• Warner Bros. Discovery (WBD) plans to reject a takeover bid from Paramount Skydance Corp. after the company amended the terms of its offer. The Warner Bros. board is concerned that Paramount has yet to increase its offer, which was earlier rejected as inferior to one from Netflix Inc.
• Molina Healthcare (MOH) rises after money manager Michael Burry highlighted the health insurer’s record of strong expense ratios and underwriting results, while praising its acquisition strategy on Substack.
• Ultragenyx (RARE) climb the most intraday since August 2024, rebounding after the shares hit a record low Monday on study failure. Jefferies analysts say the stock could rebound in 2026 ahead of a late-stage data update. 

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