Spain's Socialists won't seek to form government if lose July votes

MADRID (Reuters) – Spain’s Socialist party (PSOE) spokeswoman said on Tuesday that the party will not make a fresh attempt to name acting Prime Minister Pedro Sanchez as the new premier if he fails to win two investiture votes in July, pointing to a new national election.

Fed Chairman Powell’s job is ‘safe,’ White House’s Kudlow says

Federal Reserve Chairman Jerome Powell’s job is "safe" and "there is no effort to remove him," said White House National Economic Council Director Larry Kudlow on Tuesday. Kudlow was speaking at a CNBC event. President Donald Trump has been critical of Powell and the Fed over the central bank’s interest-rate hikes, and Kudlow repeated his belief that the Fed can "take back" its December rate increase.

PepsiCo results powered by demand for sodas, chips

Pepsi’s new ‘Snackbots’ delivering snacks on college campuses

FBN’s Cheryl Casone talks to PepsiCo’s Jeff Klein about the company’s ‘Snackbots,’ self-driven robots that deliver snacks.

PepsiCo beat analysts' estimates for quarterly revenue and profit on Tuesday, as the company benefited from demand for its sodas and Lays chips, as well as its sparkling waters.

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Revenue in its snacking division, Frito-Lay North America, rose 4.5 percent, while it increased 2.5 percent in its beverage unit.

PepsiCo launched berry, lime and mango flavored sodas in 12-ounce cans earlier this year and introduced Bubly sparkling water in fruity flavors as well as healthier chips such as Bare's apple chips and Off the Eaten Path's veggie crisps.

Organic revenue, which excludes the effect of currency fluctuations and acquisitions, increased 4.5 percent.

Three analysts polled by Refinitv IBES had expected a 4.87 percent growth in organic revenue.

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Net revenue rose 2.2 percent to $16.45 billion in the second quarter ended June 15 from a year earlier.

Net income attributable to the company rose to $2.04 billion, or $1.44 per share, from $1.82 billion, or $1.28 per share, a year earlier.

Excluding one-time items, the company earned $1.54 per share.

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Analysts on average had expected profit of $1.50 per share and revenue of $16.43 billion.

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

15-Year-Old Shocks Venus Williams At Wimbledon

In one of the most sensational upsets in Wimbledon history, 15-year- old schoolgirl Cori ‘Coco’ Gauff defeated five-time champion Venus Williams in the first round.

In a match held at No.1 Court Monday, the world No.313 player, brimming with confidence, won in straight sets (6-4, 6-4) in 79 minutes.

The girl from Atlanta broke into tears in her moment of victory against a player 24 years older.

Venus, who won two of her Grand Slam titles before Gauff was born, is looking decrepit these days. The legend has slipped to No.44 in the world, and may soon fall from the top 100.

Gauff is the youngest player to win a match at Wimbledon since Jennifer Capriati in 1991.

Gauff, nicknamed Coco, said her goal was to play her best. “My dream was to win. That’s what happened”.

The daughter of sporting parents, Gauff created ripples in the world of tennis two years ago when she became the youngest US Open girls singles finalist. And a year later she won the girls French Open at the age of 14.

Watching her stunning performance, former champions Tracy Austin and John McEnroe predicted that the teenage sensation will reach great heights in Tennis.

Spotify just launched a smaller, faster version of its app for emerging markets

Spotify launched a simplified version of its platform on Tuesday, aimed at users in emerging markets who have older devices or operating systems.

Spotify Lite, described by the music streaming giant as a"small, fast and simplified version" of its flagship service, will be available immediately in 36 markets across Asia, Latin America, the Middle East and Africa.

"You'll still be able to search and play your favorite songs and artists, save them, share with others, discover new music, and enjoy playlists made just for you, but with a few extra features making it ideal for older devices and operating systems," Spotify said in a blog post on Tuesday.

Spotify Lite functions on all Android phones running the software version 4.3 or higher. The app requires just 10 MB of storage to be installed, and offers users the option to set a data limit to control how much data they use on streaming music.

https://www.youtube.com/embed/PUOTD-t0xKQ

The Lite version – available to users of Spotify's free service as well as its premium subscribers – can be used alongside the main app or as an independent platform.

"Spotify Lite was built from the ground up based on user feedback from around the world, allowing millions more to enjoy the world's best music experience — especially in areas with limited bandwidth and phone storage," said Kalle Persson, Senior Product Manager at Spotify, in a press release.

Optical networking stocks surge after Cisco’s deal to buy Acacia

Optical networking products company stocks surged in premarket trading Tuesday, as Cisco Systems Inc.’s CSCO, -0.72%deal to Acacia Communications Inc. ACIA, -0.17% for a hefty premium provided a boost. Shares of NeoPhotonics Corp. NPTN, -1.38% jumped 7.0% ahead of the open, Applied Optoelectronics Inc. AAOI, -2.64% rallied 8.9%, Lumentum Holdings Inc. LITE, -2.82% climbed 3.9%, II-VI Inc. IIVI, -2.99% advanced 3.3% and Finisar Corp. FNSR, -1.21% hiked up 2.9%. The gains bucked weakness in technology sector and the broader stock market, as futures NQU19, -0.36% for the technology-heavy Nasdaq 100 NDX, +1.61% fell 0.3% and futures ESU19, -0.35% for the S&P 500 SPX, -0.48% declined 0.3%. Acacia’s stock rocketed 37% in premarket trading, while Cisco shares fell 1.3%.