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Google-owner Alphabet Stock Slips 7%

European Economics Preview: Eurozone Flash Composite PMI Data Due

Flash Purchasing Mangers’ survey results from eurozone and the UK are due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK public sector finances data for April. The budget deficit is seen at GBP 17.8 billion versus GBP 17.3 billion in March.

At 2.45 am ET, France business confidence survey results are due. Economists expect the business sentiment index to drop to 107 in May from 108 in April.

At 3.15 am ET, S&P Global publishes France flash composite Purchasing Managers’ survey results. The composite index is expected to fall to 57.0 in May from 57.6 in April.

At 3.30 am ET, Germany flash composite PMI survey data is due. The composite output index is seen at 54.0 in May versus 54.3 in April.

Half an hour later, eurozone flash composite Purchasing Managers’ survey results are due. Economists forecast the composite index to decline to 55.3 in May from 55.8 in the previous month.

At 4.30 am ET, UK S&P/CIPS flash composite PMI survey data is due.

6 Podcasts About the Dark Side of the Internet

These shows tap into the dangers of our wired life, exploring cybercrime, cryptocurrency and the many flavors of horror that lurk on the dark web.

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By Emma Dibdin

UAE announces first case of monkeypox in the country -WAM

FILE PHOTO: Test tubes labelled “Monkeypox virus positive and negative” are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) – The United Arab Emirates announced on Tuesday the first case of monkeypox detected in the country, state news agency WAM reported, citing the health ministry.

The virus was detected in a 29-year-old woman visiting the Gulf country from West Africa.

Juancho Hernangómez Winds Down With Good Wine and the Stars Above Asturias

The N.B.A. player and star of the new basketball movie, “Hustle,” talks about his first foray into Hollywood and his cultural interests off the court.

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By Kathryn Shattuck

Abercrombie & Fitch Falls 29% On Q1 Net Loss

Abercrombie & Fitch Co. (ANF) shares are declining more than 38 percent on Tuesday morning trade after the company reported net loss for the first quarter, compared to net profit last year.

A&F posted net loss attributable to the company of $16.47 million or $0.32 per share in the first quarter, while it reported net profit of $41.77 million or $0.64 in the previous year. On an adjusted basis, loss was $0.27 per share.

Currently, shares are at $18.86, down 29.42 percent from the previous close of $26.73 on a volume of 6,742,043. The shares have traded in a range of $18.33-$48.97 on average volume of 2,039,511 for the last 52 week period.

INmune Bio Stock Tanks 27% After FDA Places Clinical Hold On IND Of Alzheimer’s Treatment

Shares of INmune Bio, Inc. (INMB) tanked over 27% on Tuesday morning after the biotechnology company said that the U.S. Food and Drug Administration has placed the Investigational New Drug (IND) application to initiate its Phase 2 trial of its XPro Alzheimer’s treatment on clinical hold.

INMB is currently trading at $5.29, down $1.98 or 27.24%, on the Nasdaq. The stock opened its trading at $4.79 after closing Monday’s trading at $7.27. The stock has traded between $4.63 and $30.37 in the past 52-week period.

INmune Bio announced that on May 20, 2022, the company was informed via e-mail communication from the FDA requesting additional information around Chemistry Manufacturing and Controls of the newly manufactured XPro1595. As part of the communication, the Agency placed the company’s Investigational New Drug (IND) application to initiate its Phase 2 clinical trial of XPro in patients with Alzheimer’s Disease (AD) in the U.S. on clinical hold.

The FDA indicated they will provide an official clinical hold letter to INmune in approximately 30 days. INmune plans to provide additional updates pending discussion with the FDA. The Phase 2 trial of XPro remains open in Australia and continues to enroll patients.

SciSparc Surges On Positive Safety Profile In Joint Preclinical Trial With Clearmind

SciSparc Ltd. (SPRC) shares are rising more than 47 percent on Tuesday morning after the specialty clinical-stage pharma company announced positive safety profile results from its joint pre-clinical trial with Clearmind Medicine Inc.

The company said the trial tested the proprietary combination of its CannAmide with Clearmind’s psychedelic molecule, MEAI, for alcohol consumption.

The trial recorded a significant reduction when treated with MEAI at a dose of 40 mg/kg and higher compared to consumption before treatment. There was a reduction of alcohol consumption in a dual treatment with 25 mg/kg CannAmide in addition to MEAI at a dose of 20 mg/kg compared to consumption before treatment.

Currently, shares are at $3.39, up 49.05 percent from the previous close of $2.28 on a volume of 10,664,139.

Google-owner Alphabet Stock Slips 7%

Shares of Alphabet Inc. (GOOGL) are slipping nearly 7% on Tuesday morning after Snap Inc.’s stock plunged as much as 40% after the social media company cut its revenue and profit forecasts.

GOOGL is currently trading at $2,074.45, down $155.31 or 6.97%, on the Nasdaq. The stock has traded between $2,069.77 and $3,030.93 in the past 52-week period.

Snap dropped below its IPO price and recorded their biggest intraday decline ever, erasing about $15 billion in market value. Several other tech companies, including Facebook-owner Meta Platforms Inc. (FB), Google-owner Alphabet, Twitter Inc. (TWTR) and Pinterest Inc. also recorded drops.