Media investors will watch Paramount Global (PARA) closely today. Shari Redstone is reportedly unhappy with Skydance Media lowering its bid for the family’s controlling stake. The latest offer is $250 million less, falling from $5 billion to $4.75 billion.
Comcast (CMCSA) traded in a range of between $38 - $40 in the last month. Sony (SONY) gained 7.71% in the week as investors bet that the firm will not bid on Paramount.
In the beverage market, Coca-Cola (KO) touched a new 52-week high. Investors are confident that KO stock will outperform other beverage firms. Investors might want to consider PepsiCo (PEP) stock. Shares closed at $173.89, below its 52-week high of $192.38.
In the biotech sector, consider Viking Therapeutics (VKTX). On Tuesday, the firm posted 52-week data for its mid-stage trial for VK2809. This drug treats the liver for non-alcoholic steatohepatitis (NASH). VKTX fell by 9.7% despite a report of statistical significance in reducing liver fat over 12 weeks compared to the placebo.
Viking needed the drug to differentiate from Resmetirom. This suggests that the firm will not move to Phase 3 without a partner.
In the obesity drug sector, Novo Nordisk (NVO) traded close to a new high at $140.00. U.K. health authorities recommended its competitor’s obesity drug. The healthcare system may treat patients with Eli Lilly’s (LLY) tirzepatide.
