STMicroelectronics Shares Climb 8% Over Strategic Collaboration With Amazon Web Services

(RTTNews) - Shares of STMicroelectronics N.V. (STM) are climbing roughly 8 percent on Monday morning trading following a wider strategic collaboration with Amazon Web Services under a multi-year, multi-billion dollar commercial agreement, which includes several product categories.

The company's stock is currently trading at $32.47, up 8.76 percent or $2.64, over the previous close of $29.83 on the New York Stock Exchange. It has traded between $17.25 and $33.47 in the past one year.

In connection with the expanded relationship, STMicroelectronics has issued warrants to AWS for the purchase of up to 24.8 million ordinary shares.