Check out the companies making headlines in midday trading: Paramount Global — The media conglomerate's stock dropped more than 5% after Edgar Bronfman Jr. abandoned his pursuit of a takeover, clearing the way for Skydance to follow through on its roughly $8 billion acquisition deal reached in July. The Skydance deal, expected to close in the first half of 2025, included a "go shop" window that allowed Paramount to seek other buyers.
Heico — The aerospace and defense company shed nearly 1% after revenue for the third fiscal quarter came in at $992.2 million, under the consensus forecast of $995.3 million. However, the company earned 97 cents per share during the period, topping the 92 cent estimate from Wall Street. Cava Group — The fast-casual restaurant chain shed 5% after CEO Brett Schulman and other corporate insiders sold off some of their shares, according to filings with the U.S. Securities and Exchange Commission.
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