$PEP (3%) YTD Loss to $132  MA (50)=$129  Q1'20 YOY Rev=$13.9B PepsiCo Beverages=$4.8B Frito=$4.1B Europe=$1.8B LATAM=$1.3B  P/L=$1.4B  -Acquired Rockstar for $3.85B &gt; Compete in energy drink space -Distribution agreement w/ Vital Pharma  '20 Outlook *Repurchases=$2B *Rev=$65B