Skydance and its financial backers will invest more than $8 billion into Paramount and to acquire National Amusements, Paramount's controlling shareholder.
Morphic Holding – Shares rallied 75% on news that Eli Lilly will acquire the biopharmaceutical company in a $3.2 billion deal .
The deal will give Eli Lilly access to Morphic's portfolio of treatments in development, such as those for ulcerative colitis and Crohn's disease.
Shares of Eli Lilly advanced 1.3% on the news.
Boeing – Shares fell slightly after the airplane maker agreed to plead guilty to criminal fraud related to the fatal 737 Max crashes, sparing Boeing from a trial.
Persons:
Eli Lilly, BofA, Corning, Guggenheim, Max, Grayson, Raymond James, Samantha Subin, Pia Singh, Hakyung Kim, Sarah Min, Michelle Fox
Organizations:
Paramount Global, Skydance Media, Skydance, Paramount, National, Morphic, Ideaya Biosciences, Bank of America, Boeing –, Boeing, ., CNBC, Devon Energy, Gilead Sciences
Locations:
Columbia, Stifel, Williston, Gilead