Streetbeat News

OMVJF

OMV AG

https://www.omv.com

CEO

Rainer Seele

Industry

Support Activities for Oil and Gas Operations

Open

41.90

Mkt cap

14B

Volume

High

41.90

P/E Ratio

9.57

52-wk high

52.00

Low

41.53

Div yield

0.14

52-wk low

39.74

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

Austria's OMV AG is reportedly in talks with Abu Dhabi National Oil Co. (ADNOC) to merge their companies, Borouge Plc and Borealis AG, into a chemicals and plastics firm worth over $30 billion. The potential valuation and ownership structure are being discussed, with formal merger terms expected in the coming weeks. OMV owns 75% of Borealis, while ADNOC holds the remaining. The combined entity's valuation may exceed $30 billion, including potential synergies.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 9:52 am

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