Warner Bros. Discovery (WBD) is the target of a $110 billion acquisition by Paramount Skydance (PSKY) in which Tencent plans to invest several hundred million dollars as a passive financial backer, Bloomberg News reported Monday, citing unnamed people familiar with the situation. Wells Fargo set Paramount Skydance's ratings at underweight, with a price target of $10.
Shares of Paramount Skydance dropped 8%, with intraday trading volume at over 7.8 million versus a daily average of roughly 10.6 million.
Venu (VENU) said Sunday it priced a public offering of its securities for about $75 million in expected gross proceeds.
Shares were down 19% as intraday trading volume surged to more than 1.55 million versus the stock's daily average of about 197,000.
Brand Engagement Network (BNAI) disclosed in a Form 8-K filing with the US Securities and Exchange Commission that it has received the third installment payment of $506,000 as part of a previously announced private placement of common shares.
Shares sank 26%, with intraday trading volume at over 1.28 million compared with a daily average of about 9.52 million.
Price: 27.75, Change: -0.20, Percent Change: -0.72