Paramount Global’s stock dropped over 5% after Edgar Bronfman Jr. decided not to pursue a takeover, allowing Skydance to proceed with its $8 billion acquisition deal reached in July. Hain Celestial Group’s shares surged more than 23% after the company reported higher-than-expected earnings for the fourth quarter. JD.com plans to repurchase $5 billion worth of shares between September 2024 and August 2027. Hershey’s stock fell 2% after being downgraded by Citi. Trip.com’s U.S. shares rose 9% after second-quarter revenue exceeded expectations. Eli Lilly’s stock rose close to 1% following the launch of a cheaper version of its weight loss drug. Heico’s stock dropped nearly 1% after third fiscal quarter revenue was slightly below expectations. Cava Group’s stock fell 5% after CEO Brett Schulman and other corporate insiders sold some of their shares. Nvidia’s stock rose 1.2% in anticipation of earnings. Ferrari’s shares gained 2% after an analyst raised the price target to $520. Netflix’s stock rose 2.5% after an analyst predicted more upside. Insulet’s stock jumped almost 8% after FDA clearance for a new product. Hanesbrands’ stock climbed 7% after a positive mention from UBS. Energizer Holdings’ stock rallied nearly 7% after an upgrade from Truist.
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