Union Pacific (NYSE:UNP) was raised to buy from hold at Jefferies after the railroad operator confirmed it was in talks with Norfolk Southern (NYSE:NSC) about a business combination. Investors should start building a position in Union Pacific (NYSE:UNP) to "get in on the ground level" on what is likely a "transformational" combination,

The combination of two large rail companies would create the first coast-to-coast network, but the deal could reduce competition.

Paramount has locked up streaming rights for the entire South Park back catalog. The media company and creators Matt Stone and Trey Parker have signed a five-year deal worth $1.5 billion. HBO Max was the previous streaming home to the show.