Cognizant Technology Solutions Corp. (CTSH) announced Monday it has signed a definitive agreement to acquire Belcan, LLC, a portfolio company of AE Industrial Partners and a supplier of Engineering Research & Development (ER&D) services, at a purchase price of approximately $1.3 billion in cash and stock, subject to customary adjustments. Belcan provides mission-critical digital engineering...
The private sector in Singapore continued to expand in May, and at a faster rate, the latest survey from S&P Global revealed on Wednesday with a PMI score of 54.2. That\'s up from 52.6 in April and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Output growth accelerated in...
The China stock market on Tuesday ended the three-day losing streak in which it had slumped almost 40 points or 1.3 percent. The Shanghai Composite Index now sits just above the 3,090-point plateau and it\'s likely to open in the green again on Wednesday. The global forecast for the Asian markets suggests mild upside on...
The Hong Kong stock market has climbed higher in two straight sessions, collecting more than 360 points or 2 percent along the way. The Hang Seng Index now sits just beneath the 18,450-point plateau and it may see additional support on Wednesday. The global forecast for the Asian markets suggests mild upside on easing treasury...
The Indonesia stock market has moved higher in back-to-back sessions, collecting almost 130 points or 1.9 percent along the way. The Jakarta Composite Index now sits just beneath the 7,100-point plateau and it may add to its winnings on Wednesday. The global forecast for the Asian markets suggests mild upside on easing treasury yields. The...
Australia\'s gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Wednesday. That was shy of expectations for an increase of 0.2 percent following the upwardly revised 0.3 percent gain in the previous quarter (originally 0.2 percent). On an annualized basis,...
While reporting financial results for the third quarter on Wednesday, United Natural Foods, Inc. (UNFI) raised its adjusted bottom line results guidance for the full-year 2024, while maintaining annual net sales outlook. For fiscal 2024, the company now projects a loss in a range of $1.85 to $1.45 per share and adjusted results between a...
The Japanese yen weakened against other major currencies in the European session on Wednesday, as investors looked ahead to Thursday\'s ECB meeting and the release of U.S. labor market data on Friday for directional cues. The European Central Bank is expected to ease borrowing costs by 25 basis points from the present record levels of...
Consumer price inflation in the Philippines is consistent with existing projections and is likely to exceed the target range temporarily in the coming months, due to the impact of adverse weather on domestic agricultural output and positive base effects, the country\'s central bank Bangko Sentral ng Pilipinas said Wednesday. Official data released earlier in the...
Biotech company I-Mab (IMAB) announced Wednesday that it has entered into a clinical trial collaboration and supply agreement with Bristol Myers Squibb (BMY). The collaboration will evaluate the combination of givastomig, an investigational Claudin 18.2 x 4-1BB bispecific antibody jointly developed by I-Mab and ABL Bio, with Bristol Myers Squibb\'s immune checkpoint inhibitor, nivolumab, and...