Streetbeat News

CRZBF

Commerzbank AG

https://www.commerzbank.de/

Industry

Commercial Banking

Open

16.90

Mkt cap

21B

Volume

200

High

18.00

P/E Ratio

9.28

52-wk high

18.05

Low

16.55

Div yield

0.02

52-wk low

11.09

Apple lost an appeal over 4G patent infringement in London court, marking another victory for Optis Cellular Technology. Deutsche Bank and Commerzbank face a $348M lawsuit by RusKhimAlyans, a Gazprom subsidiary. Nikola Corp plans to liquidate the assets of battery maker Romeo Power. Pfizer and Samsung Biologics signed two agreements for long-term manufacturing of Pfizer's biosimilar portfolio, worth $897M. Airbus is investing in a new Wing Technology Development Centre at its Filton site in the UK. TSMC expects a significant revenue rebound due to the launch of new Apple iPhones and strong demand for AI chips. Rivian Automotive reported Q2 production and delivery numbers. Evotec secured a US government contract for orthopoxvirus antibody. Mondelēz recalled two varieties of belVita biscuits in the US over peanut contamination. BYD plans to invest $620M in Brazil's Camaçari Industrial Complex. Alibaba is conducting a strategic review of video streaming platforms Youku and Tudou. UPS drivers consider going on strike after failed labor talks. OMV and ADNOC are in talks to create a chemicals and plastics company worth over $30B. Haleon is considering divesting some smoking cessation products to sell non-core businesses.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 1:23 pm

Deutsche Bank AG (NYSE:DB) and Commerzbank AG (OTC:CRZBF) (OTC:CRZBY) are facing a lawsuit worth $348 million from RusKhimAlyans, a subsidiary of Russian gas giant Gazprom. The lawsuit demands over ₽22 billion from Deutsche Bank and over ₽8 billion from Commerzbank. This news comes after Deutsche Bank identified a shortfall in the shares backing the bank's depositary receipts (DRs) allocated before the Ukraine invasion.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 11:39 am

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