Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making waves in the finance world. Today, we will be diving into the premarket trading moves of some key players in the market.
First up, Eli Lilly. The pharma company’s shares saw a 1.7% increase after a successful late-stage trial of their weight loss drug tirzepatide. This drug showed promising results in reducing the risk of obese or overweight adults developing Type 2 diabetes by a staggering 94%.
Next, Paramount Global. The media and entertainment company’s stock dipped 2.8% following reports of a bid from media executive Edgar Bronfman Jr. to acquire National Amusements. This move comes after Skydance Media and its partners reached a deal to buy Paramount last month.
In the airline industry, Hawaiian Holdings and Alaska Air saw some positive movement. Hawaiian’s stock jumped 11.2% while Alaska Airlines added 2.4% after the merger between the two companies cleared the U.S. Department of Justice. The airlines are now awaiting approval from the U.S. Department of Transportation for the $1.9 billion deal to close.
We also saw positive movements in Lowe’s, Palo Alto Networks, Fabrinet, and Amer Sports, with each company reporting strong earnings and revenue beats. Additionally, Vornado Realty Trust saw a 2.2% increase after being double upgraded to outperform by Evercore ISI.
On the flip side, Boeing’s shares dipped 1% after the announcement that tests of the 777X have been paused due to structural damage. The aerospace manufacturer has deliveries scheduled for 2025, and it remains unclear if this pause will lead to a delay.
Lastly, Advanced Micro Devices saw a 1.5% increase after being initiated with a buy rating by Edward Jones. The chipmaker’s acquisition of semiconductor firm Xilinx is expected to broaden its array of chip offerings and enter new markets.
Stay tuned to Extreme Investor Network for more insights and analysis on the latest market trends and company updates. Don’t miss out on your chance to stay ahead of the game in the world of finance.