Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
Citi starts 30-day catalyst watch on Horizon Robotics after VW deal
Edgen Stock·Jul 23 2026, 07:34Share to
Share to
Copy link
[1] ＜Research＞ Citi: HORIZONROBOT-W (09660.HK) Deepens Cooperation with Volkswagen Group, Launches 30-Day Positive Catalyst Watch (https://www.aastocks.com/en/stocks/news/aafn- ...)[2] Volkswagen's CARIZON and Horizon Robotics deepen self-driving partnership in China (https://www.msn.com/en-us/money/markets/volks ...)
Related News
Jul 23 2026, 09:09
Texas Instruments, STMicro slide as analog chip earnings fall short
**Analog semiconductor stocks tumbled Thursday after Texas Instruments and STMicroelectronics delivered strong second-quarter results that still failed to meet the elevated expectations baked into their share prices.** Texas Instruments shares fell and STMicroelectronics stock plunged after both analog chipmakers reported robust demand in the second quarter but disappointed investors who had anticipated even stronger numbers. The selloff spread across the analog semiconductor sector as traders reassessed valuation levels that had been built on expectations of a sustained cyclical recovery. "Both companies delivered solid operational performance, but the market had already priced in perfection," said Rachel Kim, semiconductor analyst at Edgen. "When the actual numbers came in merely good rather than exceptional, there was nowhere for the stock to go but down." Texas Instruments, the largest US analog chipmaker, reported second-quarter revenue that beat consensus estimates, driven by strength in automotive and industrial end markets. The company also issued third-quarter revenue guidance in a range of $5.65 billion to $6.15 billion, according to the company's forecast. Despite the beat-and-raise quarter, shares declined as investors focused on the narrow margin of the beat and the possibility that inventory normalization in the channel could pressure near-term growth. STMicroelectronics, the European analog and automotive chipmaker, saw its stock fall more sharply than its US peer. The company reported strong demand across its automotive and power semiconductor divisions, but the market's reaction suggested expectations had run ahead of what the company could deliver. STMicroelectronics shares have been under pressure as the automotive semiconductor cycle shows signs of peaking in certain end markets. The disconnect between strong operational results and negative stock reactions highlights a dynamic that has become increasingly common in the semiconductor sector: companies are delivering solid growth, but share prices already reflect those gains and more. Analog chip stocks had rallied sharply in the months leading up to earnings, pricing in a recovery in industrial demand and stabilizing inventory levels across the supply chain. Texas Instruments, which trades on the Nasdaq, and STMicroelectronics, listed on Euronext Paris and the New York Stock Exchange, are among the largest pure-play analog semiconductor companies. Their results are closely watched as bellwethers for the broader chip industry because analog chips — which manage power, temperature, and signal processing — are used across virtually every electronic device, from cars to factory equipment to smartphones. The selloff raises questions about whether other semiconductor companies with similar exposure to automotive and industrial end markets could face the same dynamic when they report results. Analog chipmakers have been among the biggest beneficiaries of the post-pandemic recovery in chip demand, but the market's reaction to Texas Instruments and STMicroelectronics suggests that the bar for continued outperformance has risen significantly. For investors, the key question is whether this is a temporary repricing or the beginning of a broader correction in analog semiconductor valuations. If inventory levels in the channel begin to rise — a pattern that has historically preceded downturns in the chip cycle — the sector could face further headwinds. Texas Instruments' own commentary on inventory trends will be scrutinized for signs of whether the company sees the current demand environment as sustainable. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 09:07
Ford and Geely form JV to build 4 new models at Spain plant
Ford Motor Co. and Geely Automobile Holdings agreed to form a manufacturing joint venture at Ford's Valencia, Spain plant, pooling production to build four new multi-energy models starting in 2028 as European automakers race to match the cost structure of Chinese rivals. The partnership, announced Thursday, gives Ford a path to fill its underused Almussafes facility — running at less than a quarter of its 500,000-vehicle annual capacity — while handing Geely a manufacturing foothold inside the European Union that bypasses tariffs on Chinese-built EVs. Ford will own 66% of the venture and Geely 34%, with operations expected to begin in the first half of 2027. "This JV with Ford in Europe reflects our commitment to open, collaborative product development as part of our growth strategy, deepening our local presence and commitment to customers in Europe," Alex Nan, vice president of Geely Auto Group, said in a statement. "We are dedicated to delivering vehicles that European customers will choose on merit." The venture will produce an all-new multi-energy crossover designed by Ford and jointly developed with Geely, plus a compact Bronco SUV built for European roads, alongside two electric Geely SUVs. The first Geely-branded model is expected to be the EX2, an affordable electric hatchback that was China's best-selling new car last year, according to Spanish newspaper ABC. Production of Ford's Kuga plug-in hybrid will continue uninterrupted. The deal addresses a structural problem shared by many legacy automakers in Europe: factories built for volume that no longer exists. Ford's Valencia plant, which opened in 1976 to build the original Fiesta, has seen its model lineup shrink to essentially one nameplate — the Kuga — as the company phased out the Mondeo, Focus and Fiesta across Europe. By sharing the plant with Geely, Ford can spread fixed costs across a larger production base while gaining access to Geely's electric-vehicle platform technology. For Geely, the venture provides a hedge against the European Commission's tariffs on Chinese EVs, which added as much as 45% to the cost of imported vehicles. The Hangzhou-based automaker, which owns Volvo, Polestar and Lotus, sold 474,228 vehicles overseas in the first half of 2026. It reported 2025 global sales of 3 million units, up 39% year over year, with new-energy vehicles accounting for 1.7 million of those deliveries. **Why Spain Won the Factory** Spain has emerged as Europe's most welcoming destination for Chinese automakers seeking to avoid tariffs. Unlike Germany or Italy, the country lacks a dominant homegrown car brand and has actively courted foreign investment. Chery is already working with Spanish company Ebro at a former Nissan plant in Barcelona, while BAIC has partnered with local firm Santana to build off-road vehicles in Andalusia. Stellantis is establishing a battery factory with Chinese battery giant CATL in Zaragoza. Spanish Prime Minister Pedro Sanchez played a central role in brokering the Ford-Geely deal, which secures thousands of jobs at a plant that had faced an uncertain future. The Valencia facility has been a cornerstone of Spain's automotive industry since Ford became the first non-Spanish automaker to build there in 1976. "This partnership shows how automakers are strengthening Europe's industrial base, but we can't do it alone," Jim Baumbick, president of Ford of Europe, said. "What we've achieved in Valencia, with the ongoing support of Spain's national and regional governments, is a masterclass in public-private partnership." **What It Means for Investors** The joint venture reshapes the competitive landscape for multi-energy vehicles in Europe. Ford gains access to Geely's cost-efficient platform architecture — the same underlying technology that powers the EX2 — potentially allowing it to accelerate its own EV lineup without the full burden of platform development costs. The company plans to bring five new passenger vehicles to European showrooms by 2029. Geely, meanwhile, secures a production base in the world's second-largest EV market by volume, with the ability to scale quickly if demand materializes. The venture also deepens a relationship that began in 2010, when Ford sold Volvo Cars to Geely and watched the Swedish brand regain its footing under Chinese ownership. The broader implication for the European auto industry is clear: the cost benchmark for manufacturing has shifted. Legacy automakers that cannot fill their factories or match the cost structure of Chinese competitors will face pressure to form similar partnerships. Ford's Valencia plant, once at risk of becoming a stranded asset, now serves as a template for how traditional automakers can adapt — by sharing the factory floor with the competition. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 09:07
InterDigital wins 2nd UPC injunction against Disney on HEVC patents
InterDigital secured a second pan-European injunction against Disney for infringing HEVC video encoding patents, strengthening its hand in licensing negotiations with the streaming giant. "Encoding for HEVC is a key component of the high-quality, premium viewing experience that streaming companies like Disney use to justify higher subscription prices," Josh Schmidt, chief legal officer at InterDigital, said. The Düsseldorf Local Division of the Unified Patent Court ruled the patent valid and infringed, issuing an injunction spanning 11 EU countries including France, Germany and Italy. Disney can appeal. The ruling follows a prior UPC injunction on a separate HEVC encoding patent and additional injunctions from courts in Germany and Brazil covering HDR technology, video casting and compression technologies related to HEVC and AVC. The multi-country injunctions threaten Disney's European streaming operations, potentially disrupting Disney+ and other services that rely on HEVC encoding. For InterDigital, the rulings reinforce its ability to enforce patent rights across multiple jurisdictions and could accelerate a licensing agreement with Disney. InterDigital, founded in 1972 and listed on Nasdaq, is a research and development company focused on wireless, video and artificial intelligence technologies. It generates revenue primarily through licensing its patent portfolio to companies across wireless communications, consumer electronics, IoT devices and video streaming services. The company has invested heavily in advanced video encoding technologies and has pursued multiple legal actions against Disney across European and Brazilian courts. The UPC, a pan-European patent court established to streamline patent litigation across the EU, has emerged as a potent forum for patent holders seeking multi-country injunctions. Its decisions apply automatically across participating member states, giving patentees like InterDigital a powerful enforcement tool that national courts cannot match individually. Disney's ability to appeal leaves the final outcome uncertain, but the accumulating injunctions increase pressure on the company to reach a licensing settlement. This article is for informational purposes only and does not constitute investment advice.