Lumentum Leads Optical Peers Higher; Sun Pharma Shares Fall; Porsche Sales Tumble
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Show Notes
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nvidia-backed Lumentum Holdings (LITE) is leading gains among optical-components makers as the firm said demand from the biggest US tech companies is accelerating.
- Sun Pharmaceutical (SUNP) shares fall after the Economic Times reported the company is set to make a $12 billion offer for debt-ridden US company Organon & Co.
- Porsche's (P911 GY) first-quarter sales fell after a steep drop in China, where luxury spending remains subdued, compounding pressure from model transitions and slowing demand for electrified cars in the US.
Global deliveries slumped 15% in the period, dragged down by a 21% decline in China, Porsche said Friday. European luxury brands are grappling with fierce local competition and an erosion in pricing power in the worlds’ biggest car market.
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