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Stock Market
Stock Market Trading
The stock market action in the morning of Wednesday 29th November 2023 was led by the robust performances of companies such as NetApp Inc, General Motors, Ford Motor, and Stellantis N.V., among others. The market continued its positive trajectory following the positive closing of stocks on Tuesday.
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Economy
Housing Starts
U.S. Housing starts on the rise again after dipping in the last month, as a decline in northeast didn't immediately impact the rest of the construction sector.
New housing units authorized by region
New housing units started by region
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Durable Goods Orders
New orders for Durable Goods are on the rise again, after recent weakness, but Shipments of durable goods fell by -0.29 % to $284 billions.
Durable goods shipments by industry
Durable goods new orders by industry
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Gross Domestic Product
The U.S. Gross domestic product continued to grow at very solid pace during the July-through-September period, as private domestic investments and foreign demand for American products pick up.
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Financing Agreement
In a recent press release, Grindr Inc., the world's largest social network for the LGBTQ community, announced the successful completion of a refinancing deal worth $350 million. Spearheaded by joint lead arrangers J.P. Morgan, Bank of America, Citizens Bank, and Silicon Valley Bank, with participation from Capital One, this transaction marks a significant milestone for Grindr. Despite a slight increase in borrowings during the third quarter of 2023, the company managed to enhance its total debt to equity ratio and establish a new company low. Enhanced Financial Outlook: Grindr Inc. has witnessed a noteworthy improvement in its financial health by reducing its total debt to equity ratio from 16.49 in the second quarter of 2023 to a new company low of 14.22 in the third quarter. This remarkable achievement places Grindr ahead of 23 other companies within the industry that reported higher ratios during the same period. The company's position in terms of total debt to equity has also improved significantly, moving from a rank of 2484 in the second quarter to 935 in the third quarter of 2023.
Stock Transactions
Valmont Industries, a prominent global leader in infrastructural development and agricultural productivity enhancement, has recently announced an accelerated share repurchase (ASR) agreement with Citibank, N.A. to repurchase $120 million of the company's common stock. This article will outline the essential facts surrounding this development and analyze the potential impact it may have on Valmont Industries' share value. As of now, Valmont has 20.952136752137 million shares outstanding, with a current market price of $205.05. Factual Overview: Valmont Industries, renowned for its critical infrastructural developments and agricultural innovations, has entered into an accelerated share repurchase agreement with Citibank, N.A. The objective of this agreement is to repurchase $120 million worth of Valmont's common stock. The ASR deal is executed under Valmont's previously announced share repurchase program. Avner, the President and Chief Executive Officer of Valmont Industries, highlighted the significance of this accelerated buyback, underlining the company's commitment to enhance shareholder value and leverage their robust financial position. Impact Assessment: 1. Boosted Investor Confidence: The decision to initiate a $120 million accelerated share repurchase indicates confidence in the company's future growth prospects, assuring investors of Valmont's financial health and stability. This move reinforces the belief that Valmont Industries considers its own stock to be undervalued, making it an attractive investment opportunity for shareholders.
Detailed Gross Domestic Product and related measures
Real Gross Domestic Product in numbers
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Management Announcement
Pasithea Therapeutics Faces Financial Challenges Amid Positive Clinical Development Outcome Pasithea Therapeutics Corp, a healthcare company specializing in MEK inhibitor development, recently announced the outcome of its Pre-Investigational New Drug (Pre-IND) meeting with the U.S. Food and Drug Administration (FDA) for the clinical development of its PAS-004 drug. Despite positive progress in drug development, the company's financial performance has been concerning, as it recorded a cumulative net loss of $16 million during the 12 months ending in the third quarter of 2023. This resulted in a negative return on investment (ROI) of -43.82%. Within the healthcare sector, Pasithea Therapeutics falls behind 398 other companies in terms of ROI. This financial setback raises questions about the company's ability to attract investors and support its ongoing research and development efforts.
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Recently Reported Results |
Business Update
Reston, VA & Atlanta - In an extraordinary show of support, stockholders of Proof Acquisition Corp I (NYSE: PACI) have voted overwhelmingly in favor of the previously announced business combination with Volato, Inc., one of the United States' premier private aviation companies. This historic decision, made at a special meeting held on November 28, 2023, marks a significant milestone in the partnership between Proof Acquisition Corp and Volato, promising exciting possibilities for the future of private aviation. With an astounding 97% of the votes cast in favor of the merger, stockholders have shown immense confidence in the potential growth and success of this ground-breaking business combination. The approval of this business merger cements Proof Acquisition Corp I's commitment to fostering innovation and providing exceptional value to its investors.
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Business Update
FREYR Battery Makes Strides Towards Clean Energy Transition with Operational Update at Customer Qualification Plant (New York & Oslo, Norway & Luxembourg) - FREYR Battery (NYSE: FREY), a leading developer of clean, next-generation battery cell production capacity, announced significant progress at its Customer Qualification Plant (CQP) in Mo i Rana, Norway. The company provided an update today on its operational advancements, signaling a significant step towards sustainable energy solutions. One notable achievement has been the successful completion of automated cathode casting trials. FREYR's team has diligently worked on refining the cathode casting equipment, incorporating crucial updates to the vacuum system. Last week, the company was able to successfully adjust the equipment, further enhancing the efficiency of the cathode casting process.
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Product Service News
Global Blue Reports Strong Financial Results and Promising Growth Strategy in Q2 FY23/24 SIGNY, Switzerland - Global Blue Group Holding AG (NYSE:GB and GB.WS) announced its financial results for the second quarter and six months period ended September 30, 2023. The company's CEO, Jacques Stern, expressed satisfaction with the strong performance and positive developments achieved during this period. With a 38% year-on-year increase in revenue and improvements in profitability, Global Blue is demonstrating its resilience and commitment to growth. Global Blue's strong financial performance in the second quarter and first half of the fiscal year highlights the success of its growth strategy. The company has focused on expanding its global presence and cementing its position as a leading player in the tax-free shopping industry. These efforts have paid off, resulting in increased revenue and improved profitability.
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Dividend
H World Group Limited Approves Cash Dividend, Providing Shareholders an Additional Benefit Shanghai, China, Nov. 29, 2023 ? H World Group Limited (NASDAQ: HTHT and HKEX: 1179), a prominent hotel group known for its rapid growth and market leadership, announced today that its board of directors has unanimously approved the declaration and payment of a cash dividend. The dividend, named the Cash Dividend, amounts to US$0.093 per ordinary share and US$0.93 per American Depositary Share (ADS). The Cash Dividend consists of two tranches: an ordinary dividend of US$0.062 per share, or US$0.62 per ADS, and a special dividend of US$0.031 per share, or US$0.31 per ADS. It is noteworthy that the company intends to declare an ordinary dividend each year, allocating up to 45% of its net income towards this purpose. This significant decision taken by the Board will greatly impact the shareholders of H World Group Limited. Shareholders will be pleased to receive an additional benefit in the form of a cash dividend, which demonstrates the company's commitment to rewarding its investors and sharing its success directly with them. By declaring a cash dividend, H World Group Limited aims to maintain a strong connection and rapport with its shareholders.
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Product Service News
Carvana, the leading online platform for buying and selling used cars, recently announced its expansion of same-day delivery to Central Florida residents. This move is part of the company's ongoing efforts to enhance customer experience and drive revenue growth in the region. With this expansion, Central Florida customers can now receive their purchased vehicles within hours of placing an order on Carvana.com. This seamless, quick delivery process eliminates the need for customers to wait for days or even weeks to receive their cars, providing them with a level of convenience that sets Carvana apart from traditional car dealerships.
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Partnership
eFuels Leader Infinium Receives $75M Equity Commitment from Breakthrough Energy Catalyst for Investment in Project Roadrunner and Investment will enable availability of SAF under innovative fuel offtake agreement with American Airlines, with financial support from Citi and American Airlines Group Inc's Corporate Customers have recorded an advance in their cost of revenue by 2.79% in the 3rd quarter of 2023 year on year, sequentially costs of revenue were trimmed by -2.09%. During the corresponding time, American Airlines Group Inc recorded a revenue increase of 0.15% year on year, sequentially revenue fell by -4.08%. While revenue at the American Airlines Group Inc's corporate clients recorded a rise of 5.07% year on year, sequentially revenue grew by 0.16%. The recent events mentioned above have prompted higher consumption reflected in a 2.79% surge from the same period a year ago of cost of sales, as well as a rise in spending and investments by the corporate customers. To check out the capacity of consumer willingness to spend, one could award attention to the U.S. consumer-related sectors like the Auto & Truck Manufacturers Industry and Department & Discount Retail Industry with an advance of 9.28% and a growth of 12.19% in revenue respectively.
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Product Service News
Beam Global, a leading provider of sustainable energy solutions, has recently announced a series of continuing orders for its innovative EV ARC Solar-Powered EV Charging Systems. These orders have been placed by multiple California state agencies, a testament to the growing demand for clean energy solutions and the trust placed in Beam Global's cutting-edge technology. The EV ARC Solar-Powered EV Charging Systems offered by Beam Global are revolutionizing the landscape of electric vehicle (EV) charging infrastructure. Unlike traditional charging stations that require expensive and time-consuming installation, these systems are completely off-grid, self-contained, and powered by solar energy. This makes them highly versatile, easily deployable, and ideal for locations that lack access to electricity, such as remote areas or emergencies.
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Partnership
In an era where artificial intelligence (AI) and high-performance computing (HPC) are becoming increasingly crucial, GSI Technology, Inc. is making significant strides in advancing these fields. Their innovative Gemini Associative Processing Unit (APU) has caught the attention of the tech industry, with its potential to supercharge AI and HPC applications. Furthermore, GSI Technology has recently announced a collaboration with Professor Elaheh Sadredini and her team at the University of California, Riverside, to explore the vast scope of optimization opportunities offered by the Gemini APU. Optimizing Fundamental Operations and Applications: Professor Sadredini and her team of student researchers at UC Riverside are leveraging the power of the Gemini APU to optimize critical functions such as linear algebra and Regular Expression matching. Moreover, they are diving into a range of applications including bioinformatics, machine learning, data mining, and cryptography, among others. This partnership signifies a major leap forward in refining and expanding the practical applications of AI and HPC technologies.
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Partnership
Ascendis Pharma Announces Strategic Partnership with Teijin Limited in Japan: Teijin to Lead Development and Commercialization of TransCon Therapies In a major strategic move, Ascendis Pharma has joined forces with Teijin Limited to develop and bring innovative therapies to patients in Japan. As part of this partnership, Teijin will receive an exclusive license to further develop and commercialize Ascendis Pharma's groundbreaking TransCon hGH, TransCon PTH, and TransCon CNP in the Japanese market. TransCon hGH, TransCon PTH, and TransCon CNP are three novel therapies that have shown immense potential in treating hormone deficiency disorders. TransCon hGH is designed to provide a sustained release of growth hormone for the treatment of growth hormone deficiency, while TransCon PTH aims to address hypoparathyroidism by delivering sustained and controlled levels of parathyroid hormone. Additionally, TransCon CNP holds promise as a potential treatment for achondroplasia, a genetic disorder causing skeletal dysplasia.
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Product Service News
Vodafone Business Launches AI-driven SD-LAN Business Service Using Juniper Networks Leading Wired and Wireless Access Platforms NEWBURY, England & SUNNYVALE, Calif. - Juniper Networks (NYSE:JNPR), a renowned leader in secure and AI-driven networks, has partnered with Vodafone Business to introduce a cutting-edge SD-LAN (Software Defined Local Area Networking) managed service. This service, built on Juniper's leading wired and wireless access solutions, aims to revolutionize networking experiences for Vodafone Business global customers. Leveraging the power of Juniper Mist driven by Mist AI and the cloud, this innovative solution promises unprecedented benefits and opportunities for businesses around the world. Juniper Networks holds a significant position in the networking industry and is recognized for offering secure and scalable solutions. By integrating Juniper technology into their SD-LAN service, Vodafone Business is providing its customers with a seamless and efficient networking experience. The partnership between Vodafone Business and Juniper Networks ensures that businesses can harness the full potential of their IT infrastructure without compromising security or performance.
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Product Service News
LAS VEGAS - At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced its collaboration with Accor S.A., Europe's largest hospitality company. Accor has launched a groundbreaking generative artificial intelligence (generative AI) solution using AWS, aiming to revolutionize guest experiences. This innovative solution, called the Travel Assistant, incorporates an intuitive conversational interface and empowers guests to find the best travel experiences based on their preferences. Accor's Travel Assistant is a first-of-its-kind AI solution that utilizes the power of AWS to enhance the entire travel experience for guests. Powered by generative AI, this cutting-edge technology enables users to have interactive conversations with the Travel Assistant, allowing them to discover personalized recommendations according to their preferred style of travel.
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Product Service News
TotalEnergies, a leading global energy company, has recently acquired a minority stake in Xlinks First Limited, joining other investors such as Octopus Energy and Abu Dhabi National Energy Company. Xlinks aims to develop a massive renewable project in Morocco, combining solar and wind energy sources with large-scale energy storage capabilities. In addition, when compared to its competitors, TotalEnergies has shown remarkable revenue and net income growth in the 4th quarter of 2022.
1. TotalEnergies Joins Xlinks Renewable Project: TotalEnergies has invested ?20 million to acquire a minority stake in Xlinks First Limited. This UK-based company was founded in 2019 and is actively engaged in a transformative renewable energy project. The ambitious goal of the Xlinks project is to combine solar and wind energy, coupled with substantial energy storage capacity, to provide renewable energy solutions to an island community in Morocco.
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Partnership
Nasdaq Inc. has recently introduced a groundbreaking technology that aims to revolutionize global carbon markets by securely digitizing the issuance, settlement, and custody of carbon credits. This advancement comes at a time when Nasdaq's corporate clients have witnessed a mixed bag of financial performance, with a reduction of 8.93% in costs of revenue and a 4.84% increase in revenues year on year. The third quarter marked a sequential growth in costs of revenue by 7.76%, while revenues grew by 1.26% during the same period. The Impact on Nasdaq's Corporate Clients: Nasdaq Inc.'s corporate clients have experienced varying financial outcomes in recent times. The increase in the top-line for Nasdaq's customers was primarily driven by corporate clients in the Cloud Computing & Data Analytics and Exchange Traded Funds (ETF) industries. Some of the fastest-growing clients include Cyngn Inc. (CYN) and Invesco Currencyshares Australian Dollar Trust (FXA). Furthermore, corporate clients from the Consumer Financial Services, Investment Services, Miscellaneous Financial Services, Commercial Banks, ETF, Personal Services, and Cloud Computing & Data Analytics industries have also witnessed notable boosts in revenue. However, it is essential to note that not all entities within Nasdaq's corporate client portfolio performed well. Certain sections, such as West Bancorporation Inc. (WTBA), faced challenges. Nonetheless, standout players like Cyngn Inc. (CYN), Invesco Currencyshares Australian Dollar Trust (FXA), and Plumas Bancorp (PLBC) reported remarkable efficacy in recent times.
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Contract
Rocket Software Acquires OpenText's Application Modernization and Connectivity Business for $2.275 Billion Rocket Software, a global technology leader driving innovation and modernization for major corporations worldwide, has announced its definitive agreement to acquire OpenText's Application Modernization and Connectivity (AMC) business. This division was previously a part of Micro Focus. The total purchase price for this acquisition amounts to $2.275 billion. For decades, Rocket Software has been at the forefront of solving complex technological challenges for businesses. This strategic move will further strengthen their position in the market and drive digital transformation for their clients. The acquisition of OpenText's AMC business presents an exciting opportunity for Rocket Software to expand its capabilities and offer comprehensive solutions to its clients. With an increasing demand for modernizing legacy applications and enhancing connectivity in today's rapidly evolving digital landscape, Rocket Software aims to cater to the changing needs of its clientele.
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Shares
Verve Therapeutics Sets New Milestone in Cardiovascular Medicine with Successful Pricing of Public Offering BOSTON, Nov. 28, 2023 - Verve Therapeutics, Inc. (Nasdaq: VERV) announces a significant achievement in the field of cardiovascular disease care with the successful pricing of its underwritten public offering. The clinical-stage biotechnology company, which specializes in single-course gene editing medicines, announced the sale of 12,500,000 shares of its common stock at a public offering price of $10.00 per share. The offering has resulted in total gross proceeds of $125.0 million, marking a major step forward in Verve's mission to revolutionize treatment options for cardiovascular diseases. The public offering offers investors an opportunity to participate in Verve's groundbreaking approach to tackling heart disease. With the funds raised, Verve Therapeutics will be able to further advance its clinical trials and research in the development of gene editing medicines. The company's unique approach seeks to leverage the potential of gene editing technology to address the root causes of cardiovascular diseases, unlocking new avenues for preventative and curative treatments.
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Product Service News
In a recent announcement on November 28, 2023, OKX, a major cryptocurrency exchange and Web3 technology company, unveiled new updates to its platform. The highlight of these updates is the addition of MATIC to their On-Chain Earn Product, providing users with the opportunity to earn an Annual Percentage Rate (APR) of up to 5%. Simultaneously, Magna International Inc., a prominent global automotive supplier, reported a decline in revenue and lower profitability when compared to its competitors. OKX Enhances Offering with MATIC Integration: OKX's decision to incorporate MATIC into its On-Chain Earn Product stems from the growing popularity and demand for this cryptocurrency. MATIC, the native token of the Polygon network, has gained widespread attention due to its scalability and efficiency in executing transactions on the blockchain. With OKX's new offering, users can now deposit MATIC and earn an attractive APR of up to 5%, allowing them to maximize the potential returns on their investments.
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Financing Agreement
Thermo Fisher Scientific Inc. has recently announced the pricing of an offering of $2.5 billion aggregate principal amount of senior notes. The offering includes $1.0 billion aggregate principal amount of 5.000% senior notes due 2026 and $1.0 billion aggregate principal amount of 5.000% senior notes due 2029. The 2026 notes were priced at 99.931% of their principal amount, while the 2029 notes were priced at 99.7%. Thermo Fisher Scientific Inc., a leading scientific and technical instruments company, has reported a significant increase in income. The company's income rose by 1.62% in the third quarter of 2023, reaching a cumulative value of $5,923 million. With a workforce of 130,000 employees, Thermo Fisher Scientific Inc. recorded an impressive income per employee on a trailing twelve-month basis, amounting to $45,562. This figure is higher than the company's average income per employee.
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News |
Financing Agreement
In a recent press release, Grindr Inc., the world's largest social network for the LGBTQ community, announced the successful completion of a refinancing deal worth $350 million. Spearheaded by joint lead arrangers J.P. Morgan, Bank of America, Citizens Bank, and Silicon Valley Bank, with participation from Capital One, this transaction marks a significant milestone for Grindr. Despite a slight increase in borrowings during the third quarter of 2023, the company managed to enhance its total debt to equity ratio and establish a new company low. Enhanced Financial Outlook: Grindr Inc. has witnessed a noteworthy improvement in its financial health by reducing its total debt to equity ratio from 16.49 in the second quarter of 2023 to a new company low of 14.22 in the third quarter. This remarkable achievement places Grindr ahead of 23 other companies within the industry that reported higher ratios during the same period. The company's position in terms of total debt to equity has also improved significantly, moving from a rank of 2484 in the second quarter to 935 in the third quarter of 2023.
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Housing Starts
U.S. Housing starts on the rise again after dipping in the last month, as a decline in northeast didn't immediately impact the rest of the construction sector.
New housing units authorized by region
New housing units started by region
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Stock Market
Stock Market Trading
The stock market action in the morning of Wednesday 29th November 2023 was led by the robust performances of companies such as NetApp Inc, General Motors, Ford Motor, and Stellantis N.V., among others. The market continued its positive trajectory following the positive closing of stocks on Tuesday.
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Stock Transactions
In a recent press release, Ferguson Plc, a prominent global distributor of plumbing and heating products, has provided an update on its ongoing share repurchase program. The report outlines the company's purchase of 40,000 of its ordinary shares between November 20 and November 24, 2023, as part of its $3.0 billion repurchase initiative. With 209.8 million shares outstanding and a current share price of $167.32, let's assess the impact of these developments on Ferguson Plc's overall share performance.
Ferguson Plc has been actively buying back its ordinary shares as part of its share repurchase program, which seeks to enhance shareholder value and capitalize on strong market opportunities. During the period from November 20 to November 24, 2023, the company purchased a total of 40,000 of its own shares, demonstrating its commitment to generating long-term value for its investors.
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Product Service News
Karuna Therapeutics, a biopharmaceutical company dedicated to improving the lives of individuals with psychiatric and neurological disorders, has recently announced a significant development in their mission. The U.S. Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for KarXT (xanomeline-trospium), a potential treatment for adults suffering from schizophrenia. This marks a crucial step towards providing an innovative therapy for those affected by this debilitating condition. Schizophrenia is a complex mental disorder that affects approximately 1% of the global population. It is characterized by a combination of symptoms, including hallucinations, delusions, disorganized thinking and speech, and difficulty in social interaction. The current treatment options for schizophrenia involve the use of antipsychotic medications, which may be accompanied by substantial side effects and inadequate efficacy for some patients. Therefore, the acceptance of KarXT's NDA by the FDA brings hope to individuals living with schizophrenia and their families, who have long awaited therapeutic advancements.
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Business Update
Reston, VA & Atlanta - In an extraordinary show of support, stockholders of Proof Acquisition Corp I (NYSE: PACI) have voted overwhelmingly in favor of the previously announced business combination with Volato, Inc., one of the United States' premier private aviation companies. This historic decision, made at a special meeting held on November 28, 2023, marks a significant milestone in the partnership between Proof Acquisition Corp and Volato, promising exciting possibilities for the future of private aviation. With an astounding 97% of the votes cast in favor of the merger, stockholders have shown immense confidence in the potential growth and success of this ground-breaking business combination. The approval of this business merger cements Proof Acquisition Corp I's commitment to fostering innovation and providing exceptional value to its investors.
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Durable Goods Orders
New orders for Durable Goods are on the rise again, after recent weakness, but Shipments of durable goods fell by -0.29 % to $284 billions.
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Gross Domestic Product
The U.S. Gross domestic product continued to grow at very solid pace during the July-through-September period, as private domestic investments and foreign demand for American products pick up.
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Industrial production
The output of the nation's factories, mines and utilities continues to grow but on the slower pace, mainly because of decline in auto assemblies by -4.2 %.
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Business Update
FREYR Battery Makes Strides Towards Clean Energy Transition with Operational Update at Customer Qualification Plant (New York & Oslo, Norway & Luxembourg) - FREYR Battery (NYSE: FREY), a leading developer of clean, next-generation battery cell production capacity, announced significant progress at its Customer Qualification Plant (CQP) in Mo i Rana, Norway. The company provided an update today on its operational advancements, signaling a significant step towards sustainable energy solutions. One notable achievement has been the successful completion of automated cathode casting trials. FREYR's team has diligently worked on refining the cathode casting equipment, incorporating crucial updates to the vacuum system. Last week, the company was able to successfully adjust the equipment, further enhancing the efficiency of the cathode casting process.
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Product Service News
Global Blue Reports Strong Financial Results and Promising Growth Strategy in Q2 FY23/24 SIGNY, Switzerland - Global Blue Group Holding AG (NYSE:GB and GB.WS) announced its financial results for the second quarter and six months period ended September 30, 2023. The company's CEO, Jacques Stern, expressed satisfaction with the strong performance and positive developments achieved during this period. With a 38% year-on-year increase in revenue and improvements in profitability, Global Blue is demonstrating its resilience and commitment to growth. Global Blue's strong financial performance in the second quarter and first half of the fiscal year highlights the success of its growth strategy. The company has focused on expanding its global presence and cementing its position as a leading player in the tax-free shopping industry. These efforts have paid off, resulting in increased revenue and improved profitability.
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Dividend
H World Group Limited Approves Cash Dividend, Providing Shareholders an Additional Benefit Shanghai, China, Nov. 29, 2023 ? H World Group Limited (NASDAQ: HTHT and HKEX: 1179), a prominent hotel group known for its rapid growth and market leadership, announced today that its board of directors has unanimously approved the declaration and payment of a cash dividend. The dividend, named the Cash Dividend, amounts to US$0.093 per ordinary share and US$0.93 per American Depositary Share (ADS). The Cash Dividend consists of two tranches: an ordinary dividend of US$0.062 per share, or US$0.62 per ADS, and a special dividend of US$0.031 per share, or US$0.31 per ADS. It is noteworthy that the company intends to declare an ordinary dividend each year, allocating up to 45% of its net income towards this purpose. This significant decision taken by the Board will greatly impact the shareholders of H World Group Limited. Shareholders will be pleased to receive an additional benefit in the form of a cash dividend, which demonstrates the company's commitment to rewarding its investors and sharing its success directly with them. By declaring a cash dividend, H World Group Limited aims to maintain a strong connection and rapport with its shareholders.
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Product Service News
Carvana, the leading online platform for buying and selling used cars, recently announced its expansion of same-day delivery to Central Florida residents. This move is part of the company's ongoing efforts to enhance customer experience and drive revenue growth in the region. With this expansion, Central Florida customers can now receive their purchased vehicles within hours of placing an order on Carvana.com. This seamless, quick delivery process eliminates the need for customers to wait for days or even weeks to receive their cars, providing them with a level of convenience that sets Carvana apart from traditional car dealerships.
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Partnership
eFuels Leader Infinium Receives $75M Equity Commitment from Breakthrough Energy Catalyst for Investment in Project Roadrunner and Investment will enable availability of SAF under innovative fuel offtake agreement with American Airlines, with financial support from Citi and American Airlines Group Inc's Corporate Customers have recorded an advance in their cost of revenue by 2.79% in the 3rd quarter of 2023 year on year, sequentially costs of revenue were trimmed by -2.09%. During the corresponding time, American Airlines Group Inc recorded a revenue increase of 0.15% year on year, sequentially revenue fell by -4.08%. While revenue at the American Airlines Group Inc's corporate clients recorded a rise of 5.07% year on year, sequentially revenue grew by 0.16%. The recent events mentioned above have prompted higher consumption reflected in a 2.79% surge from the same period a year ago of cost of sales, as well as a rise in spending and investments by the corporate customers. To check out the capacity of consumer willingness to spend, one could award attention to the U.S. consumer-related sectors like the Auto & Truck Manufacturers Industry and Department & Discount Retail Industry with an advance of 9.28% and a growth of 12.19% in revenue respectively.
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Product Service News
Beam Global, a leading provider of sustainable energy solutions, has recently announced a series of continuing orders for its innovative EV ARC Solar-Powered EV Charging Systems. These orders have been placed by multiple California state agencies, a testament to the growing demand for clean energy solutions and the trust placed in Beam Global's cutting-edge technology. The EV ARC Solar-Powered EV Charging Systems offered by Beam Global are revolutionizing the landscape of electric vehicle (EV) charging infrastructure. Unlike traditional charging stations that require expensive and time-consuming installation, these systems are completely off-grid, self-contained, and powered by solar energy. This makes them highly versatile, easily deployable, and ideal for locations that lack access to electricity, such as remote areas or emergencies.
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Partnership
In an era where artificial intelligence (AI) and high-performance computing (HPC) are becoming increasingly crucial, GSI Technology, Inc. is making significant strides in advancing these fields. Their innovative Gemini Associative Processing Unit (APU) has caught the attention of the tech industry, with its potential to supercharge AI and HPC applications. Furthermore, GSI Technology has recently announced a collaboration with Professor Elaheh Sadredini and her team at the University of California, Riverside, to explore the vast scope of optimization opportunities offered by the Gemini APU. Optimizing Fundamental Operations and Applications: Professor Sadredini and her team of student researchers at UC Riverside are leveraging the power of the Gemini APU to optimize critical functions such as linear algebra and Regular Expression matching. Moreover, they are diving into a range of applications including bioinformatics, machine learning, data mining, and cryptography, among others. This partnership signifies a major leap forward in refining and expanding the practical applications of AI and HPC technologies.
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Partnership
Ascendis Pharma Announces Strategic Partnership with Teijin Limited in Japan: Teijin to Lead Development and Commercialization of TransCon Therapies In a major strategic move, Ascendis Pharma has joined forces with Teijin Limited to develop and bring innovative therapies to patients in Japan. As part of this partnership, Teijin will receive an exclusive license to further develop and commercialize Ascendis Pharma's groundbreaking TransCon hGH, TransCon PTH, and TransCon CNP in the Japanese market. TransCon hGH, TransCon PTH, and TransCon CNP are three novel therapies that have shown immense potential in treating hormone deficiency disorders. TransCon hGH is designed to provide a sustained release of growth hormone for the treatment of growth hormone deficiency, while TransCon PTH aims to address hypoparathyroidism by delivering sustained and controlled levels of parathyroid hormone. Additionally, TransCon CNP holds promise as a potential treatment for achondroplasia, a genetic disorder causing skeletal dysplasia.
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Product Service News
Vodafone Business Launches AI-driven SD-LAN Business Service Using Juniper Networks Leading Wired and Wireless Access Platforms NEWBURY, England & SUNNYVALE, Calif. - Juniper Networks (NYSE:JNPR), a renowned leader in secure and AI-driven networks, has partnered with Vodafone Business to introduce a cutting-edge SD-LAN (Software Defined Local Area Networking) managed service. This service, built on Juniper's leading wired and wireless access solutions, aims to revolutionize networking experiences for Vodafone Business global customers. Leveraging the power of Juniper Mist driven by Mist AI and the cloud, this innovative solution promises unprecedented benefits and opportunities for businesses around the world. Juniper Networks holds a significant position in the networking industry and is recognized for offering secure and scalable solutions. By integrating Juniper technology into their SD-LAN service, Vodafone Business is providing its customers with a seamless and efficient networking experience. The partnership between Vodafone Business and Juniper Networks ensures that businesses can harness the full potential of their IT infrastructure without compromising security or performance.
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Product Service News
LAS VEGAS - At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced its collaboration with Accor S.A., Europe's largest hospitality company. Accor has launched a groundbreaking generative artificial intelligence (generative AI) solution using AWS, aiming to revolutionize guest experiences. This innovative solution, called the Travel Assistant, incorporates an intuitive conversational interface and empowers guests to find the best travel experiences based on their preferences. Accor's Travel Assistant is a first-of-its-kind AI solution that utilizes the power of AWS to enhance the entire travel experience for guests. Powered by generative AI, this cutting-edge technology enables users to have interactive conversations with the Travel Assistant, allowing them to discover personalized recommendations according to their preferred style of travel.
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Product Service News
TotalEnergies, a leading global energy company, has recently acquired a minority stake in Xlinks First Limited, joining other investors such as Octopus Energy and Abu Dhabi National Energy Company. Xlinks aims to develop a massive renewable project in Morocco, combining solar and wind energy sources with large-scale energy storage capabilities. In addition, when compared to its competitors, TotalEnergies has shown remarkable revenue and net income growth in the 4th quarter of 2022.
1. TotalEnergies Joins Xlinks Renewable Project: TotalEnergies has invested ?20 million to acquire a minority stake in Xlinks First Limited. This UK-based company was founded in 2019 and is actively engaged in a transformative renewable energy project. The ambitious goal of the Xlinks project is to combine solar and wind energy, coupled with substantial energy storage capacity, to provide renewable energy solutions to an island community in Morocco.
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Partnership
Nasdaq Inc. has recently introduced a groundbreaking technology that aims to revolutionize global carbon markets by securely digitizing the issuance, settlement, and custody of carbon credits. This advancement comes at a time when Nasdaq's corporate clients have witnessed a mixed bag of financial performance, with a reduction of 8.93% in costs of revenue and a 4.84% increase in revenues year on year. The third quarter marked a sequential growth in costs of revenue by 7.76%, while revenues grew by 1.26% during the same period. The Impact on Nasdaq's Corporate Clients: Nasdaq Inc.'s corporate clients have experienced varying financial outcomes in recent times. The increase in the top-line for Nasdaq's customers was primarily driven by corporate clients in the Cloud Computing & Data Analytics and Exchange Traded Funds (ETF) industries. Some of the fastest-growing clients include Cyngn Inc. (CYN) and Invesco Currencyshares Australian Dollar Trust (FXA). Furthermore, corporate clients from the Consumer Financial Services, Investment Services, Miscellaneous Financial Services, Commercial Banks, ETF, Personal Services, and Cloud Computing & Data Analytics industries have also witnessed notable boosts in revenue. However, it is essential to note that not all entities within Nasdaq's corporate client portfolio performed well. Certain sections, such as West Bancorporation Inc. (WTBA), faced challenges. Nonetheless, standout players like Cyngn Inc. (CYN), Invesco Currencyshares Australian Dollar Trust (FXA), and Plumas Bancorp (PLBC) reported remarkable efficacy in recent times.
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Contract
Rocket Software Acquires OpenText's Application Modernization and Connectivity Business for $2.275 Billion Rocket Software, a global technology leader driving innovation and modernization for major corporations worldwide, has announced its definitive agreement to acquire OpenText's Application Modernization and Connectivity (AMC) business. This division was previously a part of Micro Focus. The total purchase price for this acquisition amounts to $2.275 billion. For decades, Rocket Software has been at the forefront of solving complex technological challenges for businesses. This strategic move will further strengthen their position in the market and drive digital transformation for their clients. The acquisition of OpenText's AMC business presents an exciting opportunity for Rocket Software to expand its capabilities and offer comprehensive solutions to its clients. With an increasing demand for modernizing legacy applications and enhancing connectivity in today's rapidly evolving digital landscape, Rocket Software aims to cater to the changing needs of its clientele.
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Shares
Verve Therapeutics Sets New Milestone in Cardiovascular Medicine with Successful Pricing of Public Offering BOSTON, Nov. 28, 2023 - Verve Therapeutics, Inc. (Nasdaq: VERV) announces a significant achievement in the field of cardiovascular disease care with the successful pricing of its underwritten public offering. The clinical-stage biotechnology company, which specializes in single-course gene editing medicines, announced the sale of 12,500,000 shares of its common stock at a public offering price of $10.00 per share. The offering has resulted in total gross proceeds of $125.0 million, marking a major step forward in Verve's mission to revolutionize treatment options for cardiovascular diseases. The public offering offers investors an opportunity to participate in Verve's groundbreaking approach to tackling heart disease. With the funds raised, Verve Therapeutics will be able to further advance its clinical trials and research in the development of gene editing medicines. The company's unique approach seeks to leverage the potential of gene editing technology to address the root causes of cardiovascular diseases, unlocking new avenues for preventative and curative treatments.
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Product Service News
In a recent announcement on November 28, 2023, OKX, a major cryptocurrency exchange and Web3 technology company, unveiled new updates to its platform. The highlight of these updates is the addition of MATIC to their On-Chain Earn Product, providing users with the opportunity to earn an Annual Percentage Rate (APR) of up to 5%. Simultaneously, Magna International Inc., a prominent global automotive supplier, reported a decline in revenue and lower profitability when compared to its competitors. OKX Enhances Offering with MATIC Integration: OKX's decision to incorporate MATIC into its On-Chain Earn Product stems from the growing popularity and demand for this cryptocurrency. MATIC, the native token of the Polygon network, has gained widespread attention due to its scalability and efficiency in executing transactions on the blockchain. With OKX's new offering, users can now deposit MATIC and earn an attractive APR of up to 5%, allowing them to maximize the potential returns on their investments.
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Financing Agreement
Thermo Fisher Scientific Inc. has recently announced the pricing of an offering of $2.5 billion aggregate principal amount of senior notes. The offering includes $1.0 billion aggregate principal amount of 5.000% senior notes due 2026 and $1.0 billion aggregate principal amount of 5.000% senior notes due 2029. The 2026 notes were priced at 99.931% of their principal amount, while the 2029 notes were priced at 99.7%. Thermo Fisher Scientific Inc., a leading scientific and technical instruments company, has reported a significant increase in income. The company's income rose by 1.62% in the third quarter of 2023, reaching a cumulative value of $5,923 million. With a workforce of 130,000 employees, Thermo Fisher Scientific Inc. recorded an impressive income per employee on a trailing twelve-month basis, amounting to $45,562. This figure is higher than the company's average income per employee.
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Events for Wednesday, November 29, 2023 |
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Events for the week starting November 29, 2023 |
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ECONOMIC INDICATORS |
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FINANCIAL RESULTS | Amtech Systems Inc Today Wednesday, November 29, 2023, Amtech Systems Inc reports its full financial results | | Bath and Body Works Inc Today Wednesday, November 29, 2023, Bath and Body Works Inc reports its full financial results | | Cnbx Pharmaceuticals Inc Today Wednesday, November 29, 2023, Cnbx Pharmaceuticals Inc reports its full financial results | | Commonwealth Income and Growth Fund Vii Lp Today Wednesday, November 29, 2023, Commonwealth Income and Growth Fund Vii Lp reports its full financial results | | Gex Management Inc Today Wednesday, November 29, 2023, Gex Management Inc reports its full financial results | | La z boy Incorporated Today Wednesday, November 29, 2023, La z boy Incorporated reports its full financial results | | Macys Inc Today Wednesday, November 29, 2023, Macys Inc reports its full financial results | | Ncino Inc Today Wednesday, November 29, 2023, Ncino Inc reports its full financial results | | Okta Inc Today Wednesday, November 29, 2023, Okta Inc reports its full financial results | | Rxo Inc Today Wednesday, November 29, 2023, Rxo Inc reports its full financial results | | Salesforce Inc Today Wednesday, November 29, 2023, Salesforce Inc reports its full financial results | | Semtech Corp Today Wednesday, November 29, 2023, Semtech Corp reports its full financial results | | The Children s Place inc Today Wednesday, November 29, 2023, The Children s Place inc reports its full financial results | | Vision Marine Technologies inc Today Wednesday, November 29, 2023, Vision Marine Technologies inc reports its full financial results | | |
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DIVIDEND PAYOUT | Assured Guaranty ltd pays out a quarterly cash dividend of 0.265 per common share to shareholders of record on 2023-11-15 | | Macatawa Bank Corp pays out a quarterly cash dividend of 0.08 per common share to shareholders of record on 2023-11-14 | | Phillips 66 pays out a quarterly cash dividend of 1.04 per common share to shareholders of record on November 22, 2023 | |
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