Check out the companies making the biggest moves in Permarket Trading: Pepsico – The snack and drink giant rose nearly 6% after the Wall Street Journal cited sources and reported that activist Elliott Management had acquired $4 billion in stake in the company. 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.
