Weakening business activity worldwide is hitting U.S. companies where it hurts, with more of them signaling disappointing results than at any time over the past decade.
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Pepsico
Pepsico’s New Plant-Based Bottle
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Many bellwether companies, including two Dow[.DJIA 12573.57 — UNCH 
] components, have come out in recent days with profit warnings, and the slowing in Europe has been cited as a major factor for those outlooks.
For every company that has raised its second-quarter profit outlook, 3.6 have warned, the worst ratio since the third quarter of 2001, according to Thomson Reuters data.
Firms including PepsiCo [PEP 68.50 
-0.41 (-0.59%) ], package shipper FedEx[FDX 90.63 -0.71 (-0.78%) ] and tobacco company Philip Morris [PM 85.60 -2.91 (-3.29%) ] all lowered earnings expectations in recent days, citing concerns about Europe.”
