Nestlé (NESN.SW) plans to cut costs by at least $2.8 billion by 2027. The company said it will boost its marketing efforts and spin off its premium drinks and water brands starting in 2025.

Meanwhile, Nippon Steel (NPSCY, NISTF) is facing pressure after the US Department of Commerce raised tariffs on the company for a review that found it sold hot-rolled steel below fair market value.

Watch the video for a closer look at what’s driving these stock moves.

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This post was written by Cindy Mizaku.