Twelve US states file lawsuits against Trump's tariff policy + Hapag-Lloyd registers cancellations between China and the US + Tonner Drones is pleased to announce a new patent in the US + Aurubis defies Exane downgrade thanks to economic hopes

Twelve US states file lawsuits against Trump's tariff policy

• A dozen US states have filed a lawsuit against President Donald Trump's "unlawful" tariffs at the Court of International Trade in New York.
• With his arbitrarily levied duties, the president has "overturned the constitutional order and plunged the American economy into chaos", according to the lawsuit.
• According to the US Constitution, the power to levy taxes, tariffs and duties lies with Congress, not the President, the plaintiffs argue.
• National trade policy should not depend on his whims.
• The Democratic states of Oregon, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, New Mexico, New York and Vermont and the Republican states of Arizona and Nevada have sued.
• Since the tariffs are illegal, the court should overrule them, they demand according to the lawsuit...
• https://www.finanznachrichten.de/nachrichten-2025-04/65194874-zwoelf-us-bundesstaaten-klagen-gegen-trumps-zollpolitik-016.htm

Hapag-Lloyd $HLAG (+0,7%)registers cancelations between China and the USA

• Germany's largest container shipping company Hapag-Lloyd is struggling in the trade dispute between the USA and the People's Republic of China.
• Around 30 percent of bookings from China to the USA have been canceled, a spokesman said on Wednesday.
• At the same time, the shipping company is registering "massive growth" in demand from Thailand, Cambodia and Vietnam...
• https://www.onvista.de/news/2025/04-23-hapag-lloyd-registriert-stornierungen-zwischen-china-und-den-usa-0-20-26381572

Tonner Drones $ALDR (-3,47%)announces that its patent for the inhibitor has been granted in the USA

• Tonner Drones owns the technology for an anti-recoil activation mechanism. The company now holds patents in Australia, the United Kingdom, Europe (including Germany) and the United States of America.
• Tonner Drones is actively seeking IP agencies to commercialize its patents through collaboration or sale of the technology.
• Tonner Drones itself has no ambitions to further develop the product, but sees great value in the patents given the new dynamics in Europe regarding defense spending.

Aurubis $NDA (-0,36%)defies Exane downgrade thanks to economic hopes

• Aurubis shares defied a skeptical analyst commentary from Exane BNP Paribas on Wednesday with a tailwind from economic hopes.
• The copper company's shares had risen by 1.8 percent to 77.20 euros by midday, slightly outperforming the firm MDax.
• The share price benefited from a continued recovery in the price of copper.
• The industrial metal was in demand as economic concerns eased after the US government held out the prospect of some de-escalation in the tariff dispute with China.
• However, Exane-BNP analyst Alan Spence had lowered the price target from 71 to 60 euros, which is more than a fifth below the current price.
• He has accordingly downgraded Aurubis shares to "underperform".
• With a price target of 58 euros, only one analyst, the private bank Hauck & Aufhäuser, is currently more cautiously positioned.
• At the end of March, the Aurubis share price had risen to around 96 euros, its highest level for around two years.
• However, the international trade dispute triggered by the USA then dragged the shares down to just over 71 euros within a few days.
• Economic concerns dampened the expectations of many investors with regard to demand for commodities such as copper and other industrial metals

Thursday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• LVMH Moet Hennessy Louis Vuitton EUR 7.50
• ING Group EUR 0.71
• Christian Dior EUR 7.50

• Quarterly figures / company dates USA / Asia
• 07:00 Hyundai quarterly figures sales 1Q
• 07:30 LG Electronics quarterly figures
• 12:00 Pepsico | Comcast | Dow quarterly figures
• 12:30 Merck & Co | Southwest Airlines | Valero Energy | Hasbro quarterly figures
• 12:55 Procter & Gamble quarterly figures
• 13:00 American Airlines | Bristol Myers Squibb Quarterly Results
• 14:00 Delivery Hero Earnings Call
• 15:00 Pfizer | Boeing AGM
• 22:00 Intel | Weyerhaeuser quarterly figures
• 22:05 Alphabet | Verisign quarterly figures
• 22:30 T-Mobile US quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 Kühne & Nagel | Roche | Nokia | BNP Paribas | STMicroelectronic | Vossloh
• 07:00 Renault quarterly figures | Nestle 1Q sales
• 07:30 Air Liquide | Delivery Hero | Sanofi | Orange | KPN quarterly figures
• 07:45 Eni SpA quarterly figures
• 08:00 Unilever Trading Statement 1Q | Relx AGM and Trading Update 1Q
• 10:00 Schaeffle AGM
• 10:30 Nestle Analyst Conference
• 14:00 Delivery Hero Earnings Call
• 14:30 Danone AGM
• 17:45 Vinci quarterly figures | Michelin | Carrefour 1Q sales
• 18:05 Saint-Gobain 1Q sales

• Economic data

10:00 DE: Ifo Business Climate Index April PROGNOSE: 85.1 PREVIOUS: 86.7 Situation assessment PROGNOSE: 85.7 PREVIOUS: 85.7 Business expectations PROGNOSE: 84.5 PREVIOUS: 87.7

12:00 DE: Bundesbank monthly report

14:00 US: ECB Governing Council member Nagel, press breakfast at IMF Spring Meetings

14:30 US: Durable Goods Orders March FORECAST: +1.6% yoy previous: +1.0% yoy | Chicago Fed National Activity Index (CFNAI) March

14:30 US: Initial jobless claims (week) FORECAST: 220,000 Previous: 214,000

15:00 BE: Business Climate Index April FORECAST: n/a previous: -15.1

16:00 US: NAR, Existing Home Sales March FORECAST: -3.8% yoy previous: +2.0% yoy

18:30 US: IMF and World Bank Spring Meetings, G-20 press conference

No time specified:

- BE: EU Commission President Von der Leyen, meeting with UK Prime Minister Starmer

- US: US President Trump, meeting with Norway's Prime Minister Store

Tesla shares fall by more than 15 percent in one day + Tonner drones accelerate commercial development of INHIBITOR solution + Redcare hopes for strong sales growth + Henkel to invest one billion euros in share buyback + Deutsche Börse at record high + Apple has to work longer on new AI-Siri

Tesla share $TSLA (+10,24%)falls by more than 15 percent in one day

• The share price of Tesla, the electric car manufacturer led by Elon Musk, fell by more than 15 percent to 222 dollars on Monday, thus losing the last gains made after the US presidential election in November.
• Prior to the accelerated share price losses on Monday, another analyst had lowered the forecast for Tesla deliveries.
• The share price fell a further three percent after the close of trading.
• Since the record high in mid-December, the drop now amounts to more than 50 percent.
• Musk had become a close ally of the ultimately victorious Republican Donald Trump during the US election campaign.
• Following his triumph in the presidential election, Tesla shares soared.
• At its peak in mid-December, it was worth around twice as much as on election day on November 4.
• A downward slide then set in, which recently became steeper.
• After the share price plummeted, Trump claimed that "radical left-wing lunatics" were boycotting Tesla in order to harm Musk.
• He would buy a Tesla car on Tuesday as a sign of support for the "great American" Musk, the US President announced via the online platform Truth Social.

Tonner drones $ALDR (-3,47%)accelerates the commercial development of the INHIBITOR solution

• Tonner Drones ("the Company") announces that it is intensifying its efforts to commercialize its Inhibitor product.
• Tonner Drones holds valuable patents for stabilizing drones and counteracting the recoil effect.
• This technology can significantly improve the operation of drones after a target has been shot down.
• In light of the global increase in defense spending, Tonner Drones would like to take this opportunity to generate interest in the inhibitor patents from the parties.
• While Tonner Drones itself has no ambitions to develop the product, the company aims to optimize the value of the patents through sales or licensing agreements.

Redcare $RDC (-0,7%)hopes for strong sales growth

• The online pharmacy Redcare Pharmacy (formerly Shop Apotheke) is also aiming for strong growth in the current year.
• The MDax-listed company announced in Sevenum on Tuesday that sales are set to increase by at least a quarter.
• Based on sales of just under 2.4 billion euros last year, this would be 3.0 billion euros in the worst-case scenario, which is roughly what analysts surveyed by Bloomberg have in mind.
• In terms of profitability, however, the Dutch company could possibly disappoint again: The margin for adjusted earnings before interest, taxes, depreciation and amortization (ber EBITDA) is expected to improve slightly to between 2 and 2.5 percent.
• Analysts currently expect 2.3 percent. Redcare had already announced turnover figures in January.
• These have now been confirmed. The adjusted operating result fell by more than a third to 33.3 million euros, with the margin more than halving to 1.4 percent.
• The market had been expecting a less severe decline.
• In the final quarter, Redcare was even in the red in its day-to-day business.
• And the bottom line for shareholders in 2024 was again a loss: it increased to 45 million euros, compared to minus 12 million euros in 2023.

Henkel $HEN (-0,04%)wants to invest one billion euros in share buyback

• The consumer goods group Henkel has announced that it will buy back its own shares for up to one billion euros.
• The Dax-listed preference shares worth up to 800 million euros are to be acquired, as the company announced on Tuesday shortly before the announced presentation of the annual figures in Düsseldorf.
• The remaining 200 million euros are to be invested in the purchase of ordinary shares.
• "Based on the current share price, this corresponds to around 2.7 percent of the company's share capital."
• Henkel shares have significantly lagged behind the DAX in recent years.
• The company currently has a market capitalization of just under 36 billion euros.

German stock exchange $DB1 (+0,76%)at record high

• In a weak overall market, Deutsche Börse shares reached another record high on Monday.
• The increasing price fluctuations on the financial markets are likely to keep investors on their toes and ensure good turnover for stock exchange operators.
• The shares of the stock exchange operator rose by 2.9 percent to 264.80 euros at the peak in the afternoon.
• Deutsche Börse shares have climbed by almost 20 percent since the beginning of the year.
• The shares of counterparty Euronext had reached a high on Thursday.
• Not least the political developments since the election of Donald Trump as US President and his erratic actions are likely to force investors to constantly adjust their portfolios - with positive consequences for exchange operators.
• According to analyst Jochen Schmitt from Metzler Bank, turnover in interest rate products on the Eurex derivatives exchange and in cash trading on Xetra increased in January and February compared to the previous year.
• Deutsche Börse should benefit from the favorable capital market environment.
• Economies of scale would benefit the results, as the cost base is strongly determined by fixed costs.

Apple $AAPL (+0,28%)has to work longer on new AI-Siri

• Setback for Apple in the AI race with other tech giants: The iPhone company is taking longer than planned to develop its improved assistance software Siri.
• The new far-reaching functions with artificial intelligence will not be available until "next year", an Apple spokesperson told the website "Daring Fireball".
• The function was generally expected to be available this spring.
• Apple's plan is for the future Siri to be particularly helpful for users because the software has access to users' personal information and can be active across different apps.
• Rivals such as Google and Samsung also want to establish such functions in the everyday lives of users of their devices and software.
• Amazon will soon be opening advance access to an AI version of its Alexa assistance software in the USA. Apple has summarized its new AI offerings under the name "Apple Intelligence".
• So far, the software can reword and summarize texts and create new emoji from user descriptions, among other things.
• The first functions of "Apple Intelligence" are set to appear in Germany in April.
• The company is focusing on AI functions in the marketing of its current iPhone generation.

Tuesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Novartis CHF 3.50
• Qantas Airways 0.10 AUD
• Spire 0.79 USD

• Quarterly figures / company dates USA / Asia
• 19:00 Eaton Investor Conference Call

• Quarterly figures / company dates Europe
• 06:45 Redcare Pharmacy NV, annual results
• 07:30 Gea Group | Henkel | Volkswagen annual results
• 09:00 Henkel Analyst Conference
• 09:30 Gea Group | Volkswagen BI-PK
• 11:00 Henkel BI-PK

Economic data

01:50 JP: GDP (2nd release) 4Q FORECAST: n.a. 1st release: +0.7% yoy previous: +0.4% yoy

08:00 DE: Labor Cost Index 4Q

15:00 US: Job Openings and Labor Turnover Survey (Jolts) January

No time specified:

- BE: Ecofin meeting of EU finance ministers

- CN: China's People's Congress, closing

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