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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, to recap PepsiCo earnings. PepsiCo Inc. said it’s starting to see salty snack sales grow after the company cut prices earlier this year. The maker of Doritos and Lay’s said its strategy of slashing prices by up to 15% in some brands and reducing internal costs through layoffs and plant closures was starting to pay off. After years of declines, organic revenue in its North American foods division increased 1% and volume grew 2%, the company said in its first quarter earnings Thursday.

- Siddharth Phillip, Bloomberg News Chief Correspondent for Global Aviation on Airline Issues, on Spirit Airlines at Risk of Liquidation. is at risk of being liquidated as rising jet fuel prices spurred by the US war with Iran further squeeze the bankrupt budget carrier’s finances, according to people familiar with the matter. Any decision by the company to potentially liquidate could come as soon as this week, said the people, who asked not to be named because the discussions are private. The situation is fluid as Spirit engages in ongoing talks with its creditors, and its plans could still change, they added. A Spirit spokesperson declined to comment. Representatives of creditor groups didn’t return calls seeking comment.

-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, discusses U.S bank earnings. U.S. Bancorp posted first-quarter profit that beat estimates, as Chief Executive Officer Gunjan Kedia rounds out her first year leading the largest regional bank and boosting its stock. Net income of $1.84 billion surpassed the $1.78 billion consensus estimate from analysts. The bank also posted net revenue that was up 4.7% to $7.29 billion compared with a year earlier, helped by momentum in capital markets and investment services, according to a statement Thursday.

- Matthew Griffin, Bloomberg Equities reporter on Madison Air Prices Biggest US Industrial IPO in Nearly 27 Years. Madison Air Solutions Corp. raised $2.23 billion in the biggest US listing of an industrial company in close to three decades. The Chicago-based provider of ventilation and filtration systems sold 82.7 million shares at $27 each after marketing them for $25 to $27, according to a statement Wednesday. The offering was multiple times oversubscribed, people familiar have said.The pricing gives the company a market value of $13.2 billion based on the number of outstanding shares listed in its filings.