-- Electromagnetic Geoservices (EMGS.OL) appointed Glenn Pettersen as interim chief executive after the company completed the sale of its operations and assets to P-2 Riggs Capital in April.
The Norwegian geophysical services company on Monday said local law requires the service of a CEO even if the business is no longer actively operating, has no employees, and holds no material assets.
Tech stocks were mixed Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally higher and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.The Philadelphia Semiconductor index shed 0.7%.In corporate news, Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares decreased 0.1%.
Financial stocks were lower Monday afternoon, with the NYSE Financial Index falling 1% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.8%.The Philadelphia Housing Index dropped 3.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.7%.Bitcoin (BTC-USD) was increasing 1.9% to $80,023, and the yield for 10-year US Treasuries was rising 7.6 basis points to 4.45%.In corporate news, American Express Global Business Travel, which is operated by Global Business Travel (GBTG), on Monday agreed to be acquired by Long Lake Management in an all-cash deal worth about $6.3 billion. Global Business Travel shares surged 57%.