Tariffs hamper Big Tech in the US + Apple has to raise prices + E-prescription drives growth of online pharmacy Redcare + Puma replaces boss after disappointing results + Canada imposes counter tariffs on some vehicles from the US
Tariffs hamper big tech in the USA
$AMZN (-3,47%) / $NVDA (-7,25%) / $MSFT (-2,36%)
- The high import tariffs announced by US President Trump on technology equipment from Asia, including 34% on China, 32% on Taiwan and 25% on South Korea, could hinder Big Tech's multi-billion dollar AI infrastructure projects in the US, according to analysts.
- Project Stargate, a $500 billion data center project by OpenAI, SoftBank and Oracle, as well as AI investments by Microsoft, Alphabet and Amazon could be delayed or curtailed as a result.
Apple $AAPL (-6,8%)must raise prices
- Apple faces the choice of absorbing the additional costs or raising iPhone prices by up to 43% due to new US import tariffs of 54% on Chinese goods, according to Rosenblatt Securities.
- Even if Apple were to relocate production to Vietnam or India, it would have to raise prices by at least 30% due to tariffs of 46% and 26% respectively, according to Counterpoint Research.
- Goldman Sachs warns that far-reaching US tariffs will weigh on global growth and force the Federal Reserve to cut interest rates more aggressively than previously expected.
- Ashish Shah, Chief Investment Officer at Goldman Sachs Asset Management, describes this as a growth shock and a burden for US consumers.
E-prescription drives growth of online pharmacy Redcare $RDC (-2,11%)
- The online pharmacy Redcare Pharmacy grew strongly in the first quarter.
- The company continued to benefit from a strong increase in business with electronic prescriptions, particularly in Germany.
- According to a statement on Friday, the company increased its revenue by 28 percent year-on-year to 717 million euros, which was slightly above market estimates.
- In Germany alone, sales of e-prescriptions almost tripled to 108 million euros.
- This key figure is a particular focus for investors and analysts.
- At company level, it reportedly increased by almost 50 percent to 233 million euros.
- However, Redcare continues to generate the lion's share of its business with the sale of non-prescription products.
- Revenues here rose by almost a fifth to 484 million euros.
- The online pharmacy did not disclose earnings figures, but the earnings before interest, taxes, depreciation and amortization (EBITDA) margin "should be positive again," explained CFO Jasper Eenhorst.
- Redcare is "clearly on course" to achieve its annual targets.
- The company plans to publish its full quarterly report on May 6.
Puma $PUM (-2,41%)replaces CEO after disappointing results
- Following a recent disappointing performance, the sporting goods manufacturer Puma is making a change of boss.
- Arne Freundt is stepping down as CEO on April 11 "due to differing views on the implementation of the strategy", the company announced in Herzogenaurach on Thursday.
- The Supervisory Board has appointed Arthur Hoeld as the new Puma CEO from July 1, it said. He was responsible for global sales as a member of the Adidas Executive Board until October 2024.
- Matthias Bäumer, previously Vice President for the Teamsport segment, will also take over the position of Chief Sales Officer from April 1.
- Puma is currently experiencing a huge crunch: after a decline in profits last year, the Adidas competitor is also expecting falling results for 2025.
- Trade tensions, cautious consumers and strong fluctuations in exchange rates are weighing on the Swiss franc, which is massively lagging behind its local rival.
Canada imposes counter-tariffs on some vehicles from the USA
- Canada is responding to US President Donald Trump in the trade war and imposing counter-tariffs on certain vehicle imports from the United States.
- Ottawa will impose 25 percent import duties on all cars not produced under the North American trade pact USMCA, announced Canadian Prime Minister Mark Carney.
- The measures should cause maximum damage to the US economy, but spare the Canadian economy as much as possible.
- Carney emphasized that the United States was no longer a friendly partner for Canada and that the country would defend its interests and sovereignty.
- According to Carney, he had also spoken to the acting Federal Chancellor Olaf Scholz on the phone that morning.
- They discussed strengthening the "diverse trade relations" between the two countries.
- "In light of the crisis caused by President Trump's tariffs, reliable trading partners are more important than ever," Carney wrote on the X platform.
- Trump launched a trade war against neighboring Canada and Mexico shortly after taking office, but has withdrawn some tariffs several times.
- Although Canada was not mentioned in the latest announcements by the US government, tariffs already imposed on the country still apply.
- The Canadian automotive industry is particularly affected.
Friday: Stock market dates, economic data, quarterly figures
Stock market holiday in China and Hong Kong
- ex-dividend of individual stocks
- Aurubis EUR 1.50
- JPMorgan Chase 1.40 USD
- American Express USD 0.82
- Bristol-Myers Squibb USD 0.62
- Quarterly figures / company dates Europe
- 07:00 Sodexo half-year figures
- 11:00 Bawag Group AGM
- No time specified: Banco Santander AGM
- Economic data
08:00 DE: New orders February seasonally adjusted FORECAST: +3.5% yoy previous: -7.0% yoy
08:00 DE: Manufacturing Turnover February | Services Turnover January
08:45 FR: Industrial Production February FORECAST: +0.2% yoy previous: -0.6% yoy
10:00 EUECB Vice-President Luis de Guindos, speaks at Academia Europea Leadership Event
14:30 US: Labor Market Data March Employment ex Agriculture PROGNOSE: +140,000 yoy previous: +151,000 yoy Unemployment rate PROGNOSE: 4.1% previous: 4.1% Average hourly earnings PROGNOSE: +0.3% yoy/+3.9% yoy previous: +0.3% yoy/+4.0% yoy
17:25 US: Fed Chairman Powell, economic outlook speech
No time specified: UK: Governor of the Bank of England, meeting of the Financial Policy Committee
