😞 Buffet 'disappointed' in Kraft Heinz

Good evening. September is usually a tough month for stocks, and it’s living up to that reputation. Investors already locked in profits, especially after a federal appeals court ruled that most of Trump’s global tariffs are illegal. Could this finally be the September that ends in the green?

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Market data: today’s market close

WINNERS

⬆︎32.83% United Therapeutics

'Overwhelmingly positive' trial win. United Therapeutics, best known for its lung disease drugs, just scored a big clinical win that could change the treatment landscape for IPF (a condition affecting more than 100,000 people in the U.S.). Its inhaled therapy Tyvaso met the main goal in a late-stage trial, helping patients breathe better and slowing disease progression versus placebo. [Read more]

⬆︎14.49% Frontier Airlines

Nothing better than your rival fading out of the picture. After Spirit Airlines filed for Chapter 11 bankruptcy (the second time in less than a year), Deutsche Bank called Frontier the best-positioned airline to scoop up the missing market share. Frontier has already launched 20 new routes with fares starting at $29. [Read more]

⬆︎1.10% PepsiCo

Activist investor Elliott Management just took a $4 billion stake in PepsiCo, calling it a “rare” chance to turn things around. The snack-and-soda giant has fallen behind Coca-Cola, and Elliott thinks streamlining the business (possibly letting go weaker brands) could be the fix. The big question now: can Pepsi get its fizz back? [Read more]

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Market data: today’s market close

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LOSERS

⬇︎0.84% Nestlé

What happens when you mix business with pleasure? The Swiss food titan has sacked CEO Laurent Freixe after an internal investigation found he violated company conduct rules by having a relationship with a subordinate. [Read more]

⬇︎6.60% Constellation Brands

The brewer behind Modelo and Corona cut its full-year outlook, as Hispanic consumers (who account for about half its beer sales) have been pulling back. In its earnings report a month ago, the company kept guidance intact, but now it admits the hit is too big to ignore. [Read more]

⬇︎6.97% Kraft Heinz

Kraft Heinz is splitting in two: one company will handle faster-growing brands like sauces and shelf-stable meals, while the other takes on slower grocery staples. Warren Buffett admitted the merger he helped engineer a decade ago hasn’t worked out as consumers turned away from processed food. His Berkshire Hathaway still owns 27.5% of the company, but he says he’s “disappointed” by the breakup. [Read more]

⬇︎10.81% Lucid

The luxury EV maker is taking heat from investors. Its 1-for-10 reverse stock split went into effect, and shares are at a new all-time low on a split-adjusted basis. The company had tried to soften the blow back in July by pairing the split announcement with news of a $300 million investment from Uber tied to a robotaxi partnership. [Read more]

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Market data: today’s market close

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