Sidus Space Stock Jumps 12%

Verve Therapeutics Stock Slips 11% After Pricing Share Offering At $27 A Share

Shares of Verve Therapeutics, Inc. (VERV) are slipping over 11% on Thursday morning after the company priced public offering of 8.3 million shares at $27 a share.

VERV is currently trading at $31.93, down $3.98 or 11.08%, on the Nasdaq, on a volume of 2.4 million, above average volume of 0.8 million. The stock has traded between $10.70 and $78.00 in the past 52-week period.

The biotechnology company announced the pricing of its upsized underwritten public offering of 8,333,334 common shares at $27 per share for proceeds of about $225.0 million. The offering is expected to close on July 25, 2022.

European Economics Preview: ECB Set To Lift Rates For First Time In 11 Years

The European Central Bank is set to raise interest rates for the first time in 11 years as euro area inflation remains at an undesirably elevated level.

The central bank is expected to raise interest rates by 25 basis points, as the bank announced in June. The bank is also forecast to provide guidance on the proposed anti-fragmentation tool. The outcome of the governing council meeting in Frankfurt is due on Thursday at 8.15 am ET.

ECB Chief Christine Lagarde holds press conference following the meeting in Frankfurt at 8.45 am ET.

Other major economic reports due for the day are as follows

At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for June. The budget deficit is seen at GBP 13.2 billion.

At 2.45 am ET, the French statistical office Insee publishes business confidence survey results. The business sentiment index is forecast to fall to 106 in July from 108 in June.

At 4.00 am ET, retail sales data is due from Poland. Economists expect sales to grow 21.5 percent on year in June, following a 23.6 percent rise in May.

At 7.00 am ET, Turkey’s central bank announces its interest rate decision. The bank is expected to hold its one-week repo rate at 14.00 percent.

Allstate Slips 8% In Morning Trade

Allstate Corp. (ALL) shares are declining more than 8 percent on Thursday morning trade, continuing a bearish trend for the last several days. There were no corporate announcements on the day to influence the stock movement.

On Wednesday, the company has announced estimated catastrophe losses of $356 million for the month of June. For the second quarter, pre-tax catastrophe losses were expected to be $1.11 billion.

Currently, shares are at $112.34, down 8.17 percent from the previous close of $122.34 on a volume of 1,386,423.

AAR Q4 Profit, Sales Rise

AAR Corp. (AIR) on Thursday reported fourth-quarter net income of $23.9 million or $0.66 per share, higher than $14.0 million or $0.39 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.72 per share.

Sales for the quarter grew 9 percent to $476.1 million from $437.6 million in the same quarter last year.

Analysts polled by Thomson Reuters estimated earnings of $0.67 per share on revenues of $455.5 million for the quarter. Analysts’ estimates typically exclude one-time items.

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Valero Energy Slips 7%

Shares of transportation fuels manufacturer Valero Energy Corp. (VLO) are down 7 percent on Thursday’s trading. There has not been any company announcement to impact the stock.

Valero Energy will report its second-quarter earnings on July 28.

Currently at $101.25, the stock has traded between $58.85 and $146.81 during the past 52 weeks.

Dye & Durham Proposes To Buy Link Group For Revised Price Of A$4.81/shr In Cash

Dye & Durham Limited (DND), a legal and business software provider, and Link Administration Holdings Limited (LNK), said on Thursday that they have revised proposed acquisition price of Link Group by Dye & Durham.

Accordingly, the both parties have agreed to the new base consideration of A$4.81 per Link Group share in an all-cash transaction.

Earlier this month, Link Group had rejected a A$4.57 per share revised buy-out proposal from Dye & Durham.

Amazon To Acquire One Medical For About $3.9 Bln, Incl Net Debt

The e-commerce giant Amazon (AMZN) agreed to acquire One Medical (ONEM) for $18 per share in cash, valuing the primary healthcare company at about $3.9 billion, including net debt.

Completion of the transaction is subject to customary closing conditions, including approval by One Medical’s shareholders and regulatory approval.

On completion, Amir Dan Rubin will remain as chief executive officer of One Medical.

One Medical is a U.S. national human-centered and technology-powered primary care organization with seamless digital health and inviting in-office care, convenient to where people work, shop, live, and click.

Headquartered in San Francisco, 1Life Healthcare Inc. is the administrative and managerial services company for the affiliated One Medical physician-owned professional corporations that deliver medical services in-office and virtually. 1Life and the One Medical entities do business under the “One Medical” brand.

Sidus Space Stock Jumps 12%

Shares of Sidus Space, Inc. (SIDU) are gaining over 12% on Thursday morning after the company announced that it fabricated hardware in support of NASA’s Artemis Program and their Space Launch System (SLS) Manned Vehicle.

SIDU is currently trading at $4.59, up $0.50 or 12.2225%, on the Nasdaq, on a volume of 15.7 million shares, above average volume of 7.6 million. The stock opened its trading at $4.60 after closing Wednesday’s trading at $4.09. The stock has traded between $1.26 and $29.70 in the past 52-week period.

Sidus Space, a Space-as-a-Service company focused on mission critical hardware manufacturing, announced that it has completed the fabrication of the first set of hardware in support of NASA’s Artemis Program and their Space Launch System (SLS) Manned Vehicle.