By Francesca Fontana
The Score is a weekly review of the biggest stock moves and the news that drove them.
Paramount has settled its lawsuit with President Trump over a "60 Minutes" interview with former Vice President Kamala Harris.
The company, which owns CBS News, said Tuesday that it has agreed in principle to pay $16 million to the president's future presidential library and legal fees.
Trump's lawsuit against CBS alleged that the network deceitfully edited the interview with the Democratic presidential candidate to make her sound better. CBS has said the broadcast was "not doctored or deceitful."
The suit has hung over Paramount's planned merger with Skydance Media, which the Federal Communications Commission has been reviewing.
Paramount shares lost 2.4% Wednesday.
Tesla's sales are still sliding, but investors seemed ready for the bad news.
The electric-car maker said its sales fell 13.5% in the second quarter compared with a year ago. The company said it delivered 384,122 Teslas in the quarter, missing expectations of 387,000, according to FactSet.
Tesla has struggled to reverse months of declining sales, which analysts have in part attributed to consumer backlash against the brand and Chief Executive Elon Musk's polarizing political work.
Tesla shares rose 5% Wednesday.
Constellation Brands
Demand for Constellation Brands is going flat among its core consumers.
The U.S. importer of Modelo and Corona beers on Tuesday posted lower quarterly profit and sales, weighed down by widespread consumer weakness. The downturn in demand includes its key Hispanic demographic, which Constellation executives previously noted were spending less amid fears of immigration crackdowns.
Beer sales fell 2% in the quarter, Constellation said, and slumped most significantly in areas with larger Hispanic populations within its top markets.
Sales in the wine-and-spirits segment also fell 28% on weak demand, particularly in lower-price segments.
Constellation Brands shares gained 4.5% Wednesday.
Meta Platforms
The U.S. will resume trade talks with its northern neighbor after Canada agreed to withdraw its digital-services tax, a decision cheered by the U.S. tech sector.
The 3% tax, slated to start Monday, was tied to technology companies' revenue from providing digital services to Canadian users, and would have cost the sector billions of dollars a year. For months, tech executives asked the Trump administration to intervene, warning that other countries might follow Canada's lead.
U.S. National Economic Council Director Kevin Hassett said late Sunday that U.S.-Canada trade talks would continue, and that other nations that have planned similar levies on tech firms would have to do the same or face new tariffs.
Meta Platforms shares edged 0.6% higher Monday.
U.S. banking giants are boosting payouts to shareholders after passing a Federal Reserve stress test.
JPMorgan upped its dividend by 7.1% to $1.50 a share and authorized $50 billion of stock buybacks.
The Fed said June 27 that all 22 banks in this year's stress test had enough capital to absorb more than $550 billion in losses during a severe downturn and still continue lending.
Analysts predicted that dividend hikes and buybacks would follow, as stress test results are used to calculate how much capital banks must hold and how much flexibility they have to increase payouts.
JPMorgan shares added 0.5% Wednesday.
The U.S. and Vietnam struck a deal on tariffs Wednesday, boosting sportswear and apparel stocks such as Nike and Lululemon Athletica that depend on the country for manufacturing.
President Trump said American goods will enter Vietnam duty free, and in return the U.S. will charge 20% tariffs on Vietnamese goods -- instead of the 46% tariffs Trump announced in April.
Nike's supply chain has been heavily reliant on three countries hit hard by Trump's tariff announcements in April: Vietnam, China and Indonesia.
In recent days, Trump also made a trade deal with China, which was hit by a different set of tariffs based on its role in the fentanyl trade and unfair trade practices.
Nike shares increased 4.1% Wednesday.
Our weekly markets news roundup is now part of the WSJ's What's News podcast. Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Check out What's News in Markets at wsj.com/podcasts or wherever you listen.
Write to Francesca Fontana at francesca.fontana@wsj.com.
(END) Dow Jones Newswires
July 03, 2025 16:15 ET (20:15 GMT)
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