Luxury Tariff Fears, Infineon, Repsol Down
On this episode of Stock Movers:
- It is currently difficult to call the valuation bottom for the European luxury sector due to limited visibility on earnings from tariffs impact and how that will impact global demand, JPMorgan writes in note as downgrades Pandora to neutral.
- Infineon Technologies AG signed a deal to buy Marvell Technology Inc.’s automotive networking business for $2.5 billion in an all-cash deal to strengthen its industry-leading car unit.
- Repsol shares pare early gains Tuesday after its 1Q upstream production missed analyst estimates on lower refining margin, weaker utilization rates amid maintenance works. Analysts expect a cut to consensus. Stock trades 0.2% higher after rising as much as 4.5%.
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