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Tag: Investment Management

Superdry (SDRY) Plunges After Warning on Potential Consumer Weakness
Business

Superdry (SDRY) Plunges After Warning on Potential Consumer Weakness

Superdry Plc shares plunged after the fashion retailer cut its profit outlook for the year, blaming its underperforming wholesale business and warning of potential consumer weakness in the months ahead. The British retailer, known for its logo T-shirts and bright colors, now expects adjusted pretax profit to be flat for the fiscal year ending in April. That compares with a previous forecast for £10 million ($12 million) to £20 million profit. Source link
As China Tech Stocks Roar Back, a New Normal Will Test Upside
Technology

As China Tech Stocks Roar Back, a New Normal Will Test Upside

Chinese tech stocks are suddenly back in Wall Street’s favor, but that doesn’t mean investors and analysts expect the sector to regain its former glory any time soon — if ever.From Goldman Sachs Group Inc. to Morgan Stanley, a growing number of strategists have made bullish calls following President Xi Jinping’s Covid Zero exit and vows to end a crackdown on the sector. The shifts have spurred a 60% rally in the Hang Seng Tech Index since an October trough, a world-beating feat even though the gauge’s market value is still half of its February 2021 peak.  Source link