Paramount Global (PARA)
Paramount Global shares rose 4% as the media company’s adjusted earnings beat expectations. Additionally, it has agreed to sell Simon & Schuster for $1.6 billion to KKR.
Lucid Group Inc. (LCID)
Shares of Lucid Group Inc. rose more than 3% in the extended session Monday. Despite missing Wall Street expectations for its second quarter, the EV startup maintained its production guidance.
Kyndryl Holdings Inc. (KD)
Kyndryl Holdings Inc. rallied more than 15% after posting a surprise break-even quarter and forecasting pretax profit for this year. This managed infrastructure-service company was spun off by International Business Machines Corp. (IBM) back in November.
Chegg Inc. (CHGG)
Education technology company Chegg Inc. reported second-quarter sales that surpassed expectations. The company highlighted the potential to deliver better AI learning-assistance tools, resulting in a 24% jump in shares.
Tilray Brands Inc. (TLRY)
Canadian cannabis producer Tilray Brands Inc. announced the agreement to acquire eight beer and drink brands from Anheuser-Busch InBev. As a result, Tilray’s shares rose 11%.
Beyond Meat Inc. (BYND)
Beyond Meat Inc. experienced a 16% decline in shares following an earnings report that showed a 30% drop in revenue year-over-year for the struggling maker of plant-based meat items.
International Flavors & Fragrances Inc. (IFF)
Shares of International Flavors & Fragrances Inc. plummeted 22% due to higher-than-expected inventory costs, resulting in a significant earnings miss. The company also revised its sales outlook.
RingCentral Inc. (RNG)
RingCentral Inc. saw a more than 11% decrease in shares after reporting second-quarter results that slightly exceeded analysts’ estimates. Additionally, the company has announced Tarek Robbiati as its new chief executive, who currently serves as the chief financial officer of Hewlett Packard Enterprise Co. (HPE).