Strong demand for virus testing services; snacking surges
Quest Diagnostics is seeing growing demand for its COVID-19 testing services. PerkinElmer anticipates its second-quarter revenue will climb approximately 12%. The company said Monday that the increase was driven by better-than-expected demand for its full-suite of solutions aimed at helping support customers’ COVID-19 testing needs around the world. The munchies are real in quarantine, with PepsiCo reporting its snack sales rose in the second quarter while beverage sales declined. Sales for the Frito Lay division climbed 7% in the period, while Quaker Foods revenue increased 23%. The North American beverage unit experienced a 7% decline in revenue.