Before the bell rings, see which firms are in the news.
Edgar Bronfman Jr.’s withdrawal of his bid for Paramount Global caused the media conglomerate’s stock to fall by about 5%. This makes it possible for Skydance Media to acquire control of Shari Redstone’s media empire.
Cava Group: Following the disclosure in papers by multiple corporate insiders and a significant shareholder that they were selling off some of their stakes, the restaurant’s stock dropped by more than 8%.
JD.com Following the business’s announcement of a $5 billion buyback program to be implemented between September 2024 and August 2027, shares of the Chinese e-commerce company increased by almost 3%.
The Hershey Company Following a Citi downgrade to sell from neutral, the chocolate manufacturer saw a 1.7% decline. Difficulties with volume and inflation in cocoa can affect profits.
Vacation.com — Due to better-than-expected second-quarter earnings, the China-based tourism company’s shares increased by over 9%. Revenue of 12.77 billion yuan on adjusted EBITDA of 4.44 billion was recorded by the company.
Apple—After the business revealed that Kevan Parekh will take over as chief financial officer from Luca Maestri on January 1, shares of the iPhone manufacturer fell 0.3%.
Eli Lilly — In an attempt to increase accessibility, the pharmaceutical company Zepbound’s new, less expensive version was produced, and as a result, shares fell 1%.
Heico— Due to inconsistent fiscal third-quarter results, the aerospace and defence shares fell by roughly 0.6%. The aircraft component manufacturer exceeded analysts’ earnings projections but missed Wall Street’s revenue targets.
Source (CNBC)
