** Mondelez International MDLZ.O topped Wall St estimates for Q2 revenue and profit, driven by strong global demand for its premium chocolates and biscuits, especially in Europe

** Shares down around 2% at $68.34 with low volumes in pre-market trading

STICKY SITUATIONS AND SWEET SPOTS

** Bernstein ("outperform," PT: $88) says 2026 outlook appears promising, on expectations of easing cocoa costs, strong emerging market performance, and resilient chocolate demand outside the U.S. despite potential GLP-1 drug-related drags on consumer demand

** BofA ("buy," PT: $75) says "we view MDLZ's quarter as a standout relative to both multi-national & packaged food peers given strength in organic sales & execution"

** Piper Sandler ("neutral," PT: $67) says cocoa is the "key building block for 2026 EPS growth," citing strong pricing power in Europe, while flagging risks from potential tariff changes and macroeconomic uncertainty

** TD Cowen ("buy," PT: $75) says co's 2026 outlook reflects uncertainty around cocoa costs and volume recovery, keeping the stock range-bound for now

(Reporting by Rashika Singh in Bengaluru)

((rashika.singh@thomsonreuters.com))