In This Article:
US Steel (X) is declining after President Trump opposed Japanese company Nippon Steel (NPSCY) from buying the US steel manufacturer.
Meanwhile, Prada (1913.HK) will acquire Versace from Capri Holdings (CPRI) for $1.38 billion. The deal is expected to close in late 2025.
Volkswagen (VOW.DE) stock trading in Germany is climbing following Trump's suspension of reciprocal tariffs, even after the company preliminarily reported lower first quarter earnings.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
We're taking a closer look at some trending tickers this morning and we're doing it in 30 seconds each. We're taking a look at US Steel Corp., Prada, and Volkswagen. First up, US steel is falling after President Trump said that he does not want a Japanese company to buy the steel manufacturer. The president said quote, we love Japan, but US steel is a very special company. However, earlier in the week Trump ordered the Committee on Foreign Investment in the US or CFIUS to take another look at the proposed acquisition of US steel by Japanese manufacturer Nippon Steel. The committee failed to reach consensus last year, leading President Biden to block the deal back in January. CFIUS now has a 45-day window to make a recommendation to President Trump.
Plus Prada will acquire Versace from Capri holdings for just under $1.4 billion, the companies say. The deal is expected to close in the second half of 2025, and the announcement comes after the Wall Street Journal reported the deal was at risk due to market volatility and tariff policy uncertainty. Capri owns other high-end brands such as Jimmy Choo and Michael Kors. And the sale of Versace will allow Capri to reduce debt and focus on its other brands, as the luxury sector overall continues to struggle with weak demand.
Finally, Volkswagen shares trading in Germany are rising on President Trump's pause of many reciprocal tariffs. However, the company reported preliminary Q1 results including a drop in earnings due to some one-off costs. Jefferies, which has a buy rating on the stock, is emphasizing these one-time costs, but also notes that tariff impacts aren't fully factored into the automaker's full-year forecast. Bernstein, with a market perform rating, is more cautious, saying they remain skeptical of Volkswagen's restructuring, and says the company is still facing challenges. You could scan the QR code below to track the best and worst performing stocks of the session, to Yahoo Finance's Trending Tickers page.
