Piper Sandler cuts PepsiCo PT to $140 from $176.

As Baltic states move to block Russian grain through their ports, Lithuania said it will push the EU to ban Russian grain transit and to sanction Russian agricultural oligarchs. The Lithuanian prime minister said prior tolerance reflected the principle that EU sanctions do not cover food; Lithuania will propose a transit ban and support adding specific Russian agricultural figures who back the war to the EU sanctions list. She said she has discussed the issue with Latvia’s prime minister and both favour seeking an EU-level solution.

Iran's deputy interior minister said Trump has resumed sanctions and a 'maximum pressure' policy. He said that although Trump knows past sanctions were ineffective and cannot break the will of the Iranian people, the reprise appears aimed at creating bargaining chips to force concessions in future negotiations.