Paramount Global has announced its decision to sell book publisher Simon & Schuster to KKR for a whopping $1.62 billion in cash. This move confirms an earlier report by The Wall Street Journal. The company plans to use the proceeds from the sale to help reduce its debt, as it focuses on cost-cutting measures and shifting its focus to streaming. Following this news, Paramount's shares experienced a 4% increase in after-hours trading, reaching $16.74.
Tilray Brands Acquires Eight Beer and Beverage Brands from Anheuser-Busch InBev
Tilray Brands has made an exciting move by acquiring eight beer and beverage brands from Anheuser-Busch InBev. The cannabis company has not disclosed the exact terms of this cash transaction, but it includes popular brands such as Shock Top and Breckenridge Brewery. As a result of this announcement, Tilray's shares soared by 11% in after-hours trading on Monday, reaching $2.46.
Alteryx Faces Customer Cutbacks at Quarter End
Alteryx has encountered a stumble as its customers scaled back on large expansions at the end of the quarter. Mark Anderson, the Chief Executive, expressed his concerns regarding a "pronounced change" in the buying habits of larger customers during the final few weeks of the second quarter. Consequently, Alteryx's shares tumbled by 22% in after-hours trading, falling to $29.33.
Our Latest News
Citi analysts have raised the price target for SoFi Technologies' stock due to increasing investor interest. SoFi's impressive second-quarter results and positi...
Toyota Motor reports a 78% increase in first-quarter net profit, driven by boosted sales and relief from the semiconductor shortage. The company remains optimis...