Constellation

David

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Paramount Global (<a href="https://tokenist.com/investing/how-to-buy-stocks/" rel="noopener noreferrer nofollow" class="deco-link">NASDAQ: PARA</a>), Constellation Energy Corporation (<a href="https://tokenist.com/investing/how-to-buy-shares-online/" class="deco-link" rel="noopener noreferrer nofollow">NASDAQ: CEG</a>), and Walgreens Boots Alliance (<a href="https://tokenist.com/investing/how-to-invest-in-stocks/" class="deco-link" rel="noopener noreferrer nofollow">NASDAQ: WBA</a>) are the three stocks making headlines today for various reasons, from potential mergers to industry shifts and financial challenges.</p>
<h3 id="paramount-global-shares-gain-on-renewed-merger-talks">Paramount Global Shares Gain on Renewed Merger Talks</h3>
<p>Paramount Global (PARA) shares surged 6.34% to $11.40 on news of a potential merger with Skydance Media. Shari Redstone’s National Amusements has r<a href="https://www.nytimes.com/2024/07/02/business/media/paramount-skydance-merger-talks.html" target="_blank" aria-label="eportedly reached a preliminary deal (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">eportedly reached a preliminary deal</a> to sell its controlling interest in Paramount to David Ellison’s Skydance Media for $1.75 billion.</p>
<p>The agreement, which includes a 45-day “go-shop” period, sent Paramount shares up 9% in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">after-hours trading</a>. The deal is structured as a two-phase transaction, with Skydance eventually merging with Paramount. Other interested parties include film producer Steven Paul, Seagram heir Edgar Bronfman Jr., and <a href="https://tokenist.com/paramount-sees-premarket-gains-amid-iac-takeover-bid-talks/" class="deco-link" rel="noopener noreferrer nofollow">IAC’s Barry Diller</a>.</p>
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<h3 id="constellation-energy-corporation-to-benefit-from-ai-driven-energy-demand">Constellation Energy Corporation to Benefit from AI-Driven Energy Demand</h3>
<p>Constellation Energy Corporation (CEG) saw its stock rise 2.60% to $211.50, benefiting from the increasing energy demand driven by AI and data centers. A <a href="https://markets.businessinsider.com/news/stocks/nuclear-plants-in-high-demand-as-tech-firms-scramble-to-ramp-up-ai-data-centers-1033524308" target="_blank" aria-label="third of U.S. nuclear power plants (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">third of U.S. nuclear power plants</a> are in talks with tech companies to supply electricity for AI-powered data centers, with Amazon Web Services reportedly close to a deal with Constellation Energy.</p>
<p>The AI boom has led to a massive surge in electricity demand, with data centers projected to consume up to 9% of U.S. electricity by 2030. CEG’s stock has experienced significant growth, up 81.43% year-to-date, with analysts maintaining a strong buy recommendation and a consensus price target of $235.28.</p>
<h3 id="walgreens-boot-alliance-continues-to-face-headwinds">Walgreens Boot Alliance Continues to Face Headwinds</h3>
<p>Walgreens Boots Alliance (WBA) continues to face headwinds, with its stock price falling 3.24% to $11.19. The company recently saw its shares hit a 27-year low after <a href="https://tokenist.com/stocks-to-watch-wba-micron-technology-palo-alto-networks/" rel="noopener noreferrer nofollow" class="deco-link">cutting its profit outlook</a> and announcing more store closures. WBA reported a net profit of $545 million in Q3, down 36.5% year-over-year, and slashed its annual earnings outlook by about 12%.</p>
<p>CEO Tim Wentworth stated that “the current pharmacy model is not sustainable,” as the company grapples with difficulties in the pharmacy business and strained American consumers. <br><br>WBA plans to close a significant portion of underperforming stores over the next three years, while its international division, including Boots UK, showed growth in retail sales, particularly in beauty brands.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-para-ceg-wba/">Stocks to Watch Today: PARA, CEG, WBA</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: PARA, CEG, WBA

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