Check out the companies making the biggest moves in the preme market trading: PepsiCo – After activist investor Elliott Management took $4 billion in stake in the company, the snack and drink giant rose nearly 6%, touting the “unusual” and “historic” opportunity of turnarounds at the iconic soft drink and snack company. The investment by Elliott, founded by Paul Singer, was first reported by the Wall Street Journal. Currently one of Pepsi’s five largest active investors, Elliott sent a presentation and letter to Pepsi’s board on Tuesday to detail the agenda to regain business momentum. Kraft Heinz – The company confirmed previous reports that it will be split into two publicly traded companies through a tax-free spinoff. The names of the two new companies will be decided at a later date. One unit currently being run by Global Taste Elevation includes Kraft shelves stable products such as Heinz and Kraft Mac & Cheese. The other is “North American grocery” includes brands such as Oscar Mayer and Lantable. The stocks had little change. Constellation Brands – Stocks fell 8.3% after brewers cut their year-round guidance. Currently, revenue is expected to be between $10.77 and $11.07 per share, down from previous guidance at $12.07 and $12.37 per share. Signet Jewellers – Jewelers scored 3.8%, surpassing their second quarter expectations. Signet won $1.61 per share with revenue of $1.54 billion, excluding certain items. Analysts voted by FactSet were expecting a profit of $1.24 per share against $1.5 billion in revenue. The company also increased its full-year revenue guidance. NIO – The US-registered stock of the Chinese electric vehicle manufacturer rose 1.5%. Nio delivered 31,305 in August. This is a new record. However, the company posted disappointing adjusted revenue and revenue in the second quarter. Air Leases – Shares rose more than 6% after the aircraft leasing company reached a merger agreement with Apollo, Brookfield, SMBC Air Capital and Sumitomo. The contract is expected to close in the first half of next year, valueating the company at around $28.2 billion, including debt. Cytokinetics – The late-stage biopharmaceutical company rose 27% in a clinical trial of Aficamten, a cardiac drug clinical trial, after showing meaningful improvements over the standard of care, metoprolol, in patients with symptomatic obstructive hypertrophic cardiomyopathy. LAM Research – Inventory fell 3.7% after downgrade at Morgan Stanley. The bank said it does not expect LAM research to sustain growth in 2026. Corning – Glass makers won 1.3% after UBS upgraded inventory and bought from neutral and cited continuous artificial intelligence-driven growth. Biogen – Biopharma stock added 1.6% after Biogen and Eisai said the Food and Drug Administration has approved Leqembi, an injectable version of Alzheimer’s drug. Alibaba – 1% registered stake in the US, a Hong Kong-based technology giant, has been added. Last week, Alibaba reported revenue, and CNBC reported that it cited people familiar with the company being developed a new artificial intelligence chip. NEWMONT – Gold miners scored 2% early in Tuesday’s session after precious metals hit a record high of $3,508.50. —CNBC’s Fred Imbert and Alex Harring contributed the report.
The largest pre-market movement stock: KHC, PEP, BIIB, SIG
