Market movers: Stocks seeing action on Tuesday - and why

) dipped after it said it would sell Simon & Schuster to private-equity firm KKR & Co for US$1.62-billion in cash, ending a year-long attempt to sell the marquee book publisher.

“Simon Schuster is a fantastic asset, but ... it’s not core,” CEO Bob Bakish said on a post-earnings call. The move comes at a time when the company is striving to bolster its streaming service, Paramount+, in a fiercely competitive industry dominated by Netflix and Disney+. Finance chief Naveen Chopra promised “significant earnings improvement” in the streaming business next year and projected a 20-per-cent rise in average revenue per user on Paramount+ in 2024.) was lower on news finance chief Zachary Kirkhorn has stepped down, surprising analysts who considered the company veteran of 13 years as a possible successor to CEO Elon Musk.

Mr. Kirkhorn was seen as an effective and soft-spoken balance to the more volatile Musk and was one of the most visible executives who often spoke on calls with analysts and made presentations on strategy and products.

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Netanyahu Is Pulling Back on Judicial Revamp, Urging Market CalmIsrael’s Prime Minister Benjamin Netanyahu said he won’t pursue the entire judicial overhaul originally planned by his government, working only to change the makeup of the judge selection committee while abandoning any other steps.
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