European Economic News Preview: Eurozone Economic Sentiment Due

Aclarion Stock Up 61% On Deal With London Spine Clinic

Shares of the healthcare technology company, Aclarion, Inc. (ACON) were up 61% on Tuesday after the announcement of a commercial agreement with the London Clinic and London Spine Clinic to use the Nociscan solution.

ACON is currently trading at $0.99, up 61.49% or $0.37 per share, on the Nasdaq. It has traded between $0.38 and $2.37 in the past 52-week period.

The partnership with Aclarion is set to enable the London Spine Clinic to use the Nociscan solution to assess biomarkers associated with low back pain and enhance the precision of each diagnosis.

Nociscan is a SaaS platform to leverage MR Spectroscopy to noninvasively help physicians distinguish between painful and nonpainful discs in the spine.

Seagen To Be Acquired By Pfizer For $43 Bln

The biotechnology company Seagen Inc. (SGEN) announced on Tuesday that its stockholders have approved a proposal under which Pfizer will acquire Seagen.

Under the merger agreement, Pfizer will acquire Seagen for $229 per share in cash for a total of $43 billion.

Seagen will file the final, certified voting results in Form 8-K with the SEC. The acquisition is expected to close in late 2023 or early 2024.

Tuesday, the stock closed at $194.01 in regular trading hours, up 0.27% or $0.52 a share, on Nasdaq.

European Economic News Preview: UK Inflation Data Due

Consumer and producer prices from the UK and business sentiment from Germany are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for April. Inflation is forecast to ease to 8.3 percent in April from 10.1 percent in March. Output price inflation is seen at 8.6 percent in April compared to 8.7 percent in March.

At 4.00 am ET, ifo business confidence survey results are due from Germany. Economists expect the business confidence index to fall to 93.0 in May from 93.6 in April.

At 6.00 am ET, the Confederation of British Industry publishes Industrial Trends survey results. The UK order book balance is seen at -19 percent versus -20 percent in April.

Hewlett Packard Enterprise Q2 Profit Increases, beats estimates

Hewlett Packard Enterprise (HPE) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $418 million, or $0.32 per share. This compares with $250 million, or $0.19 per share, in last year’s second quarter.

Excluding items, Hewlett Packard Enterprise reported adjusted earnings of $685 million or $0.52 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.9% to $6.97 billion from $6.71 billion last year.

Hewlett Packard Enterprise earnings at a glance (GAAP) :

-Earnings (Q2): $418 Mln. vs. $250 Mln. last year.
-EPS (Q2): $0.32 vs. $0.19 last year.
-Analyst Estimate: $0.48
-Revenue (Q2): $6.97 Bln vs. $6.71 Bln last year.

Next quarter EPS guidance: $0.44 – $0.48
Next quarter revenue guidance: $6.7 – $7.2 Bln
Full year EPS guidance: $2.06 to $2.14

Box Q1 Earnings, Revenues Beat Estimate

Box, Inc. (BOX) on Tuesday posted first-quarter earnings and revenue that beat the Street estimates.

The first-quarter net income came in at $8.4 million or $0.02 per share, after reporting a loss of $4.69 million or $0.06 per share in the same period a year earlier.

Adjusted income was $47.51 million or $0.32 per share, compared to the $35.53 million or $0.23 per share the prior year. It surpassed the analyst consensus estimate of $0.27 per share.

The company’s revenue for the quarter rose to $251.9 million from $238.4 million last year, exceeding the analyst consensus estimate of $249.25 million.

The company expects revenue in the range of $260 million to $262 million for the fiscal second quarter versus the analyst consensus of $260.30 million. For the next quarter, the company expects earnings per share in the range of $0.34 to $0.35 versus the analyst consensus of $0.33.

Tuesday, the stock closed at $28.02 in regular trading hours, up 1.01% or $0.28 a share, on The New York Stock Exchange.

JOYY Turns To Profit In Q1

JOYY Inc. (YY), formerly known as YY Inc, reported that its net income attributable to controlling interest of the company for the first quarter of 2023 was US$28.0 million, compared to net loss of US$27.5 million last year.

Non-GAAP net income attributable to controlling interest and common shareholders was US$49.9 million, compared to US$20.9 million in the prior year.

Net revenues were US$583.6 million, down from US$623.8 million in the previous year.

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European Economic News Preview: Eurozone Economic Sentiment Due

Economic confidence and monetary aggregates from the euro area are due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, final quarterly national accounts and foreign trade figures are due from Sweden. The initial estimates showed that the economy logged a sequential growth of 0.2 percent in the first quarter, reversing a 0.5 percent fall in the fourth quarter.

At 3.00 am ET, Swiss GDP data for the first quarter is due. The economy is forecast to grow 0.1 percent quarter-on-quarter after stagnating in the preceding period.

In the meantime, Spain’s statistical office INE is set to publish flash inflation figures for May and retail sales for April. Consumer price inflation is seen slowing to 3.5 percent in May from 4.1 percent in April.

At 4.00 am ET, the European Central Bank releases monetary aggregates for April. Eurozone M3 money supply is forecast to rise 2.1 percent annually after rising 2.5 percent in March.

At 5.00 am ET, the European Commission publishes euro area economic sentiment survey data. The economic confidence index is forecast to fall to 98.9 in May from 99.3 in April.