US stock market anomaly | PepsiCo (PEP.US) rises over 2%, with reports of Elliott holding a $4 billion stake and urging the company to improve performance.

According to the Wise Finance APP, on Tuesday, PepsiCo (PEP.US) rose 6% at one point during the trading day and was up over 2% as of the time of writing, at $152.08. It was reported that Elliott Management revealed its $4 billion stake in PepsiCo. In a letter to PepsiCo, Elliott wrote, "PepsiCo is at a crucial turning point. The company has the opportunity - and the obligation - to improve financial performance and reclaim its industry-leading position."