See the companies making headlines in midday trading: Paramount Global — Shares of the media conglomerate fell more than 5% after Edgar Bronfman Jr. abandoned his pursuit of a takeover, clearing the way for Skydance to follow through on a roughly $8 billion acquisition deal it reached in July. Skydance’s deal, which is expected to close in the first half of 2025, includes a “go shop” window that will allow Paramount to look for other buyers. Hain Celestial Group — Shares jumped more than 23% after the food company behind Terra chips and Garden Veggie Straws reported 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, on the other hand, was $418.8 million, slightly below the expected $419.4 million. JD.com — Shares of the China-based e-commerce company rose about 3%. The company said it plans to buy back $5 billion of stock between September 2024 and August 2027. Hershey — Shares of the chocolate maker fell 2% after Citi downgraded the stock to sell from neutral. The company said future earnings could be impacted by volume weakness and higher cocoa inflation. Trip.com — Shares of the China-based U.S. travel company jumped 9% after second-quarter revenue beat expectations. Trip.com posted revenue of 12.77 billion yuan, slightly above the 12.76 billion yuan forecast by analysts polled by FactSet. Elsewhere, the company said package tour revenue rose 42% from a year ago. Eli Lilly — Shares of the pharmaceutical company rose nearly 1% after it launched a cheaper version of its weight-loss drug. Eli Lilly announced Tuesday that new single-dose vials of its Zepbound drug will be priced about 50% lower and are aimed at patients who don’t have insurance coverage for the weight-loss injection. Heico — The aerospace and defense company fell nearly 1% after its 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 in the period, beating Wall Street estimates of 92 cents. Cava Group — The fast-casual restaurant chain fell 5% after CEO Brett Schulman and other company insiders sold some of their shares, according to a filing with the Securities and Exchange Commission. Nvidia — The artificial intelligence darling rose 1.2% as investors braced for earnings expected Wednesday. Truist raised its price target ahead of the report, noting there was still reason to expect “accelerated growth” following 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 Wall Street-high $520. He said the stock has aligned with the “ultra-premium” trend among personal luxury brands driven by high-net-worth individuals. Netflix — The streaming stock jumped 2.5% after Evercore ISI said it sees higher growth prospects than previously expected. The company, which also reaffirmed its outperform rating, said the company is in a historically strong position when it comes to its competitive, financial and fundamentals. Insulet — The insulin maker jumped nearly 8% after the U.S. Food and Drug Administration cleared its Omnipod 5 automated delivery system for use in adults with type 2 diabetes. Hanesbrands — The apparel maker jumped 7% after UBS named it a “play” for 2025. The firm, however, reaffirmed its neutral rating on the stock. Energizer Holdings — The battery maker jumped nearly 7% after Truist upgraded it to buy from hold. Truist said the stock is trading at a “meaningful discount” to other consumer staples companies. — CNBC’s Yun Li, Pia Singh, Jesse Pound, Hakyung Kim, Sarah Min, Samantha Subin and Sean Conlon contributed reporting.
