Food Roundup: No Mergers for PepsiCo, Cadbury is All-Candy, Whole Foods Outlook Grim, and More

PepsiCo to Refrain from Acquisitions -- CEO Indra Nooyi said the drinks-and-snacks giant will concentrate on innovation. The company will "significantly" boost its research budget, she said. [Source: Bloomberg]

Cadbury Sells off Last of its Beverages Business -- The confectioner also said it will maintain its full-year forecast despite the recession. It also named a new CFO. [Source: Dow Jones]

Cracker Barrel Credit Rating Cut -- Standard & Poor's revised its outlook on the restaurant chain to "negative" from "stable." Last month, the company reported profits fell by 8 percent. [Source: AP]

Analyst: Whole Foods Outlook Grim -- JPMorgan's Charles Grom expects sales to fall 3.3 percent in the coming year. He says Whole Foods high-price image is turning off consumers. [Source: AP]