First Lady Jill Biden To Travel To Romania And Slovakia To Meet Ukrainian Refugees

Prologis Proposes To Acquire Duke Realty In All-Stock Deal Valued At $61.68/Shr

Logistics real estate firm Prologis, Inc. (PLD) on Tuesday sent a letter to James Connor, Chairman and Chief Executive Officer of Duke Realty Corp. (DRE), proposing to acquire Duke Realty in an all-stock transaction.

Under the terms of the proposal, Duke Realty stockholders would receive 0.466 shares of Prologis common stock for each share of Duke Realty common stock they own. Prologis’ proposal is valued at $61.68 per Duke Realty share, based on Prologis’ closing price on May 9, 2022, and represents a premium of 29% to Duke Realty’s closing price on the same date.

Following personal dialogue between the executive teams, Prologis first sent a letter to Duke Realty on November 29, 2021 regarding a potential transaction at an exchange ratio of 0.465, representing a 20% premium to Duke Realty’s stock price at the time.

Over the past five months, Duke Realty has not substantively engaged while the implied premium of Prologis offer has steadily increased.

On May 3, 2022, Prologis modestly increased the proposed exchange ratio, representing a 34% premium to Duke Realty’s stock price at the time, in a final attempt to engage privately to reach agreement on a mutually beneficial transaction. Duke Realty rejected the Prologis proposal that same evening.

Mitsubishi Motors Posts FY Profit

Mitsubishi Motors Corp. (MMTOF.PK) reported a net income attributable to the owners of the parent company of 74.04 billion yen in the full year 2021 compared to a net loss of 312.32 billion yen in the previous year.

The number of vehicles sold for the full fiscal year was 937,000 units globally, up 17% from the previous fiscal year. Consolidated net sales for the full fiscal year rose 40% year on year to 2.04 trillion yen.

Looking ahead for fiscal year 2022, the company expects profit attributable to owners of parent to be 75 billion yen, and net sales of 2.29 trillion yen.

Vertex Energy Shares Gain 7% On Q1 Results

Shares of Vertex Energy, Inc. (VTNR) are gaining over 7% on Tuesday morning after reporting first-quarter results.

VTNR is currently trading at $10.19, up $0.72 or 7.60%, on the Nasdaq. The stock opened its trading at $11.75 after closing Monday’s trading at $9.47. The stock has traded between $1.26 and $14.32.

For the three months ended March 31, 2022, the company reported a loss of $5.0 million or $0.08 per share, compared to profit of $0.6 million or $0.01 per share in the first quarter 2021. Revenues for the quarter rose to $40.2 million from $25.0 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.14 per share and revenues of $51.69 million for the quarter. Analysts’ estimates typically exclude one-time items.

European Economics Preview: Germany ZEW Economic Confidence Data Due

Economic sentiment survey data from Germany is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases consumer and producer prices for April. Inflation is expected to rise to 4.7 percent from 4.5 percent in March.

At 3.00 am ET, consumer prices and retail sales figures are due from the Czech Republic. Economists expect inflation to climb to 13.2 percent in April from 12.7 percent in March.

Also, unemployment from Turkey and consumer prices from Hungary are due.

At 4.00 am ET, Italy’s Istat publishes industrial output figures for March. Production is forecast to fall 1.9 percent on month, reversing a 4.0 percent rise in February.

At 5.00 am ET, Germany’s ZEW economic confidence survey results are due. The economic sentiment index is seen at -42.0 in May versus -41.0 in April.

In the meantime, the Hellenic Statistical Authority releases Greece consumer price figures for May.

Northwest Biotherapeutics Stock Tanks 20% On Quarterly Results

Shares of Northwest Biotherapeutics, Inc. (NWBO) tanked over 20% on Tuesday morning after reporting its quarter results.

NWBO is currently trading at $1.43, down $0.39 or 21.4286%, on the Nasdaq, on a heavy volume of 8.5 million shares, above average volume of 2.3 million. The stock opened its trading at $1.71 after closing Monday’s trading at $1.82. The stock has traded between $0.59 and $2.15 in the past 52 week period.

Revenues for the quarter were $403 thousand, up from $239 thousand last year. Net loss for the quarter widened to $14.2 million or $0.01 per share from $4.1 million or breakeven per share last year.

Northwest Biotherapeutics, a biotechnology company, develops personalized immune therapies for cancer in the United States and internationally.

First Lady Jill Biden To Travel To Romania And Slovakia To Meet Ukrainian Refugees

First Lady Jill Biden will travel to Romania and Slovakia this week to meet the displaced Ukrainian parents and children, who fled the country following Russian invasion.

During her visit, from May 5 to May 9, she will also meet with U.S. service members, U.S. embassy personnel, humanitarian aid workers, and educators.

Jill Biden is scheduled to meet with Ukrainian mothers and children on Mother’s Day.

The First Lady will depart the United States for Romania on the evening of Thursday, the White House said.

On Friday, she will visit Mihail Kogalniceau Airbase in Romania, where she will meet with United States military service members. In the evening, the

First Lady will travel to Romanian capital Bucharest.

On Saturday, Jill Biden will meet with members of the Romanian Government, U.S. embassy staff, humanitarian aid workers, as well as educators who are

helping teach displaced Ukrainian children and incorporate them into a stable and safe school environment.

She will then travel to Bratislava, Slovakia to meet with

U.S. embassy staff.

On Sunday, the First Lady will travel to Kosice and Vysne Nemecke to meet with Ukrainian refugees, humanitarian aid workers, and local Slovaks who are

supporting families who have sought refuge in their country during the Ukraine crisis.

On Monday, Jill Biden will meet with members of the Slovak Government.