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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: This is the closing bell on this stock mover's report.

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Speaker 2: The company's making moves at the close of US trading

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Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostik, and Scarlet Fool.

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Speaker 3: All right, let's get to some of the individual gainers.

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Speaker 3: That's a lot of red on that screen, but there

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Speaker 3: are definitely some howperformers in a big way, So let's

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Speaker 3: get to it. At PepsiCo at its highs today, folks at

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Speaker 3: more than six percent, finishing the day with a gain

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Speaker 3: of about one percent, a top gainer in the Nasdaq

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Speaker 3: one hundred at one point. Shares rising after Elliott Investment

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Speaker 3: Management confirmed it took a four billion dollar stake in

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Speaker 3: the company, making it one of the largest investors in PepsiCo.

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Speaker 3: Elliott outlining its plans for the company, including potentially restructuring

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Speaker 3: its beverage unit, reviewing its snack offerings. Company has really

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Speaker 3: struggled in the face of competitive pressures and really changing

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Speaker 3: consumer I guess taste if you will, so were there,

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Speaker 3: we'll see. We're keeping an eye on that, but investors

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Speaker 3: are hopeful about some of the changes to come. I

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Speaker 3: want to get to a name that was actually among

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Speaker 3: the biggest gainers on both the Nasdaq one hundred and

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Speaker 3: the S and P five hundred. We're talking about Biogen,

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Speaker 3: ticker is bib stock, up five point six percent in

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Speaker 3: today's session, and this had to do with the drugmaker

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Speaker 3: winning FDA approval for its self injected form of its

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Speaker 3: Alzheimer's therapy, and analysts see that approval aiding the launch

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Speaker 3: of the drug by improving convenience for patients. So that

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Speaker 3: was definitely some outperformance there. And then Frontier Group twenty

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Speaker 3: three percent at its highs intra day, finishing with a

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Speaker 3: gain of about fourteen percent. Deutsche Bank coming out raising

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Speaker 3: the recommendation on the company to buy from hold, seeing

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Speaker 3: the firm is best position to benefit from rival Spirits bankruptcy.

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Speaker 3: You might remember last week Bloomberg out reporting on how

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Speaker 3: Spirit had engaged Frontier and high level talks about the

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Speaker 3: carrier's ongoing efforts to chart a path forward less than

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Speaker 3: six months after from bankruptcy. So Frontier definitely to an

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Speaker 3: outperformer in today's session.

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Speaker 1: Okay, well, let's look at some underperformance today. I want

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Speaker 1: to start with Nvidia, down about six percent over the

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Speaker 1: last four days down two percent today. The company's earning

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Speaker 1: showed restrictions on sales to China, eating into a revenue

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Speaker 1: and uncertainty about when those sales could resume. That was

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Speaker 1: to the tune of about four billion dollars. Now, despite

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Speaker 1: the recent drop, the stock is still up about eighty

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Speaker 1: percent off that April low. Analysts see upside of more

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Speaker 1: than twenty five percent from current levels with grosser trends.

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Speaker 1: Keeping valuation in check, we should know the old chip

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Speaker 1: sector under pressure today. Reminder, we learned early today that TSMC.

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Speaker 1: Regarding TSMC, the US has revoked TSMC's authorization to freely

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Speaker 1: ship a central gear to its main Chinese chip making base,

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Speaker 1: potentially curtailing its production capabilities. Also Kraft High, speaking of

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Speaker 1: like what's old is new again, the company plans to

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Speaker 1: split into two separate companies, one selling Heintz Catchup, the

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Speaker 1: other iconic condiments in the other, including slower growing grocery products,

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Speaker 1: So the oscar Meyer hot dogs going one and catch

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Speaker 1: Up and other iconic condiments go in the other. The

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Speaker 1: goal is split us to give the companies top performing

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Speaker 1: sauces and spreads more room to run while siphoning off

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Speaker 1: lagging grocery Staples in a new entity expected to generate

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Speaker 1: reliable cash flow. Shares today down by about seven percent,

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Speaker 1: and finally, Constellation Brands falling six point six percent. Today

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Speaker 1: is after the company cut its fiscally year twenty twenty

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Speaker 1: six guide. It's incited weaken super demand, which will alert

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Speaker 1: inventory rebalancing at this distributor level. I guess, Katie, people

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Speaker 1: aren't drinking like they used to.

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Speaker 2: us throughout the day for the latest roundup of companies

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