Check out the companies making headlines before the market opens. Paramount Global — Shares of Paramount Global soared more than 12% on news that Skydance Media has reached a preliminary agreement to acquire National Amusements, the company’s controlling shareholder. News of the agreement was first reported by The New York Times and The Wall Street Journal. Tesla — Shares of Tesla rose nearly 3% a day after the electric car maker reported stronger-than-expected second-quarter delivery data. Shares rose 10% intraday on Tuesday. Constellation Brands — Beer and wine stocks rose more than 2% after a better-than-expected earnings report. Constellation reported first-quarter adjusted earnings of $3.57 per share, while analysts polled by London Stock Exchange Group (LSEG) expected earnings of $3.46 per share. Sales were $2.66 billion, up 6% year over year, but slightly below expectations of $2.67 billion. Southwest Airlines — Shares fell slightly after the airline announced it would adopt a shareholder rights plan. Southwest’s move comes in response to activist investor Elliott Investment Management accumulating an 11% stake in the company. The new scheme is valid for one year and can be triggered as long as any entity holds at least 12.5% of the airline’s shares. Eli Lilly — Shares of Eli Lilly rose slightly after the U.S. Food and Drug Administration approved the drugmaker’s Alzheimer’s treatment, donanemab. The drug will be sold under the brand name Kisunla and is used in adults with early symptoms. Shares fell about 1% during trading on Tuesday. MGM Resorts International — Shares of MGM Resorts International rose 0.9% after BTIG gave the company a buy rating, citing an “attractive fundamental story.” The $52 price target implies an upside of more than 20% from Tuesday’s closing price. —CNBC’s Lisa Han, Jesse Pound and Sarah Min contributed reporting
