Stock Movers: Puma, Filtronic, Broadcom All Down
On this episode of Stock Movers: - Puma and Adidas fall as European athleisure stocks under-perform on Lululemon posting a second straight disappointing quarter, fueling concerns around the impact of rising competition and new tariffs. - Filtronic, a components maker who produce modules for SpaceX's Starlink, has been caught in the Musk-Trump crossfire. - Broadcom, a chip supplier to companies like Alphabet and Apple, gave a lackluster revenue forecast for the current quarter, suggesting that the AI spending frenzy isn't as strong as some investors anticipated.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
EU plan would limit Chinese device makers in Europe
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. European Union member states this week voted to support a plan to adopt measures that would restrict Chinese medical device makers' access to the EU market. The member states took the action, under the EU's International Procurement Instrument, after concluding an investigation in January that looked at China's practices in the public procurement market for medical devices. The investigation found that government practices unfairly encouraged Chinese hospitals to choose domestic manufacturers' products. 'The Commission has identified measures and practices in the Chinese procurement market that lead to discrimination against EU operators and EU-made supplies,' Olof Gill, commission spokesperson, said Thursday in an emailed statement. 'This discrimination also harms both the Chinese healthcare infrastructure, which is deprived of quality equipment, and EU businesses, with a high cost in terms of jobs and economic activity in the EU.' The commission has discussed its concerns with Chinese authorities. However, a satisfactory solution has not been proposed, and the EU had no other option than to tackle the issue through an IPI investigation, Gill wrote. The commission said it could not disclose the content of the draft IPI measure or next steps in the process. Chinese manufacturers would be prohibited from bidding on public procurement contracts worth more than 5 million euros for five years. In addition, no more than 50% of a contract's value may be subcontracted to Chinese entities or include Chinese-origin medical devices, MedTech Europe said in a statement. The trade group said it would provide further updates once the IPI measures are published in the EU's official journal. The EU investigation into China's medical device procurement practices was the first use of the IPI, which was introduced in 2022. Getting fair access to Chinese markets became more challenging for medical device companies after the country launched a program calling for domestically produced medical equipment to achieve 50% market penetration in county-level hospitals by 2020 and 70% by 2025, according to a statement from the European Chamber, which represents European businesses in China. European and Chinese leaders will meet in July at a summit in Beijing. Recommended Reading EU mulls retaliation after showing China's bias against foreign device firms Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
22 minutes ago
- Bloomberg
Austria Rating Cut to Record Low by Fitch as Budget Woes Persist
Austria 's sovereign credit was cut by Fitch Ratings to two steps below the top mark for the first time, handing the government another setback in its bid to repair the country's finances. Fitch lowered Austria's rating to AA with a stable outlook from AA+, according to a statement Friday. Austria's deficit was higher than forecast 'driven by a worse economic environment and overspending at the local government and municipality level,' the ratings firm said.
Yahoo
22 minutes ago
- Yahoo
Right to Repair? Army secretary pushes for access to tools, parts
(NewsNation) — The Right to Repair is gaining a ton of momentum across the country. Earlier this month, Army Secretary Daniel Driscoll committed to including right-to-repair provisions in all existing and future contracts with manufacturers. Right to Repair is a legal right for owners of devices and equipment to freely modify and repair products such as automobiles, electronics, and farm equipment. Presently, the Army has committed to securing right-to-repair provisions in contracts. Sen. Elizabeth Warren, D-Mass., is advocating for other military branches to adopt the requirement, addressing the long-standing repairability problems across the armed forces. Spyware suspected on iPhones of US, EU political figures: Report 'The Army's commitment to Right to Repair shows other industries that they can do the same,' she says. Last month in Washington, the Right to Repair became law after advocates had spent years trying to get it passed. In addition, a wheelchair bill in New York has also advanced, while a new bill has been introduced in Pennsylvania that covers consumer and business electronics. In 2025, 35 states — up from 30 last year — have considered Right to Repair legislation. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
