LG Display, SK Telecom ADR shares down over 6% on NYSE after Trump imposes 25% tariffs on South Korea
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Time of India
23 minutes ago
- Time of India
Trump spares India tariff threat missive as he unloads on allies Japan and South Korea
Donald Trump TOI correspondent from Washington: US President Donald Trump on Monday said Washington is close to clinching a trade deal with India even as he lowered the boom on more than a dozen countries including close allies, while sparing New Delhi. Trump sounded optimistic about an agreement with New Delhi, telling reporters, "We are close to making a deal with India," while repeating his incessant claim that he had stopped an all-out war between India and Pakistan by threatening to cut off access to US markets. Neither country has attributed their truce to tariff threats, but the US President obsessively cites that to illustrate the use of trade as an instrument of American power. On Monday, Trump, by most accounts, brought a wrecking ball to global trade with a tirade against much of the world, which in his view has been ripping of the USA. Fourteen countries, rich and poor, big and small, allies and adversaries, were slammed with tariff warnings ranging from 40 percent to 25 percent unless they negotiated bilateral deals before August 1. India faces the same deadline without the almost identical sloppily-written letters Trump sent to 14 countries, although that could change any time given the US President's mercurial approach to strategic ties. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo New Delhi has bought time mainly on account of protracted trade talks that have been going on for several months and are said to be in an advanced state. India has pledged to buy loads of American arms, energy, and other produce to whittle down the $ 45 billion trade deficit while at the same time seeking to protect its fragile agriculture sector that provides a livelihood to more than half its population. While the negotiating window is now narrow, there is no sign that India will throw in the towel, even as Trump prepares to throw the kitchen sink, as he did on Monday with long time allies Japan and South Korea, both slammed with around 25 per cent tariffs. In letters riddled with random capitalisation and poor grammar and syntax, Trump told the prime minister of Japan, a US treaty ally, that the trade surplus Tokyo has run up against Washington constituted a "major threat" to US national security. Identical letters citing threat to US national security was sent to leaders of Bosnia & Herzogovina (whose female President Zeljka Cvijanović was addressed as Mr President), Cambodia and Bangladesh, which have small trade surpluses with Washington with exports in the paltry billions. Trump and his team also dialled down expectations of "90 deals in 90 days" that they had talked up at the start of the tariff war the US President initiated. Having negotiated only a framework for three sketchy agreements, Trump indicated most other countries would simply get a letter intimating them of tariff increases if they don't conclude an agreement by August 1. "It's all done," he maintained, even as aides acknowledged that instead of the White House phones "ringing off the hook" as they anticipated, many countries had not even contacted them.
Time of India
30 minutes ago
- Time of India
Wolfspeed Stock Price Analysis and Forecast: Market performance, investor outlook, key drivers & risks and analyst insights
Wolfspeed Stock Price Analysis and Forecast is one to watch out for. Wolfspeed Inc (NYSE: WOLF) shares have seen a sharp increase following the announcement of a new Chief Financial Officer and updates on its restructuring plans. The stock has gained investor attention as it navigates bankruptcy proceedings and positions itself for long-term growth. Shares Surge Wolfspeed shares jumped 24.79% to $2.92 in premarket trading on July 8, 2025, after closing at $2.31 in the previous session. This marked a 95.76% rise. The stock had earlier reached $3.19, up 36.9% by Tuesday morning. The surge followed Wolfspeed's announcement of Gregor van Issum as CFO, effective September 1, 2025. The company's stock has struggled over the past year, with a 52-week range of $0.39 to $25.49. The recent rise signals a possible shift in investor confidence. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Most Expensive Cars In The World Undo Why Was Gregor van Issum Hired? Gregor van Issum brings over two decades of experience in corporate restructuring and strategic finance. He has worked with major semiconductor companies including ams-OSRAM AG and NXP Semiconductors N.V. His expertise in cost-saving programs and financial transformation aligns with Wolfspeed's restructuring goals. Van Issum replaces interim CFO Kevin Speirits. His appointment follows the earlier addition of David Emerson as Chief Operating Officer in May 2025, further strengthening Wolfspeed's leadership. Live Events CEO Robert Feurle emphasized van Issum's experience in complex manufacturing and financial leadership. Both executives have worked together previously at ams-OSRAM. Bankruptcy Filing and Debt Reduction Strategy Wolfspeed filed for Chapter 11 bankruptcy in early July. The company aims to reduce its debt by 70%, or around $4.6 billion. This is expected to help the company focus on growth and move toward profitability. Wolfspeed plans to continue operations during restructuring and expects to emerge by the end of Q3 2025. Despite the bankruptcy, Wolfspeed remains committed to delivering silicon carbide materials and devices. The company believes the leadership changes will improve its balance sheet and unlock the potential of its 200mm platform. Also Read: Sullivan's Crossing: Seasons 1 and 2 Netflix US release date, plot and where and how to watch Season 3 Market Performance and Investor Outlook Wolfspeed has a market capitalization of $359.498 million. The trading volume was 434.45 million shares, well above the average of 56.52 million. The stock has a beta of 1.29, showing high volatility. The company reported a negative earnings per share of -$8.26, indicating ongoing profitability challenges. Investors are now watching the upcoming earnings report, expected between August 19 and 25, 2025. Analysts have set a target price of $4.20. If the company executes its transformation plan successfully, long-term shareholders may benefit. However, high risk remains due to potential dilution during the restructuring process. Investor Sentiment and Analyst Views While Wolfspeed shares have rebounded sharply, some analysts remain cautious. The company's debt and bankruptcy status pose risks. The Motley Fool analysts did not include Wolfspeed in their current top 10 stock picks. Still, the market has reacted with optimism, suggesting belief in the new leadership's ability to guide a successful turnaround. Wolfspeed Stock Price Analysis and Forecast Current Performance & Market Behavior Premarket Surge: Wolfspeed shares shot up ~25% to $2.92 on July 8 after jumping 95.76% the previous day—signals strong investor sentiment following leadership announcements. Volatility Profile: Beta of ~1.29, trade volume (~434M shares) heavily outpaced the average (~56.5M), indicating speculative and high-interest trading. Analyst Insights and Price Targets TipRanks (8 analysts): Average 12‑month target of $3.37, with projected range $0.61–$6.00 (≈185% upside). Consensus: Hold (2 Buy, 2 Hold, 4 Sell). MarketBeat (14 analysts): Targets between $3.00–$20.00, averaging $11.15 (≈382% upside). (14 analysts): Average target $10.67 (≈320% upside), range $3–$20. Zacks: Forecasts range $3–$10, representing ~195% upside from recent prices. Growth Forecasts Revenue & EPS Growth: Expected 15.4% annual revenue growth and 52.8% annual EPS growth—well above industry averages (semis: ~22.4%). Industry Perspective: Global silicon carbide is projected to grow ~34.5% annually through 2034—tailwinds for Wolfspeed. Short-Term vs Long-Term Outlook 1–3 months: Technical models expect a drop (~–50%) to $0.10–$1.21, unless bullish catalysts emerge. Next 12 months: Wall Street targets: $3.37–$11.15 median; with high-end potential to $20. Analyst consensus leans Hold. 2025 Q3 Forecast: Q3 EPS around –$0.70 on revenue ≈ $201M (vs $197M LY), highlighting ongoing losses despite sales growth. Also Read: US Stock Markets Gainers Losers: Take a look at biggest stock movers on Tuesday Key Drivers & Risks Drivers Leadership appointments (new CFO, CFO-in) signal strategic financial pivot. Chapter 11 process expected to eliminate ~$4.6B debt (~70%), supported by Apollo and Renesas. Global demand for silicon carbide in EV and power sectors increasing. Risks Continued losses: FY 2024 net loss ~$864M, operating loss ~$445M. Refinancing risk: ~$6.5B debt burden, convertible bonds, and interest rate exposure. Short-term technical outlook weak, barring positive developments. Forecast Summary Short term (3 months): High volatility; technical models signal potential downside to ~$1 or lower. Medium to long term (12 months): Analyst consensus targets ~$3–$11; upside depends on successful bankruptcy exit, debt reduction, and execution of growth strategy. Bull case: Silicon carbide demand + debt clearance → $10+ potential. Bear case: Prolonged restructuring issues, financing barriers, slow EV adoption → under $3. Bottom Line Wolfspeed is in a high-risk, high-reward phase. If it successfully restructures, reduces debt, and scales revenue, analysts see significant upside. However, technical indicators warn of sharp short-term declines. The stock remains a speculative, turnaround play best suited for risk-tolerant investors. FAQs What caused Wolfspeed's stock to rise? Wolfspeed shares surged due to the appointment of Gregor van Issum as CFO and investor optimism about the company's restructuring and debt reduction plans. Will Wolfspeed continue operations during bankruptcy? Yes. Wolfspeed stated it will continue delivering silicon carbide products while undergoing Chapter 11 restructuring, with plans to exit by the end of Q3 2025.
NDTV
34 minutes ago
- NDTV
"There Will Be No Change": Trump Rules Out Extension To August 1 Tariff Deadline
President Donald Trump said Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies, a day after he appeared to signal flexibility on the date. While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized to dozens of economies were unveiled, then halted until July 9. But the president this week again delayed their reimposition, pushing it back to August 1. Trump insisted that there would be no further delay in the tariffs. "There will be no change," he posted on Truth Social. He added that levies would start being paid on August 1, in line with letters now being sent out to trading partners. "No extensions will be granted," Trump said. On Monday night, Trump had told reporters at a dinner that the August 1 deadline was "firm, but not 100 percent firm." Pressed on whether the letters were his final offer, Trump replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it." In a push for further trade deals, Trump sent letters to more than a dozen partners on Monday, including key US allies Japan and South Korea. Products from both countries would be hit with 25 percent duties, Trump wrote in near-identical letters to leaders in Tokyo and Seoul. Indonesia, Bangladesh, Thailand, South Africa and Malaysia were among other countries facing duties ranging from 25 percent to 40 percent. In his messages to foreign leaders, Trump warned of further escalation if there was retaliation against his levies. Most countries receiving the letters so far saw US tariffs at similar or unchanged rates from those threatened in April, although some like Laos and Cambodia saw notably lower levels. The Trump administration is under pressure to show results after promising a flurry of deals following the US president's tariff threats. So far Washington has only struck two pacts, with Britain and Vietnam, besides an agreement to dial back staggeringly high tit-for-tat levies with China. In threatening tariff hikes on various economies, Trump cited in his letters a lack of reciprocity in trading ties. He also warned that goods transshipped to avoid higher duties would be subjected to steeper levels. But he added that if countries were willing to adjust their trade policies, Washington "will, perhaps, consider an adjustment to this letter." He said in the letters that tariffs could be modified "upward or downward, depending on our relationship with your Country."
