Movers & Shakers: Beyond Meat stock skids as revenue slumps, Paramount Global shares rise, and other stocks on the move


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Here are some of the biggest movers of the day:

Stock gainers:

Paramount Global shares
rose 4% as the media company’s adjusted earnings beat expectations and as it agreed to sell Simon & Schuster for $1.6 billion to KKR.

Shares of Lucid Group Inc.
rose more than 3% in the extended session Monday after the EV startup missed Wall Street expectations for its second quarter but kept its production guidance intact.

Shares of Kyndryl Holdings Inc.
rallied more than 15% after the managed infrastructure-service company posted a surprise break-even quarter and forecast pretax profit this year. International Business Machines Corp.
spun off Kyndryl back in November.

Education technology company Chegg Inc.
on Monday reported second-quarter sales that topped expectations, and the company talked up the potential to deliver better AI learning-assistance tools. Shares jumped 24%.

Canadian cannabis producer Tilray Brands Inc. 
on Monday said it had agreed to buy eight beer and drink brands from Anheuser-Busch InBev
Shares of Tilray rose 11%.

Stock decliners:

Shares of Beyond Meat Inc.
tumbled 16% following an earnings report that included a 30% drop in revenue year-over-year for the struggling maker of plant-based meat items.

International Flavors & Fragrances Inc. shares
plummeted 22% on higher-than-expected inventory costs fueled a big earnings miss, and the company cut its sales outlook.

Shares of RingCentral Inc.
fell more than 11% in the extended session Monday after the company reported second-quarter results that slightly exceeded analysts’ estimates. The company is also welcoming Hewlett Packard Enterprise Co.
chief financial officer Tarek Robbiati as its new chief executive.

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Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

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