Stock Movers

On this episode of Stock Movers:
- Macy's (M) shares are getting a big bump from earnings. It raised its annual outlook and reported its best comparable sales growth in 12 quarters. The retailer now expects net sales of as much as $21.45 billion for the fiscal year and lifted its adjusted diluted EPS guidance. Despite the improved outlook, Macy's warned of a more cautious consumer in the second half of the year and quarterly revenue has fallen on an annual basis for 13 quarters in a row.
- Dollar Tree (DLTR) erased earlier gains after it raised its outlook for 2025 as more consumers look for lower-priced goods. Dollar Tree, now sees net sales in a range of $19.3 billion to $19.5 billion in the current fiscal year, above the previous guidance of as much as $19.1 billion. The retailer’s stock rose about 1% in premarket trading on Wednesday. The company’s shares have climbed more than 48% this year through Tuesday’s close.
- Google (GOOG) shares are higher this morning after a court win yesterday. A US judge ruled against the government's proposals to break up Google, including a forced sale of its Chrome browser, in the biggest antitrust case in three decades. Google will have to make some concessions, including sharing online search data with rivals and ending exclusive contracts for distribution, according to the judge's ruling. The ruling is seen as a setback for the US government in its bid to curb the power of Big Tech companies, with Google's shares jumping and the company praising the decision for recognizing the impact of AI on the search industry.
- Apple (AAPL) shares are higher this morning even though they lost yet another top AI talent to Meta. However, it is gaining on tailwind from a federal judge ruling on Tuesday that Google isn’t required to sell its Chrome web browser. After the ruling, Bank of America analyst Wamsi Mohan raised the firm's price target on Apple (AAPL) to $260 from $250 and keeps a Buy rating on the shares.

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On this episode of Stock Movers:
- Babcock is up on press reports that the UK is in advanced talks to build warships for Denmark and Sweden.
- Adidas gets an upgrade to buy from hold at Jefferies following its “brutal” de-rating, while JPMorgan places the German company on a positive catalyst watch
- M&G falls by as much as 3.8%, the most since April, as the UK asset manager’s first-half adjusted operating profit misses analyst forecasts.

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On this edition of Stock Movers:

- Shares of Google parent Alphabet (GOOG) jumped late Tuesday after a federal judge said Google doesn’t have to sell its popular Chrome web browser in the Justice Department’s landmark antitrust case against the search engine. The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company had an illegal monopoly in the search market. Judge Amit Mehta did bar Google from entering into exclusive contracts for internet search. The finding follows Mehta’s ruling last year that Google illegally monopolized the markets for online search and search advertisements. Mehta held a three-week hearing in April to determine a fix. The order is one of the most monumental court decisions affecting the tech sector in more than a quarter century, and could offer a blueprint for other judges who may end up weighing similar choices in cases against Meta Platforms Inc., Amazon.com Inc. and Apple Inc. In another win for Google, the judge didn’t bar the company from making payments to third parties for default browser placement.

- Apple (AAPL) shares also gained in late trading as a result of the federal judges ruling that Google isn’t required to sell its Chrome web browser. Though Judge Amit Mehta ruled in an antitrust case that Google can’t enter exclusive contracts for internet search, deals that make the search provider a default option in internet browsers are still allowed. “Google is permitted to pay browser developers, like Apple,” he said in the decision. However, the partner company must promote other search engines, offer a different option in various operating systems or in privacy mode, and are allowed to make changes to the default search settings annually, Mehta wrote. “Cutting off payments from Google almost certainly will impose substantial — in some cases, crippling — downstream harms to distribution partners, related markets, and consumers, which counsels against a broad payment ban,” he said. Apple currently favors the Google search engine by giving it the best placement in Safari search bar on computer and mobile devices. Users can opt to switch to Microsoft Corp.’s Bing, DuckDuckGo and other options. Apple also changed its iOS software two years ago to allow the use of a different search engine in private mode.

- Nvidia (NVDA) closed below a key technical level for the first time since May as investors continue to rotate out of the leading maker of artificial intelligence chips. The stock fell 2% to $170.74 on Tuesday, a fourth straight negative session that took it below its 50-day moving average of $171.06. Breaking under this closely watched level is seen as a negative sign of near-term momentum trends.

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On this episode of Stock Movers:

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• 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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On this edition of Stock Movers:

- PepsiCo (PEP) shares jumped today after activist investor Elliott Investment Management has built a stake of about $4 billion in PepsiCo Inc., 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. In a presentation released Tuesday, Elliott outlined its plans for PepsiCo, which include potentially restructuring its beverage unit and reviewing its snacks offerings.

- Constellation Brands (STZ) shares slumped today after the alcohol beverage company cut its fiscal 2026 guidance, citing weak consumer demand. Peers including Molson Coors, Anheuser-Busch ADRs, Boston Beer and Brown-Forman are also trading lower.

- Kraft Heinz (KHC) shares are sliding today after news broke that the company plans to split into two separate companies, undoing a mega-deal ushered in a decade ago that turned the maker of Kraft Mac & Cheese into one of the largest packaged food sellers in the world. Following the breakup, one company will sell Heinz ketchup, other iconic condiments and boxed meals that comprise its fastest-growing global brands with $15.4 billion in annual sales. The other firm will include slower-growing grocery products, such as Oscar Mayer hot dogs and Lunchables, which currently generate revenue of $10.4 billion.

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On this episode of Stock Movers:
- TSMC (ADRs) drop after the US has revoked Taiwan Semiconductor Manufacturing Co.'s authorization to freely ship essential gear to its main Chinese chipmaking base, potentially curtailing its production capabilities at that older-generation facility.
- PepsiCo (PEP) shares rise after news that Activist investor Elliott Investment Management has built a stake of about $4 billion in PepsiCo Inc., with plans to call for changes at the struggling beverage maker.
- Caterpillar (CAT) shares fall as Wall Street analysts continue to weigh in on the construction and mining equipment manufacturer’s expectations for tariffs to have an even greater impact on its business.

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On this episode of Stock Movers:
- Constellation Brands (STZ) shares slide after the alcohol beverage company cut its fiscal 2026 guidance, citing weak consumer demand, which will hurt inventory rebalancing at the distributor level.
- Elf Beauty (ELF) shares drop after Deutsche Bank downgraded the cosmetics company to hold from buy.
- Frontier Group (ULCC) shares rise after Deutsche Bank raised the recommendation on low-cost carrier to buy from hold saying the firm is best-positioned to benefit from rival Spirit’s bankruptcy.

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On this episode of Stock Movers:
- Kraft Heinz (KHC) shares are down after the company said it will separate into two publicly traded companies in a tax-free spinoff, aiming to simplify operations and boost shareholder value. The transaction is expected to close in the second half of 2026.
- PepsiCo (PEP) are among the most active premarket shares and are rising after the Wall Street Journal reported Elliott Investment Management has taken a significant stake to become the consumer giant's top five active investors excluding index funds.
- Klarna's shares are set to move as its IPO approaches. Klarna and some of its shareholders are seeking to raise as much as $1.27 billion as the financial-technology company revives a New York initial public offering. The company and some of its backers are offering 34.3 million shares for $35 to $37 apiece, with the IPO expected to price Sept. 9. Klarna plans to sell 5.6 million shares in the offering, and selling holders are set to offer 28.8 million shares, with the company aiming to list on the New York Stock Exchange under the symbol KLAR.

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On this episode of Stock Movers:
- Kraft Heinz (KHC) shares are moving after the company said it will separate into two publicly traded companies in a tax-free spinoff, aiming to simplify operations and boost shareholder value. The transaction is expected to close in the second half of 2026.
- Nvidia (NVDA) shares are down in the premarket. While there's no clear catalyst for the dip, fears over AI development in China and geopolitical and trade uncertainty could all weigh on the stock.
- Air Lease Corp (AL) is moving on news the aviation finance firm built by industry pioneer Steven Udvar-Hazy, agreed to a $7.4 billion sale to a group led by Sumitomo Corp. and rival SMBC Aviation Capital. SShareholders of Los Angeles-based Air Lease will receive $65 a share in cash from the buyers, backed by entities affiliated with Apollo managed funds and Brookfield, according to a statement Tuesday.
- Frontier Group (ULCC) jumped in the premarket after Deutsche Bank raised the recommendation on low-cost carrier to buy from hold saying the firm is best-positioned to benefit from rival Spirit’s bankruptcy.
- Tesla (TSLA) shares are also lower as world leaders in Asia meet in Beijing amid concern over US tariffs. President Vladimir Putin appears to have secured a diplomatic win with a massive pipeline deal that would tie Russia and China together for decades and could redefine the global gas trade.

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On this episode of Stock Movers:
- Nestlé dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world’s biggest food company that’s known for its conservative corporate culture. Nestlé shares fell as much as 3.6% in early Zurich trading on Tuesday, and they’re down 19% over the past 12 months.
- The profit expectations for British American Tobacco’s new category businesses are “seriously overblown,” RBC writes in note as downgrades to underperform from sector perform. The stock declines as much as 2.8%.
- HSBC analyst Erwan Rambourg raised the recommendation on LVMH Moet Hennessy Louis Vuitton SE to buy from hold. LVMH shares rose as much as 3%.

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