Stocks making the biggest moves premarket: Paramount, Tesla, Constellation Brands and more

Here’s a quick run-through of some companies making waves before the opening bell.

Paramount Global made quite the stir as their shares shot up 12% following the news that Skydance Media has initiated a potential deal to acquire National Amusements, the major shareholder. This news was first brought to light by The New York Times and Wall Street Journal.

Tesla shares also experienced a rise, increasing by almost 3% after they reported stronger delivery numbers for the second quarter than expected. This resulted in a 10% increase in shares during Tuesday’s trading.

Constellation Brands shares gained over 2% following a better earnings report than expected. For its fiscal first quarter, Constellation reported adjusted earnings per share of $3.57, which was higher than the $3.46 per share that analysts surveyed by LSEG predicted.

Southwest Airlines shares experienced minor decline following the announcement that they have adopted a shareholder rights plan, in response to activist investor Elliot Investment Management accruing an 11% stake in the company.

Shares of Eli Lilly experienced a subtle increase after the FDA gave approval to their Alzheimer’s treatment known as donanemab, which will be marketed under the brand Kisunla.

Finally, MGM Resorts also saw a slight increase in shares by 0.9% after receiving a buy rating from BTIG due to an “attractive fundamental story”. This suggests a more than 20% upside from Tuesday’s closing.