Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
Paramount Global (NASDAQ: PARA), Constellation Energy Corporation (NASDAQ: CEG), and Walgreens Boots Alliance (NASDAQ: WBA) are the three stocks making headlines today for various reasons, from potential mergers to industry shifts and financial challenges.
Paramount Global Shares Gain on Renewed Merger Talks
Paramount Global (PARA) shares surged 6.34% to $11.40 on news of a potential merger with Skydance Media. Shari Redstone’s National Amusements has reportedly reached a preliminary deal to sell its controlling interest in Paramount to David Ellison’s Skydance Media for $1.75 billion.
The agreement, which includes a 45-day “go-shop” period, sent Paramount shares up 9% in after-hours trading. The deal is structured as a two-phase transaction, with Skydance eventually merging with Paramount. Other interested parties include film producer Steven Paul, Seagram heir Edgar Bronfman Jr., and IAC’s Barry Diller.
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Constellation Energy Corporation to Benefit from AI-Driven Energy Demand
Constellation Energy Corporation (CEG) saw its stock rise 2.60% to $211.50, benefiting from the increasing energy demand driven by AI and data centers. A third of U.S. nuclear power plants are in talks with tech companies to supply electricity for AI-powered data centers, with Amazon Web Services reportedly close to a deal with Constellation Energy.
The AI boom has led to a massive surge in electricity demand, with data centers projected to consume up to 9% of U.S. electricity by 2030. CEG’s stock has experienced significant growth, up 81.43% year-to-date, with analysts maintaining a strong buy recommendation and a consensus price target of $235.28.
Walgreens Boot Alliance Continues to Face Headwinds
Walgreens Boots Alliance (WBA) continues to face headwinds, with its stock price falling 3.24% to $11.19. The company recently saw its shares hit a 27-year low after cutting its profit outlook and announcing more store closures. WBA reported a net profit of $545 million in Q3, down 36.5% year-over-year, and slashed its annual earnings outlook by about 12%.
CEO Tim Wentworth stated that “the current pharmacy model is not sustainable,” as the company grapples with difficulties in the pharmacy business and strained American consumers. WBA plans to close a significant portion of underperforming stores over the next three years, while its international division, including Boots UK, showed growth in retail sales, particularly in beauty brands.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
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