Closing Bell: Paramount Skydance Higher on Results, RealReal Gains, Nvidia Lower on Softbank Sale
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Tim Stenovec and Carol Massar.
On this episode of Stock Movers:
- Paramount Skydance (PSKY) closed 9.77% higher today after the company reported financial results for the first time since a new investor group took over the media company in August. The company raised its cost savings goal to at least $3 billion and said it's planning an additional 1,600-person workforce reduction.
- The RealReal (REAL) shares gained on Tuesday, hitting their highest level since December 2021, after the online marketplace for luxury goods boosted its revenue guidance for the full year to beat the average analyst estimate.
- Nvidia (NVDA) shares ended the day 2.96% lower after SoftBank sold its entire stake in Nvidia for $5.83 billion to help bankroll AI investments. Softbank has sold out of Nvidia once before in 2019, then resumed buying small stakes in Nvidia in 2020.
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