Closing Bell: PepsiCo Jumps, Kraft Heinz Slides Amid Split, Nvidia Falls | Stock Movers
September 2, 2025
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4:02Now PlayingClosing Bell: PepsiCo Jumps, Kraft Heinz Slides Amid Split, Nvidia Falls | Stock Movers
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as posted by the channelOn this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Eric Balchunas, Katie Griefeld, Carol Massar and Tim Stenovec
Activist investor Elliott Investment Management has built a stake of about $4 billion in PepsiCo (PEP) with plans to call for changes at the struggling beverage maker. The position makes it one of PepsiCo’s largest investors, the activist said Tuesday in a letter to the company board of directors. PepsiCo said will review Elliott’s perspectives in the context of its growth strategy, which it said is positioned to accelerate growth and deliver long-term value for shareholders. The soda-and-snacks maker has struggled in the face of competitive pressure and changing consumer tastes, with its market value plunging more than 20% from a peak in May 2023.
Kraft Heinz (KHC) plans to split into two separate companies, one selling Heinz ketchup and other iconic condiments, and the other including slower-growing grocery products. The goal of the split is to give the company's top-performing sauces and spreads more room to run, while allocating reliable cash flow to the slower-growing grocery staples. The separation will occur through a tax-free spinoff, with the two companies' names to be determined later, and is expected to close by the second half of 2026.
Nvidia Corp. (NVDA) closed below its 50-day moving average of $171.06 for the first time since May as investors rotate out of the leading maker of artificial intelligence chips. The stock fell to $170.74 on Tuesday, a fourth straight negative session, with the next level of support seen at $160, followed by $145. Despite the recent drop, the stock remains up more than 80% off an April low and analysts see upside of more than 20% from current levels.
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Closing Bell: PepsiCo Jumps, Kraft Heinz Slides Amid Split, Nvidia Falls
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