A look at the biggest gainers in pre-market trading: Eli Lilly — A late-stage trial found the drugmaker’s weight-loss drug tezeparatide, the active ingredient in Zepbound and Mounjaro, reduces the risk of obesity or being overweight in adults. The company’s shares rose 1.7% 94% of people with type 2 diabetes. Paramount Global — Reports suggest media executive Edgar Bronfman Jr. has submitted a roughly $4.3 billion bid to acquire a controlling stake in Paramount Global. Shares of National Amusements, the media and entertainment company, fell 2.8%. Last month, Skydance Media and its partners reached an agreement to acquire Paramount. Hawaiian Holdings, Alaska Airlines — Hawaiian Airlines shares rose 11.2% and Alaska Airlines shares rose 2.4% after the U.S. Department of Justice approved the merger of the two companies. The airline now needs approval from the U.S. Department of Transportation before the $1.9 billion deal can close. Lowe’s – Shares of Lowe’s edged higher after the home improvement retailer beat second-quarter profit expectations. Lowe’s lowered its full-year outlook, citing lower-than-expected DIY sales pressure and macroeconomic conditions. Palo Alto Networks — The cybersecurity company’s fourth-quarter earnings beat Wall Street expectations, sending shares up 2.8%. Palo Alto Networks also provided strong guidance for the fiscal first quarter and full year. Fabrinet — Shares of Fabrinet rose nearly 10% on Monday after the company beat profit and revenue estimates. Fabrinet reported fourth-quarter adjusted earnings per share of $2.41 on revenue of $753 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $2.25 per share on revenue of $733 million. Boeing Co. — Shares of the aerospace manufacturer fell 1% after announcing it was suspending 777X testing. Boeing said it found a structural damage to the plane. Deliveries of the 777X are scheduled for 2025, and it is unclear whether the suspension will cause delays. Advanced Micro Devices — Advanced Micro Devices rose 1.5% after Edward Jones initiated a buy rating on the chip maker, saying AMD’s acquisition of semiconductor company Xilinx will help expand its chip product lineup and enter new markets. Amer Sports — Shares of Amer Sports rose 6.5% after the Finland-based global sports and outdoor company reported better-than-expected profit and revenue. Amer Sports also raised its full-year guidance. Vornado Realty Trust — Shares of Vornado Realty Trust rose 2.2% after Evercore ISI upgraded the real estate investment trust to outperform from underperform. Vornado, which has a portfolio of New York City office towers, has outperformed its peers and will continue to do so in the near term, the Wall Street firm said. The stock is up more than 16% this year. —CNBC’s Jesse Pound, Sarah Min, Samantha Subin and Pia Singh contributed reporting.
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