Stellantis NV (NYSE:STLA, EPA:STLA) announced that it has temporarily suspended operations at its Windsor Assembly Plant in Ontario, Canada, for two weeks starting April 7 as a direct response to US president Donald Trump's newly imposed 25% tariffs on imported vehicles and auto parts.
The automaker has also halted operations at its Toluca Assembly Plant in Mexico for the month of April, it was revealed on Thursday.
The Goodyear Tire & Rubber Company (NASDAQ:GT) shares climbed almost 15% higher due to its favorable positioning as consumer pivot to domestic products due to US president Donald Trump’s new tariffs.
While Trump's tariffs impose a 25% levy on auto imports, tires are not directly affected.
Shares of the “Magnificent 7” - Apple, Microsoft, Amazon, Alphabet, Meta Platforms, Nvidia, and Tesla - fell sharply following US President Donald Trump’s sweeping tariff announcement.
Apple Inc (NASDAQ:AAPL, ETR:APC) took the hardest hit, down 8.8% at $204, as its reliance on Chinese and Southeast Asian manufacturing puts it at direct risk. With tariffs on Chinese imports set at 54% and Vietnam at 46%, Apple’s production costs will rise sharply.
Aldeyra Therapeutics (NASDAQ:ALDX) shares plummeted more than 70% after the biotechnology company received a letter of refusal from the Food and Drug Administration (FDA) for its investigational dry eye disease therapy reproxalap.
The company said the rejection was based on insufficient evidence of efficacy in treating ocular symptoms associated with dry eye disease.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has reported progress in securing offtake-linked financing to support the restart of operations at the Mallay Silver Mine in Peru.
The company said it has received multiple non-binding proposals from leading trading houses for zinc and lead concentrate offtake agreements.
RH (NYSE:RH), formerly Restoration Hardware, shares plummeted more than 40% as the luxury homewares brand’s quarterly earnings disappointed, exacerbated by concerns about how Donald Trump’s new “reciprocal” tariffs will impact the brand.
For the fourth quarter, RH's earnings per share of $1.58 were short of the $1.91 expected.
AppLovin Corp (NASDAQ:APP), a mobile technology company, has reportedly entered the race to acquire TikTok’s United States operations.
TikTok’s China-based owner Bytedance has until Saturday to divest its American business or face a ban in the country due to national security concerns.
Apple Inc (NASDAQ:AAPL, ETR:APC) shares dropped 7.5% in premarket trading on Thursday as investors reacted to concerns over new US tariffs on Chinese imports.
Analysts at Jefferies warn of a potential hit to the company's profits if exemptions are not granted.