See the companies making headlines in midday trading: Paramount Global — The media conglomerate’s stock fell 7.2% after Edgar Bronfman Jr. dropped his takeover bid, clearing the way for Skydance to move forward with the roughly $8 billion acquisition deal reached in July. The Skydance deal, which is expected to close in the first half of 2025, included a “fast-shop” window that allowed Paramount to look for other buyers. Hain Celestial Group — Shares rose 18.9% after the food company behind Terra chips and Garden of Life straws posted fiscal fourth-quarter earnings that beat expectations. Hain Celestial Group posted adjusted earnings of 13 cents, easily beating the FactSet consensus estimate of 8 cents per share. Revenue of $418.8 million, on the other hand, came in slightly below the $419.4 million expected. JD.com — Shares of the China-based e-commerce company rose 2.3%. The company said it plans to buy back $5 billion worth 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 earnings could be impacted by weak volumes and higher cocoa inflation. Trip.com — U.S. shares of the China-based travel company rose 8.6% after second-quarter revenue beat expectations. Trip.com reported 12.77 billion yuan in revenue, slightly above the 12.76 billion yuan forecast from analysts polled by FactSet. Elsewhere, the company said revenue from tours rose 42% from a year ago. Eli Lilly — The drugmaker rose 0.4% after launching a cheaper version of its weight-loss drug. Eli Lilly announced Tuesday that its new single-dose vials of Zepbound will have a list price about 50% lower and are targeting patients whose insurance doesn’t cover the weight-loss shots. Haiku — The aerospace and defense company added 0.6% and jumped after reporting fiscal third-quarter revenue of $992.2 million, below the consensus estimate of $995.3 million. Still, the company earned 97 cents a share for the period, beating Wall Street’s estimate of 92 cents. Kava Group — The fast-casual restaurant chain fell 6.1% after CEO Brett Schulman and other company insiders sold some of their shares, according to filings with the U.S. Securities and Exchange Commission. Nvidia — The artificial intelligence company’s favorite stock rose 1.5% as investors prepared for earnings due Wednesday. Truist raised its price target ahead of the report, noting that there was still reason to expect “accelerated growth” after the stock’s strong performance. Ferrari — Shares of Ferrari rose 2% after Morgan Stanley analyst Adam Jonas reiterated his overweight rating and raised his price target to a Street-high of $520. He said the stock fits a trend toward “super-premium” among personal luxury brands led by high-net-worth individuals. Netflix — The streaming stock rose 1.1% after Evercore ISI said it sees more upside than previously expected. The firm, which also reiterated its outperform rating, said the company is in a historically strong position when it comes to competition, finances and fundamentals. Insulet — The insulin maker jumped 6.6% after the U.S. Food and Drug Administration approved the use of its Omnipod 5 automated delivery system for adults with type 2 diabetes. Hansbrands — The apparel maker rose 5.7% after UBS called it a “stock to watch” for 2025. However, the firm reiterated its neutral rating on the stock. Energizer Holdings Inc. — The battery maker rose 6.6% after Truist upgraded it to buy from hold. Truist said the stock is trading at a “significant discount” to its consumer staples peers. — CNBC’s Yun Lee, Pia Singh, Jesse Pound, Hakyung Kim, Sarah Min, Samantha Sobin and Sean Conlon contributed to this report.
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