Paramount shares jumped more than 10% Tuesday after the company’s third-quarter earnings report and a strategy update from CEO David Ellison and his management team.

The stock topped $16.90, its highest level in two weeks, midway through the session. Trading volume on the Veterans Day holiday was lighter than average. Shares are up almost 50% since the August 7 close of the Paramount-Skydance merger, but they have been flat in recent weeks.

Paramount’s quarterly revenue came in a bit lighter than Wall Street analysts expected and there were other less-than-scintillating data points in the report. Even so, with the timing of the Paramount-Skydance merger close meaning current management wasn’t in control for the full quarter, the financials were less of a focus than exec comments o

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