Stocks making the biggest moves midday: Paramount Global, Tesla, MGM Resorts and more

by | Jul 3, 2024 | Financial

Check out the companies making headlines in midday trading: Paramount Global — The media and entertainment stock popped nearly 7% on news that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. Paramount Global’s special committee is reviewing and voting on the agreement , CNBC reported, citing a person familiar with the matter. Tesla — The electric vehicle company jumped another 6.5%, bringing its week-to-date gains to 24.5%. The rally came after Tesla posted better-than-expected deliveries in the second quarter . Wedbush analyst Dan Ives hiked his 12-month price target on the Elon Musk-led company to $300 from $275 previously. The new forecast implies a 30% gain from Tuesday’s close. MGM Resorts International — Shares moved 2.2% higher after BTIG initiated coverage of the casino operator with a buy rating and 52% price target, which implies nearly 23% upside from Tuesday’s close. The firm said MGM is diversifying in a healthy way, which should improve growth. Constellation Brands — Shares of the beer and wine company fell 3.3% after its first-quarter sales came in just below expectations. Though the company posted better-than-expected earnings of $3.57 in adjusted earnings per share compared to the $3.46 analysts surveyed by LSEG were expecting, revenue for the quarter came in at $2.66 billion, while analysts were …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Paramount Global — The media and entertainment stock popped nearly 7% on news that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. Paramount Global’s special committee is reviewing and voting on the agreement , CNBC reported, citing a person familiar with the matter. Tesla — The electric vehicle company jumped another 6.5%, bringing its week-to-date gains to 24.5%. The rally came after Tesla posted better-than-expected deliveries in the second quarter . Wedbush analyst Dan Ives hiked his 12-month price target on the Elon Musk-led company to $300 from $275 previously. The new forecast implies a 30% gain from Tuesday’s close. MGM Resorts International — Shares moved 2.2% higher after BTIG initiated coverage of the casino operator with a buy rating and 52% price target, which implies nearly 23% upside from Tuesday’s close. The firm said MGM is diversifying in a healthy way, which should improve growth. Constellation Brands — Shares of the beer and wine company fell 3.3% after its first-quarter sales came in just below expectations. Though the company posted better-than-expected earnings of $3.57 in adjusted earnings per share compared to the $3.46 analysts surveyed by LSEG were expecting, revenue for the quarter came in at $2.66 billion, while analysts were …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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