Stock futures edged lower in the premarket hours of Friday amid mounting tensions in the Middle East.
Here are some of Friday’s biggest stock movers:
Biggest stock gainers
Paramount Global’s (NASDAQ:PARA) stock surged 10% on reports that Sony Pictures Entertainment (SONY) has entered discussions to potentially acquire the renowned studio company. According to sources familiar with the matter, Sony (SONY) has engaged in talks with Apollo Global Management (APO) regarding a collaborative bid for Paramount, as reported by The New York Times.
Biggest stock losers
Despite topping expectations in Q1 results, Netflix (NASDAQ:NFLX) shares plunged 6% after announcing that it would stop reporting quarterly subscriber numbers within a year. The streaming giant had previously stopped forecasting subscriber numbers as it expanded revenue streams beyond membership fees to include advertising, shifting focus to revenue and operating margin.