Closing Bell: Paramount/WBD Shares Gain, Kenvue Slips, AppLovin Drops

Today's biggest winners and losers in the stock market.
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, Katie Griefeld, Carol Massar and Tim Stenovec

- A group of 12 states sued Paramount Skydance (PSKY) Monday seeking to block its $110 billion bid to buy Warner Bros. Discovery (WBD) alleging the blockbuster Hollywood deal would leave viewers with higher prices and fewer choices for movies and television. In a statement, Paramount said the lawsuit was “wrong on the facts and the law” and it would vigorously defend the transaction in court. Still, shares of both companies rose.

- Tylenol maker Kenvue (KVUE), which is set to be acquired by Kimberly-Clark, slips as much as 2.3% after a federal appeals court revived lawsuits that claim the company hid alleged risks that the over-the-counter pain medication could cause autism in children whose mothers took the drug while pregnant.

- AppLovin (APP) shares sink as much as 13% after Bank of America cited data that the AI marketing platform’s eCommerce footprint is expanding at a slower-than-expected pace following its recent General Availability launch.

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