Shares of Twin Vee PowerCats (NASDAQ: VEEE) jumped after the boat maker announced a definitive merger with mineral exploration firm USFM Corp. The deal will spin off Twin Vee's marine business and create a new publicly traded mining company.
Albrecht Reimold, the executive board member responsible for production at Porsche, is set to leave the company on September 1, several months before his contract was due to expire in early 2027, according to a media report.
Lufthansa Group announced it will restart flights to Riyadh, Saudi Arabia, and Amman, Jordan, beginning in September, restoring key Middle East routes that were suspended due to regional conflict.
Shares of the defense technology firm gained 4% after it announced its subsidiary assumed approximately $2.09 million in purchase orders as part of a U.S. manufacturing facility acquisition.
U.S. Bancorp reported second-quarter revenue and profit that surpassed analyst expectations, but its shares declined as investors engaged in profit-taking after a strong pre-earnings rally.
Shares of the Swiss-Swedish industrial group ABB declined after the company announced its largest-ever acquisition, a $5.5 billion deal for Rotork, sparking investor concerns over integration risks that outweighed a strong second-quarter earnings beat.
GE Aerospace shares declined as a robust second-quarter earnings report and raised guidance triggered a "sell the news" reaction from investors, who had already priced in the strong performance. The stock's high valuation and recent rally prompted a wave of profit-taking.
Canadian stock futures edged lower as rising oil prices, driven by escalating U.S.-Iran military conflict, overshadowed a steady interest rate policy from the Bank of Canada.
Abbott Laboratories shares surged in pre-market trading after the healthcare company reported second-quarter earnings and revenue that surpassed Wall Street expectations, driven by strong performance in its diagnostics segment.
