Closing Bell: Paramount Skydance Rallies, Zoom Reports, Walmart Falls

On this episode of Stock Movers:

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 Norah Mulinda.

- Paramount Skydance (PSKY) shares rallied 14% rally for newly-merged media company Paramount Skydance topped the S&P 500 leaderboard on Thursday. Shares have been volatile since trading launched, surging some 36% in just a few weeks.

- Zoom (ZM) gave a stronger-than-expected annual outlook for sales growth, and raised its fiscal-year forecast, suggesting customers are buying more of the company’s expanded line of software products. Revenue will be about $4.83 billion in the fiscal year ending in January, Zoom said Thursday in a statement. Profit, excluding some items, will be $5.81 a share to $5.84 a share. Analysts, on average, projected sales of $4.81 billion and earnings of $5.60 a share.

- Walmart (WMT) hares fell after profit missed expectations for the first time in three years, overshadowing higher sales. Adjusted earnings per share came in at 68 cents for the second quarter, six cents lower than what Wall Street expected. The world’s largest retailer cited a rise in insurance claims, legal charges and restructuring costs as factors weighing down its profit. Through Wednesday’s close, the stock had gained nearly 14% this year, outpacing the 8.7% advance of the S&P 500 Index.

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