Skydance-owned Paramount surges

** Paramount Skydance's shares PSKY.O jump 33.7% to $14.67

** PSKY is the #3 trending ticker on retail investor forum Stocktwits on Wednesday

** PSKY said on Monday it will pay $7.7 billion for exclusive U.S. broadcast rights to the Ultimate Fighting Championship for seven years

** Raymond James has said that the deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn

** "In the increasingly high-stakes brawl for live sports, Paramount just bought itself both an anchor tenant for streaming and a ratings jolt for broadcast" - Emarketer senior director Jeremy Goldman

** The $8.4 billion merger between Skydance Media and Paramount Global completed last week

** Average rating of 26 brokerages covering the stock is "hold" and their median PT is $11 - LSEG-compiled data