Updated version 1 - PepsiCo will cut costs as weak North American business weighs on annual core profit outlook

07:34 AM EDT, 10/08/2026 (MT Newswires) -- Movado (MOV) said Thursday that it has agreed to sell a 95% stake in its EBEL luxury watch brand for $66.5 million to a group led by Montres Journe, with participation from Chanel and Pierre Jacques. The deal enables Movado to deepen its focus on its core luxury and fashion watch and jewelry products, it said. Movado said it will initially transfer EBEL's intellectual property, inventory, and certain other assets to a newly formed Swiss unit, while retaining a 5% stake in the business. The transaction, expected to close in the next few months, is subject to adjustments and closing conditions, the company said.

Hydreight Technologies disclosed a C$ 300,000 minority investment in Insu Therapeutics, completed on March 13, 2026. The deal also granted Hydreight U.S. distribution rights for peptide medicines using Insu’s buccal delivery technology, subject to development success. Insu received a USPTO Notice of Allowance on a buccal peptide-delivery patent application, reinforcing Hydreight’s strategic stake. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hydreight Technologies Inc. published the original content used to generate this news brief via CNW (Ref. ID: 202610080730CANADANWCANADAPR_C0229) on October 08, 2026, and is solely responsible for the information contained therein.

On October 8th, after KeyBanc upgraded the rating of power equipment manufacturer Generac (GNRC.N) from "sector weight" to "overweight," Generac's stock price rose 1.2% in pre-market trading to $224. The brokerage stated that GNRC's data center power supply agreement with Amazon.com (AMZN.O) validates its position as a leading generator supplier. According to the brokerage, GNRC's management plans to achieve $3 billion to $3.2 billion in data center revenue by 2028 and remains confident in boosting supply chain capacity. KeyBanc also highlighted that, following multiple divestitures of portfolio assets, management continues to maintain a disciplined approach to capital allocation. As of the previous trading day's close, GNRC’s cumulative year-to-date gains exceeded 62%.

INEGI data shows that in September, auto exports fell 12% year-on-year. During the review negotiations of the US-Mexico-Canada Agreement (USMCA), Mexican automobiles continue to face effective US tariffs of 10% to 12%. Domestic auto sales in September grew by 8%, helping to ease pressure on the industry. Sarah Morland, Reuters, Mexico City, October 8 – Data released by the Mexican National Institute of Statistics and Geography (INEGI) on Wednesday showed that the country’s auto exports in September recorded their biggest drop so far this year. Analysts believe this decline is due to US tariff policies—the US is the largest market for this sector in the Latin American country. In September, Mexican auto exports dropped 12% year-on-year, marking the largest decrease since December 2025, while production plummeted by 15%. However, domestic sales grew by 8%, which to some extent eased the pressure on this crucial manufacturing sector. The data was released as government officials are reviewing the US-Mexico-Canada Free Trade Agreement. Even as negotiations continue, Mexican automobiles are still subject to a 25% tariff. Mexican officials estimate that complying with the requirement to use North American-made parts can reduce the tariff burden to 10%-12%. After over thirty years of consecutive free trade agreement signings, the two countries’ economies have become tightly entwined. However, the abrupt policy changes and tariff measures during the Trump administration shook business owners’ trust in long-established supply chains. “This brings greater uncertainty for automakers and impacts production and export decisions,” said Janeth Quiroz, Director of Economic Analysis at Monex. She warned that Mexico’s dependence on the US market represents the biggest risk to the industry. “The September data is a warning, not a crisis signal,” she said. “If this trend continues into 2027, then we may indeed face deeper structural problems in Mexican manufacturing.” Last year, General Motors announced a $4 billions investment to shift some production from Mexico to the US in response to volatile tariff policies. This Chevrolet maker, along with Ford and Nissan, saw a significant drop in exports in September. Mercedes-Benz closed its joint venture plant with Nissan in May last year, and last month did not produce or export any cars—the first time this has happened since the company began shipping overseas eight years ago. However, other companies filled this gap, most notably South Korea’s Kia, Germany’s BMW, and Japan’s Mazda, with Mazda’s exports more than doubling in the month. The main auto industry association in Mexico, AMIA, emphasized at a press conference on Wednesday that Mexico remains the largest source of US auto imports, supplying 16% of light vehicles in an American market that has shrunk by 2% so far this year. AMIA data shows that although exports to the US fell by 5% in the first nine months of 2026, Canada—Mexico’s second largest market—increased its purchases by more than 9%. Alejandra Vargas, an analyst for Ve Por Mas (Bx+), warned that the ongoing slowdown in growth could impact automakers’ investment decisions and affect both Mexico’s manufacturing activity and overall economic growth. “The development of Mexico’s trade relationship with the US in the coming months will continue to be the main factor determining the direction of the industry,” she said.