Financial Wire

Sector Update: Tech Stocks Decline Premarket Monday

-- Technology stocks were declining premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.8% lower.

Sony (SONY), SoftBank, NEC and Honda Motor (HMC) have jointly established a new artificial intelligence company to develop a domestic AI foundation model for use by Japanese companies, multiple media outlets reported. Shares of Sony Group were down more than 2% pre-bell.

Aeluma (ALMU) stock was up more than 25% after the company said it has won more than $4 million in contracts to scale the US government's semiconductor heterogeneous integration platform for quantum and high-speed datacom applications.

Cisco Systems (CSCO) is in discussions to acquire Israeli cybersecurity startup Astrix Security for $250 million to $350 million, The Information reported, citing people with knowledge of the deal. Cisco Systems shares were 0.6% lower pre-bell.

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JNBY Design Awards 600 Million Yuan Construction Contract

JNBY Design (HKG:3306) said it awarded a 600 million yuan construction contract to Zhejiang Construction Engineering Group, according to a Hong Kong bourse filing Friday.Shares of the apparel company gained nearly 3% in late morning trade Monday.Under the contract, Zhejiang Construction will be responsible for building JNBY Design's production base on a portion of land in China's Hangzhou.Construction is due for completion by Dec. 31, 2028, the firm said.

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Chengtong Development Arm Signs Wind Power Sale-Leaseback Deal

China Chengtong Development (HKG:0217) said its Chengtong Financial Leasing unit entered into a sale and leaseback arrangement with a unit of China Huadian, according to an April 17 Hong Kong bourse filing.Shares of the property developer were up over 1% in morning trade on Monday.Under the arrangement, Chengtong Financial Leasing will purchase wind power equipment and related assets for 220 million yuan and lease them back for two years for about 227.6 million yuan.The transaction is expected to generate lease interest income of about 7.6 million yuan for the unit.

$HKG:0217
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Jio Financial Services' Consolidated Profit Slips in Fiscal Q4

Jio Financial Services' (NSE:JIOFIN, BOM:543940) consolidated profit declined to 2.72 billion Indian rupees in the fiscal fourth quarter ended March 31, from 3.16 billion rupees a year ago.Earnings per share contracted to 0.43 rupees from 0.50 rupees a year earlier, the financial services company said in a Friday filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 also increased to 10.2 billion rupees from 4.93 billion rupees a year ago.The company's board also recommended a dividend of 0.60 rupees per equity share of 10 rupees each for the financial year ended March 31.

$BOM:543940$NSE:JIOFIN