Stocks making the biggest moves premarket: Paramount, Tesla, Constellation Brands and more

by | Jul 3, 2024 | Financial

Check out the companies making headlines before the bell. Paramount Global — Shares of Paramount Global surged more than 12% on news that Skydance Media has reached a preliminary deal to buy National Amusements, the company’s controlling shareholder. The New York Times and Wall Street Journal first reported news of the agreement. Tesla — The electric vehicle maker rose nearly 3% , a day after posting stronger-than-expected delivery numbers for the second quarter. Shares popped 10% during Tuesday’s session. Constellation Brands — The beer and wine stock rose more than 2% after a better-than-expected earnings report. Constellation reported $3.57 in adjusted earnings per share for its fiscal first quarter, while analysts surveyed by LSEG were expecting $3.46 per share. Sales of $2.66 billion were up 6% year over year, though just below expectations of $2.67 billion. Southwest Airlines — Shares were fractionally lower after the airline carrier announced it had adopted a shareholder rights plan. Southwest did so in response to activist investor Elliott Investment Management accumulating an 11% stake in the company. The new plan, which will be valid for a year, will be triggered if any entity holds at least 12.5% of the airline’s shares. Eli Lilly — Eli Lilly shares moved slightly higher after the Food and Drug Administration approved the drug maker’s Alzheimer’s treatment known a …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines before the bell. Paramount Global — Shares of Paramount Global surged more than 12% on news that Skydance Media has reached a preliminary deal to buy National Amusements, the company’s controlling shareholder. The New York Times and Wall Street Journal first reported news of the agreement. Tesla — The electric vehicle maker rose nearly 3% , a day after posting stronger-than-expected delivery numbers for the second quarter. Shares popped 10% during Tuesday’s session. Constellation Brands — The beer and wine stock rose more than 2% after a better-than-expected earnings report. Constellation reported $3.57 in adjusted earnings per share for its fiscal first quarter, while analysts surveyed by LSEG were expecting $3.46 per share. Sales of $2.66 billion were up 6% year over year, though just below expectations of $2.67 billion. Southwest Airlines — Shares were fractionally lower after the airline carrier announced it had adopted a shareholder rights plan. Southwest did so in response to activist investor Elliott Investment Management accumulating an 11% stake in the company. The new plan, which will be valid for a year, will be triggered if any entity holds at least 12.5% of the airline’s shares. Eli Lilly — Eli Lilly shares moved slightly higher after the Food and Drug Administration approved the drug maker’s Alzheimer’s treatment known a …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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