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CVS Rises, PepsiCo Drops, Ares Jumps on News of Joining S&P 500
Description
On this episode of Stock Movers:
- CVS (CVS) shares rise after the company raised its full-year profit forecast and said earnings would rise in 2026. It's a sign of hope as it navigates a turbulent retail environment and government scrutiny across the health care industry.
- PepsiCo (PEP) shares drop after the company reached an agreement with activist investor Elliott Investment Management to reduce its US product lineup and lower prices, while paring its workforce. The company projected organic revenue growth of 2% to 4% in fiscal 2026 and plans to use savings from increased productivity to lower prices in its key brands.
- Ares (ARES) shares jump after news that S&P Dow Jones Indices said the stock will replace Kellanova in the S&P 500, effective Dec. 11.
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