Wall Street was slow to gain traction in premarket trading today, the Associated Press reports. Futures for the S&P 500 were up less than 0.1% before the bell, while futures for the Dow Jones Industrial Average were essentially unchanged a day after the index set an all-time high.
Paramount shares tumbled 6% after Edgar Bronfman Jr. withdrew his offer to buy Shari Redstone’s National Amusements, the controlling shareholder of the Hollywood studio. A previously agreed-upon merger between Paramount and media company Skydance now appears poised to move forward after Bronfman told Paramount’s special committee of directors Monday night he was pulling his $6 billion bid.
Shares of Cava Group slid 9.3% after the Mediterranean fast casual restaurant chain disclosed significant insider stock sales. Cava boosted its full-year guidance last week while reporting strong sales and profit, pushing its shares to all-time highs.
Benchmark U.S. crude fell 41 cents to $77.01 per barrel. Brent crude, the international standard, gave up 39 cents to $79.97 per barrel.
In currency trading, the U.S. dollar ticked up to 144.56 Japanese yen from 144.52 yen.
