Wall Street wasn't able to keep its positive momentum going on Monday, and Tuesday morning's premarket session didn't look that much more promising. Major market indexes were mixed as investors tried to parse through all the conflicting economic data and other factors coming into play. With a key reading on inflation expected on Wednesday, it's possible that Tuesday will prove to be more of a waiting game for the markets. As of 8:45 a.m. ET, futures contracts on the Dow Jones Industrial Average (^DJI 0.22%) were down 209 points to 30,931. S&P 500 (^GSPC 0.09%) futures were off 17 points to 3,840, but Nasdaq Composite (^IXIC 0.11%) futures inched higher by 3 points to 11,887.

Earnings season is starting this week, and one of the first companies to report was PepsiCo (PEP -0.39%). Its financial results were reasonably good, but there was another stock that fared even better. Below, you'll learn more about how the soft drink and snack giant performed, as well as the name of today's big stock winner.

PepsiCo fizzes higher

Shares of PepsiCo were higher by more than 1% on Tuesday morning. Investors seemed to be reasonably pleased with the  company's second-quarter results.

PepsiCo enjoyed a 5.2% rise in revenue in the second quarter, overcoming a negative impact from the strong U.S. dollar that took away about 3 percentage points of sales growth. On an adjusted basis, core earnings came in at $1.86 per share, which was 10% higher than in the year-ago period.

Many of PepsiCo's business units stood out as strong performers. In North America, the Frito-Lay and Quaker Foods segments had strong double-digit percentage gains in organic sales, and PepsiCo's operations in Latin America and in the Africa, Middle East, and South Asia region were both up more than 20% year over year. That overcame some sluggishness in Europe and in the beverage unit in North America, but even there, PepsiCo posted 9% organic sales gains.

Moreover, PepsiCo expects stronger growth for the remainder of the year. The company boosted its organic revenue growth projections by 2 percentage points to 10% for fiscal 2022. It continues to expect an 8% rise in core earnings per share and will keep paying both ample dividends and sizable stock buybacks.

Investors weren't sure what to expect from PepsiCo, so the news was well-received. Now, it'll be up to the soft drink and snack giant to keep executing well for the rest of 2022 and beyond.

Canoo gets the Walmart seal of approval

But posting the biggest gains on Tuesday morning was Canoo (GOEV -9.25%). The electric vehicle specialist  got great news from a huge customer that boosted the stock price by more than 75% in premarket trading.

Walmart (WMT -0.46%) announced that it would buy 4,500 of Canoo's electric delivery vehicles. The retailer intends to use the vehicles for last-mile deliveries as it continues to build out its e-commerce business. Walmart will have the option to buy up to 10,000 units.

Canoo and Walmart don't expect the Lifestyle Delivery Vehicle (LDV) to show up on highways until next year. However, advance deliveries are expected in the Dallas-Fort Worth area that should help Walmart and Canoo finalize the details in their collaboration.

Canoo touted several elements of its LDV, including easy handling, ample cargo space, modular design, and sustainability. For Walmart, the move helps it in its goals to reach zero-emissions status by 2040.

EV companies are competing fiercely for business, so getting a big-name buyer like Walmart is a point in Canoo's favor. Yet even with today's gain, the stock is still down sharply from where it traded during the past couple of years, so investors want to see even more wins before they'll have full confidence in Canoo's future.