Here’s a look at some of the companies catching our eye in midday trading: Paramount Global — The media conglomerate’s shares fell more than 5% after Edgar Bronfman Jr. walked away from a bid, clearing the way for Skydance to pursue the roughly $8 billion acquisition deal it agreed to in July. The Skydance deal is expected to close in the first half of 2025 and included a “go-shop” window during which Paramount could seek other buyers. Hain Celestial Group — Shares surged more than 23% after the food company behind Terra Chips and Garden Veggie Straws reported better-than-expected fourth-quarter earnings. Hain Celestial Group reported adjusted earnings of 8 cents per share, well above the FactSet consensus estimate, while revenue of $418.8 million was just below the $419.4 million expected. JD.com — Shares of the China-based e-commerce company rose about 3%. The company said it plans to buy back $5 billion worth of its own shares between September 2024 and August 2027. Hershey — Shares fell 2% after Citi downgraded the chocolate maker’s stock to sell from neutral. The company said future profits could be hit by lower volumes and rising cocoa inflation. Trip.com — U.S. shares of the China-based travel company jumped 9% after second-quarter revenue beat expectations. Trip.com’s revenue of 12.77 billion yuan was slightly above the 12.76 billion yuan expected by analysts surveyed by FactSet. The company also said package tour revenue rose 42% year over year. Eli Lilly — The pharmaceutical company’s shares rose nearly 1% following the launch of a cheaper version of its weight-loss drug. Eli Lilly said Tuesday that the list price of its new single-dose vials of Zepbound has been cut by about 50%, targeting patients whose insurance doesn’t cover the weight-loss injection. Heico — Aerospace and defense company Heico’s shares fell nearly 1% after it reported third-quarter revenue of $992.2 million, below the consensus estimate of $995.3 million. But earnings per share of 97 cents for the period beat Wall Street’s expectations of 92 cents. Kava Group — Fast-casual restaurant chain Kava saw its shares fall 5% after CEO Brett Schulman and other company officials sold some shares, according to a filing with the Securities and Exchange Commission. Nvidia — The artificial intelligence darling rose 1.2% as investors prepared for the company’s earnings release on Wednesday. Truist raised his price target ahead of the earnings release, noting that the stock is priced well and there’s still reason to expect “rapid growth.” Ferrari — Ferrari shares rose 2% after Morgan Stanley analyst Adam Jonas reiterated an overweight rating and raised his price target to $520, the highest on the Street. He said the stock fits into the trend of “hyper-premiumization” of personal luxury brands driven by the wealthy. Netflix — The streaming stock surged 2.5% after Evercore ISI said it has more upside than expected. The company, which also reiterated an outperform rating, said the company is in a historically strong position in terms of competition, financials and fundamentals. Insulet — Shares of the insulin maker rose about 8% after the U.S. Food and Drug Administration approved the use of its Omnipod 5 automated dosing system for adults with type 2 diabetes. Hanesbrands — Shares of the clothing maker rose 7% after UBS called it a “stock to watch” for 2025. Still, the firm reiterated its neutral rating on the stock. Energizer Holdings — The battery maker’s shares rose about 7% after Truist upgraded its rating to buy from hold. Truist said the company’s shares are trading at a “significant discount” to consumer staples peers. — CNBC’s Yun Lee, Pia Shin, Jesse Pound, Ha-Kyung Kim, Sarah Min, Samantha Subin and Sean Conlon contributed to this report.
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