PepsiCo forecasts surprise drop in 2019 adjusted profit
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(Reuters) - PepsiCo Inc forecast a surprise drop in full-year profit on Friday, hit by a stronger dollar, increased investments in its business and a higher tax bill.Operating profit at Pepsi's North America beverages unit declined 12 percent in the quarter as it spent heavily on marketing Diet Pepsi and Pepsi Zero, to combat arch rival Coca-Cola's low-sugar offerings.The company expects 2019 adjusted profit per share to drop 3 percent to $5.50, while analysts on average had expected a 3.5..