Check out the companies making waves before the opening. Paramount Global — Shares of the media conglomerate fell nearly 5% after Edgar Bronfman Jr. withdrew his offer to buy the company, clearing the way for Skydance Media to buy Shari Redstone’s media empire. Paramount expects the deal with Skydance to close in the first half of 2025. Kava Group — Restaurant shares fell more than 8% after the company said in a filing that several corporate players and major shareholders would sell part of their holdings. JD.com — The Chinese e-commerce stock rose about 3% after the company said it would undertake a $5 billion share repurchase program between September 2024 and August 2027. Hershey — The chocolate maker’s shares fell 1.7% after Citi downgraded it to sell from neutral. The company said volume issues and cocoa inflation could weigh on earnings. Trip.com — Shares of the China-based travel company soared more than 9% after it reported better-than-expected second-quarter results. The company reported adjusted EBITDA of 4.44 billion yuan and revenue of 12.77 billion yuan. Analysts surveyed by FactSet had expected revenue of 12.76 billion yuan and EBITDA of 4.02 billion yuan. Package tour revenue rose 42% year over year. Apple — Shares of the iPhone maker fell 0.3% after it said Kevan Parekh would succeed Luca Maestri as chief financial officer on Jan. 1. Eli Lilly — Shares fell 1% after the drugmaker launched a new, cheaper version of the weight-loss drug Zepbound in an effort to improve availability. Heico — Aerospace and defense stocks fell about 0.6% after it reported mixed third-quarter results. The aircraft parts maker beat profit expectations but missed Wall Street’s revenue expectations. — CNBC’s Alex Harring, Jesse Pound, Hakyung Kim and Yun Lee contributed to this report.
Stocks making the biggest moves premarket: PARA, CAVA, JD
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