Tonix Pharmaceuticals stock halted ahead of FDA approval news
Paramount Global Class B stock reached a new 52-week high, hitting 13.61 USD, marking a significant milestone for the company. According to InvestingPro data, the media giant generates annual revenue of $28.76B and maintains strong liquidity with a current ratio of 1.39. This achievement reflects a positive trend, as the stock has experienced a notable 28.54% increase over the past year. Trading at a low Price/Book multiple of 0.44, InvestingPro analysis suggests the stock remains undervalued. The rise to this 52-week high underscores investor confidence and the company’s strong performance in the market. As Paramount Global continues to navigate the evolving media landscape, this upward trajectory highlights its resilience and potential for future growth. While currently unprofitable, analysts predict a return to profitability this year. Discover 4 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Paramount Skydance has completed its merger, creating a new entity that will trade under the ticker "PSKY" on Nasdaq. This merger combines Paramount’s extensive content library and global distribution network with Skydance’s production capabilities. Additionally, Paramount has secured a significant seven-year media rights agreement with TKO Group Holdings, making it the exclusive distributor of UFC events in the United States starting in 2026. The deal, valued at an average annual $1.1 billion, will see all UFC events streamed on Paramount+ with select events simulcast on CBS.
In preparation for the merger, Skydance Media announced a new board for Paramount Skydance Corporation, led by David Ellison as Chairman and CEO. The board includes ten director designees with expertise in media, technology, and finance. Meanwhile, Seaport Global Securities initiated coverage of Paramount Skydance with a Neutral rating. These developments reflect a strategic shift in Paramount’s business operations and distribution strategies.
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