Sunday, 9 May 2021

Cardlytics To Acquire Bridg For About $350 Mln Cash – Quick Facts

Harry and William 'putting differences aside' to focus on Philip's funeral

London Bridge terrorist dined with victim hours before killing her

U.S. Wholesale Inventories Rise Slightly More Than Expected In February

Wholesale inventories in the U.S. increased by slightly more than anticipated in the month of February, the Commerce Department revealed in a report released on Friday.

The report said wholesale inventories climbed by 0.6 percent in February after spiking by an upwardly revised 1.4 percent in January.

Economists had expected wholesale inventories to rise by 0.5 percent compared to the 1.3 percent jump originally reported for the previous month.

The slightly bigger than expected increase in wholesale inventories came as inventories of non-durable goods surged up by 1.1 percent and inventories of durable goods rose by 0.3 percent.

Meanwhile, the report showed wholesales sales fell by 0.8 percent in February after soaring by 4.4 percent in January.

Sales of durable goods tumbled by 2.2 percent during the month, more than offsetting a 0.5 percent increase in sales of non-durable goods.

With inventories rising and sales slumping, the inventories/sales ratio for merchant wholesalers ticked up to 1.27 in February from 1.25 in January.

Next Thursday, the Commerce Department is scheduled to release a separate report on business inventories in the month of February. Business inventories are expected to rise by 0.4 percent.

The US is sending 500 extra troops to Germany, Defense Secretary Austin says, as Russia amasses troops at Europe's border

  • Defense Secretary Lloyd Austin announced the US will station 500 more troops in Germany.
  • He said this would “strengthen deterrence and defense in Europe.”
  • It comes as Russia strengthens its military force at the Ukraine border.
  • See more stories on Insider’s business page.

Defense Secretary Lloyd Austin announced on Tuesday that the US will station 500 more troops in Germany.

He said that this would “strengthen deterrence and defense in Europe.”

He made the announcement during a trip to Berlin, and said that the troops could arrive as soon as the fall, according to Axios.

The announcement comes as Russia builds up its troop presence at its border with Ukraine, prompting fears among NATO countries.

The strategy contrasts with that of former President Donald Trump, who tried to withdraw 12,000 troops from Germany before it was halted by President Joe Biden.

Ukraine has estimated that 80,000 Russian troops have now amassed on its border and Crimea.

Ukraine also says Russian President Vladimir Putin is ignoring Ukrainian President Volodymyr Zelenskyy’s requests to communicate, though the Kremlin denied receiving such requests.

Rigel Pharma Says Phase 2 Trial Of Fostamatinib For COVID-19 Met Primary Endpoint Of Safety

Biotechnology company Rigel Pharmaceuticals, Inc. (RIGL) announced Tuesday positive topline results from a multi-center, Phase 2 clinical trial to evaluate the safety of fostamatinib, its oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of hospitalized patients with COVID-19.

The trial, being conducted in collaboration with the National Heart, Lung, and Blood Institute (NHLBI), part of the National Institutes of Health (NIH), and Inova Health System, met its primary endpoint of safety. Fostamatinib reduced the incidence of Serious Adverse Events (SAEs) by half.

Based on these data, Rigel plans to discuss the potential for emergency use authorization (EUA) with the U.S. Food and Drug Administration (FDA) of fostamatinib as a treatment for hospitalized patients with COVID-19.

Covid cases 'will rise' but return to freedom 'won't be delayed', Boris says

Cardlytics To Acquire Bridg For About $350 Mln Cash – Quick Facts

Digital advertising platform Cardlytics, Inc. (CDLX) announced Tuesday its intent to acquire customer data platform Bridg for about $350 million in cash, subject to closing conditions.

Further, Cardlytics has agreed to make two potential earnout payments in cash and stock on the first and second anniversary of the closing based on Bridg’s U.S. annualized revenue run rate. These payments could equal approximately $100 million to $300 million in the aggregate.

Once the integration is complete, this addition will pair Cardlytics’ advertising platform with Bridg’s enhanced SKU-level insights and ability to engage consumers across other digital platforms.

Bridg provides a cloud-based platform that retailers and CPG marketers use for a wide range of applications, including analyzing customer behavior, marketing on digital platforms, and measuring the effectiveness of their business strategies, while following consumer privacy best practices.

Cardlytics will work with its financial institution partners to integrate the Bridg solution into its future customer offerings.

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