Streetbeat News

Assets

EWG

Germany is preparing €20 billion in aid to boost chip production. The funds, to be distributed to both German and international companies by 2027, will be drawn from the Climate and Transformation Fund.

Portfolio Pulse from Charles Gross

July 24, 2023 | 11:21 am

QNCX

Quince Therapeutics, Inc. (NASDAQ:QNCX) has announced plans to acquire EryDel SpA, a late-stage biotech company. The deal involves a stock-for-stock upfront exchange and potential downstream milestone cash payments totaling up to $485 million. Upon completion, EryDel stockholders will own up to 16.7% of the combined company. The transaction will also include the assumption of EryDel's $13 million European Investment Bank loan.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:05 am

FXI

China's forex regulator has announced that eligible science and technology enterprises may participate in the cross-border financing facilitation business, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 10:58 am

GIB

CGI plans to invest $1B over the next three years to expand its AI services. The investment will be used for expanding AI-related consulting services, responsible and ethical-use delivery platforms, intellectual property AI-enablement, global employee hiring and training, and operational excellence efficiencies.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:36 am

FXI

China's Politburo plans to accelerate the issuance and usage of local government special bonds and increase the number of international flights, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:26 am

FXI

China's Politburo plans to implement a series of measures to address local government debt issues, promote the sustainable development of platform companies, and ensure the secure development of artificial intelligence, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:22 am

EWU

The S&P Global/CIPS UK Manufacturing Purchasing Managers Index has dropped to 45.0, lower than the estimated 46.1 and the prior figure of 46.5.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:33 am

EWU

The S&P Global/CIPS UK Composite Purchasing Managers' Index (PMI) has dropped to 50.7, lower than the estimated 52.4 and the prior 52.8. This indicates a slowdown in the UK's economic activity.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:33 am

RYAAY

Ryanair expects FY24 traffic to grow by 9% to approximately 183.5 million, which is slower than the originally expected 185 million due to Boeing delivery delays. The cost gap between Ryanair and competitor airlines continues to widen. The company expects an increase of approximately €2 in exfuel unit costs this year due to various factors. Q2 bookings are strong, but the fare increase in Q2 will be much lower than in Q1.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 6:40 am

NKLA

A Nikola Corp (NASDAQ:NKLA) truck that caught fire last month reignited again at the company's headquarters in Phoenix, Arizona. The company stated that the trucks were at the headquarters for safety monitoring and ongoing investigations. The cause of the fire remains officially 'undetermined', but Nikola's engineering team and a contracted third party are still investigating the incident.

Portfolio Pulse from Anan Ashraf

July 24, 2023 | 6:19 am