We recently published 10 Stocks on Euphoria. Are You Holding Any? Paramount Skydance Corp. (NASDAQ:PSKY) is one of the best-performing stocks on Tuesday. Paramount Skydance ended 8.4 percent higher on Tuesday after rallying as much as 11.

"The addition of UFC's year-round must-watch events to our platforms is a major win," said Paramount CEO David Ellison, former CEO of Skydance, calling the mixed martial arts franchise a "global sports powerhouse".

Paramount Skydance said it will become the exclusive distributor of TKO Group's UFC events in a seven-year deal worth $7.7 billion.