, he's always lying, so that's not too insightful.

[pdq]

It is kind of odd that he hasn’t struck a deal with any of those 50 countries - or was it 70? - that were breaking down his door to do so.

Well, maybe he has, but he’s just being modest about it. That’s probably it.

[jdc]

Is it bad for me to hate that the dow is up?

I just want it to keep dropping until he breaks. Every time its up, its like a little win.

And soon enough it will be "I brought the dow back after its worst ever performance"... that u caused, natch.

[Acer]

Call me when the market holds 1% above its high in January for more than a week.

[Lemon Drop]

Oh the irony...Trump will be the president who finally hands China the title of world's strongest country...Best economy, most influence, most negotiating power, greatest scientific and technological advances..hell at this rate they'll probably surpass us in standing up for human and civil rights too.

Sad.