Take a look at the companies making headlines in afternoon trading: Paramount Global – Shares of the media conglomerate fell 7.2% after Edgar Bronfman Jr. had abandoned its pursuit of a takeover, paving the way for Skydance to follow through on the approximately $8 billion takeover deal it had reached. in July. The Skydance deal, expected to close in the first half of 2025, included a “go shop” window allowing Paramount to seek other buyers. Hain Celestial Group – Shares rose 18.9% after the food company behind Terra chips and Garden Veggie Straws reported fourth-quarter earnings that beat expectations. Hain Celestial Group posted adjusted earnings of 13 cents, easily beating the FactSet consensus estimate of earnings of 8 cents per share. On the other hand, revenue of $418.8 million came in slightly lower than the expected $419.4 million. JD.com – Shares of the China-based e-commerce stock rose 2.3%. The company said it plans to buy back $5 billion of shares between September 2024 and August 2027. Hershey – Shares of the chocolate maker fell 2.7% after Citi downgraded the stock to sell from neutral. The company said future profits could be hit by volume weakness and higher cocoa inflation. Trip.com – The China-based travel company’s U.S. shares rose 8.6% after second-quarter revenue exceeded expectations. Trip.com posted revenue of 12.77 billion yuan, slightly ahead of the 12.76 billion yuan forecast from analysts polled by FactSet. Elsewhere, the company said package holiday sales rose 42% compared to a year ago. Eli Lilly – Shares of the drugmaker rose 0.4% after launching a cheaper version of its weight-loss drug. Eli Lilly announced Tuesday that the new single-dose vials of Zepbound would have a list price about 50% lower and are aimed at patients whose insurance does not cover weight loss injections. Heico – The aerospace and defense company added 0.6%, jumping after fiscal third quarter revenue came in at $992.2 million, below the consensus forecast of $995.3 million. However, the company earned 97 cents per share during the period, above Wall Street’s estimate of 92 cents. Cava Group – The fast-casual restaurant chain lost 6.1% after CEO Brett Schulman and other business insiders sold some of their shares, according to filings with the U.S. Securities and Exchange Commission. Nvidia – The darling of artificial intelligence rose 1.5% as investors brace for earnings expected Wednesday. Truist raised its price target ahead of the report, noting that there is still reason to expect “rapid growth” after the stock’s strong performance. Ferrari – Ferrari shares rose 2% after Morgan Stanley analyst Adam Jonas reiterated his overweight rating and raised his price target to a street high of $520. The stock fits a trend toward “ultra-premiumization” among personal luxury goods brands, driven by wealthy individuals, he said. Netflix – Streaming shares rose 1.1% after Evercore ISI said it sees more upside potential than previously expected. The company, which also reiterated its outperform rating, said the company is in a historically strong position when it comes to competition, financials and fundamentals. Insulet – The insulin maker rose 6.6% after the US Food and Drug Administration approved the use of the Omnipod 5 automated delivery system for adults with type 2 diabetes. Hanesbrands – The clothing manufacturer climbed 5.7% after UBS called it a “stock to watch” for 2025. Still, the company reiterated its neutral rating on shares. Energizer Holdings – The battery maker rose 6.6% after a Truist upgrade to buy off hold. Truist said the stock is trading at a “meaningful discount” to comparable consumer staples. – CNBC’s Yun Li, Pia Singh, Jesse Pound, Hakyung Kim, Sarah Min, Samantha Subin and Sean Conlon contributed reporting.
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