Nvidia: New hurdles for exports to China cost billions + Sartorius starts the year with growth + Salzgitter slumps
Nvidia $NVDA (+4.28%): New hurdles for exports to China cost billions
- With stricter restrictions on the supply of AI chips to China, the US government is causing semiconductor giant Nvidia losses running into billions.
- According to Nvidia, the company will record a charge of 5.5 billion dollars in connection with inventories and purchase commitments.
- Even under the previous president Joe Biden, the USA created hurdles for the sale of the most modern high-performance chips to China.
- As a result, Nvidia was only able to supply Chinese companies with a slimmed-down and slower version called H20.
- However, even these chip systems are now subject to export restrictions due to the trade policy of Biden's successor Donald Trump, as Nvidia announced.
- The company's chips have become key technology for the booming artificial intelligence business.
- Chinese AI developers cannot ignore them either.
- There has been speculation for some time about a tightening of export restrictions.
- As a result, Chinese companies such as Tiktok owner Bytedance, Alibaba and Tencent ordered H20 chips worth at least 16 billion dollars from Nvidia in the first three months of this year alone, the website "The Information" recently reported.
- This exceeded Nvidia's previous production capacity for this version, according to reports citing informed persons.
Sartorius $SRT (+0.83%)starts the year with growth
- The laboratory and pharmaceutical supplier Sartorius has increased sales and profits in the first quarter.
- The company was therefore confident about the current year and provided a concrete outlook.
- The DAX-listed company announced in Göttingen on Wednesday that sales revenue is set to increase by around 6 percent in 2025.
- The larger Bioprocess division in particular is expected to contribute to this growth.
- Around 29 to 30 percent (previous year: 28.0 percent) of turnover is expected to remain in the Group as adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).
- Possible effects from customs duties are not included in the margin forecast.
- In the first quarter, turnover increased by almost 8% year-on-year to 883 million euros.
- Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by around 12 percent to 263 million euros.
- The corresponding margin improved from 28.6 percent in the previous year to 29.8 percent.
- The results were therefore better than analysts had expected on average.
- Adjusted net profit rose by a good fifth to just under 85 million euros.
Salzgitter $SZG (+2.16%)plummets - downgrade after takeover called off
- Salzgitter's canceled takeover by a consortium has increased the pressure on the steel manufacturer's shares.
- After the shares had already fallen by 0.8 percent at the beginning of the week, they were down 7.1 percent to just over 22 euros on Tuesday.
- A skeptical analyst commentary by the investment bank Oddo BHF proved to be a burden.
- Salzgitter shares were thus by far the weakest stock in the SDax .
- The second-line index gained a good 1 percent.
- Salzgitter announced on Friday evening that it had ended talks with the bidding companies GP Günter Papenburg and TSR Recycling.
- The steel manufacturer cited "significantly different ideas about the current and future value of the company" as the reason.
- According to earlier information, the consortium had submitted a non-binding offer of around EUR 18.50 per share.
- Analyst Krishan Agarwal from the US bank Citigroup wrote that the offer price was probably a key factor in the break-off.
- There had been greater agreement between the parties regarding the future strategic direction of the steel group.
- Analysts at Oddo downgraded Salzgitter shares to "underperform".
- In this respect, the experts expect the shares to underperform the corresponding benchmark index over the next twelve months.
- Without the takeover hopes, the Salzgitter shares are valued too high, Oddo said.
- This applies even if possible proceeds from the sale of non-core activities are taken into account.
- The slide in the share price on Tuesday further clouded the chart picture.
- The shares slipped below the 50-day average line, which describes the medium-term trend.
- Since the beginning of the year, however, the share price has still risen by almost 40 percent.
Wednesday: Stock market dates, economic data, quarterly figures
Stock exchange trading in Norway shortened
- ex-dividend of individual stocks
- Austrian Post EUR 1.83
- Quarterly figures / company dates USA / Asia
- 13:00 Travelers Cos quarterly figures
- 13:30 Abbott Laboratories quarterly figures
- 16:00 United Airlines quarterly figures
- 22:10 Alcoa quarterly figures
- 22:30 BHP Group Ltd Operation Report 9 months
- Quarterly figures / Company dates Europe
- 00:30 Rio Tinto Q1 sales
- 07:00 Sartorius quarterly figures | Hella Q1 sales
- 07:00 ABN Amro Pre close Announcement 1Q
- 08:00 Heineken Trading Update 1Q
- 09:00 Sartorius PK
- 13:00 Sartorius Analyst Conference
- 14:30 Nestle AGM
- Economic data
08:00 UK: Consumer prices March Forecast: +0.5% yoy/+2.7% yoy Previous: +0.4% yoy/+2.8% yoy Core Forecast: +0.5% yoy/+3.4% yoy Previous: +0.4% yoy/+3.5% yoy
11:00 EU: Consumer Prices March Eurozone PROGNOSE: +0.6% yoy/+2.2% yoy PREVIEW: +0.6% yoy/+2.2% yoy PREVIEW: +0.4% yoy/+2.3% yoy CORE RATE PROGNOSE: +1.0% yoy/+2.4% yoy PREVIEW: +1.0% yoy/+2.4% yoy PREVIEW: +0.5% yoy/+2.6% yoy
14:30 US: Retail Sales March FORECAST: +1.2% yoy previous: +0.2% yoy Retail Sales ex Motor Vehicles FORECAST: +0.3% yoy previous: +0.3% yoy
15:15 US: Industrial Production and Capacity Utilization March Industrial Production PROGNOSE: -0.1% yoy previous: +0.7% yoy Capacity utilization PROGNOSE: 77.9% previous: 78.2%
15:45 CA :Bank of Canada, Monetary Policy Council Overnight Rate Results PROGNOSE: 2.75% previous: 2.75%
16:00 US: Inventories February PROGNOSE: +0.3% yoy previous: +0.3% yoy
