Before the bell, see which firms are in the news.
Paramount Worldwide — News that Skydance Media has signed a preliminary agreement to acquire National Amusements, the company’s controlling shareholder, sent Paramount Global’s shares soaring more than 12%.
Tesla: One day after revealing better-than-expected second-quarter delivery figures, the maker of electric vehicles saw an almost 3% increase in price. During Tuesday’s trading, shares increased by 10%.
Constellation Brands: Following a better-than-expected earnings announcement, the shares of beer and wine increased by more than 2%. For the first quarter of its fiscal year, Constellation reported adjusted earnings per share of $3.57, compared to LSEG’s survey of analysts’ expectations, which was $3.46 per share.
Southwest Airlines: Following its announcement that it had implemented a shareholder rights plan, the airline’s shares saw a little decline. In reaction to Elliott Investment Management, an activist investor, gaining an 11% ownership in the business, Southwest took this action.
Eli Lilly — Following the FDA’s approval of Eli Lilly’s Alzheimer’s medication, donanemab, the company’s stock saw a minor increase. Adults with early symptoms can use the medication, which will be marketed under the brand name Kisunla.
International MGM Resorts — Following BTIG’s launch, shares increased by 0.9% a “attractive fundamental story” and a buy rating for MGM Resorts International. Over 20% gain from Tuesday’s finish is implied by the $52 price goal.
Source (CNBC)
