Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (-0.2%) remains just below its baseline with half an hour left in today's action, while the S&P 500 (+0.3%) and DJIA (+1.3%) set their sights on a higher finish. 

With the AI trade experiencing some sluggishness after yesterday's rally, the major averages have relied on the broader market to facilitate gains today. 

Paramount Skydance (PSKY 16.69, +1.44, +9.46%) is the top mover in the S&P 500 today, with shares rallying despite a mixed Q3 performance. Adjusted EPS of $0.12 appears to be below the $0.40 FactSet consensus, and revenue was essentially flat year-over-year at $6.7 billion, also missing expectations. However, management's strong forward guidance and strategic cost actions are driving positive investor sentiment.

The stock's rally reflects optimism around management's credible transformation plan and robust forward guidance, but organic earnings growth must accelerate as legacy TV declines persist.