Markets

Absci (ABSI) announced the pricing of its public offering of 16,670,000 shares at $3.00 per share, expecting gross proceeds of $50 million. Underwriters have a 30-day option to purchase an additional 2,500,500 shares. Absci will use the funds for program advancements, platform investment, and general corporate purposes. Morgan Stanley, J.P. Morgan, Jefferies, and TD Cowen are managing the offering, expected to close around July 25, 2025.

On July 22nd, millionaire CEO Francois Christian Conradie, 39, was killed at the Gondwana Private Game Reserve in South Africa after being attacked by a bull elephant. Conradie, attempting to move the herd away from tourist areas, was gored and trampled. Witnesses described a brutal, brief attack. Conradie, head of a sports management firm, was known for his passion for elephants and conservation, holding degrees in zoology, business, and marketing. The reserve is investigating the incident and has requested privacy for Conradie’s family.

Motorola Solutions is introducing “AI nutrition labels” for its public safety and enterprise security products, aiming for transparency in AI deployment. These labels will detail aspects like AI type, data ownership, human oversight, and intended purpose. The initiative, stemming from the Motorola Solutions Technology Advisory Committee (MTAC), showcases the company’s commitment to responsible AI, providing clear information about AI’s role in protecting communities and supplementing human capabilities during incidents.

VeriSign’s latest Domain Name Industry Brief (DNIB) reports continued growth in the global domain name market, reaching 371.7 million registrations by the end of Q2 2025, a 0.9% increase from Q1 and 2.6% year-over-year. .com and .net registrations collectively totaled 170.5 million. ccTLDs also saw growth, reaching 143.4 million registrations. The report indicates a maturing but expanding market driven by global digitization. DNIB.com, backed by Verisign, provides detailed domain name industry analysis.

Sturgis Bancorp (STBI) reported a strong Q2 2025 with net income increasing to $1.6 million and earnings per share reaching $0.76. The net interest margin improved significantly to 3.62%. Deposits grew by $40 million to $882 million. Wholesale funding dependence was reduced. However, noninterest expenses increased, and noninterest income decreased year-to-date. The bank maintains a strong capital position with a Tier 1 leverage ratio of 8.00%.

An Indian man, Hasvardhan Jain, was arrested for allegedly operating a fake embassy near New Delhi. He is accused of defrauding people with false overseas job offers and suspected money laundering. Jain posed as a “Baron” and ambassador of the micronation Westarctica, fabricating documents and possessing cash, diplomatic plates, and doctored photos with world leaders. The fake embassy contained nearly $55,000 in cash and other falsified credentials. Westarctica, an unrecognized entity, highlights the unusual aspects of international relations.

Toll Brothers is launching its Lady Bird model home in the Headwaters community in Dripping Springs, Texas, on July 26, 2025. The development features luxury single-family homes from the upper $400,000s, ranging from 1,913 to 3,555 sq ft, with 3-5 bedrooms. Residents can enjoy amenities like a resort-style clubhouse, pool, fitness center, and over 1,000 acres of open space. Located in the Dripping Springs Independent School District, buyers can personalize homes at the Toll Brothers Design Studio. Move-in ready options are available.

JD.com launched Seven Fresh Kitchen in Beijing, a new approach to food delivery amid intense market competition. It licenses signature dishes from established restaurants, handling ingredient sourcing, preparation, and delivery. This aims to address consumer concerns over “ghost kitchens” by providing transparent kitchens and focusing on quality. By partnering with restaurants and ensuring their profitability, JD.com leverages its supply chain and brand reputation to offer reliable, high-quality takeout, potentially changing the dynamics of the online food market. Initial response indicates strong consumer demand.

Meituan’s Pinhão delivery platform launches the “Million Kitchen Showcase” to enhance food safety and transparency. The initiative partners with 200,000 merchants, providing consumers real-time kitchen access via images, texts, and live streams. Meituan aims to encourage one million merchants to adopt “open kitchen” setups, offering support and subsidies for live streaming. Pinhão now features storefront, dining area, and kitchen images alongside menus. Nearly 300,000 merchants already uploaded these visuals. Pinhão, with over one million merchants and 35 million daily orders, features more than 5,000 established restaurant brands.

Martin Marietta Materials (NYSE:MLM) will release its Q2 2025 earnings before market open on Thursday, August 7, 2025. A conference call will follow at 10:00 a.m. Eastern Time, accessible via live webcast on the company’s investor relations website. Martin Marietta operates in 28 states, Canada, and The Bahamas, producing aggregates, cement, ready-mixed concrete, and asphalt. Their Magnesia Specialties division also manufactures magnesia and dolomitic lime products.