In today’s briefing:
- Tariff Doesn’t List Tire But Throws US Auto Industry Into A Tizzy
- Klarna IPO Preview: The Dominant BNPL Player in Europe, Trump’s Tariffs Are a Headwind
- Commodities Crash after Trump’s Tariff Nightmare
- [US Nat Gas Options Weekly 2025/14] Henry Hub Retreats Amid Tariff Shock and Warmer Weather Outlook
- Asia base oils demand outlook: Week of 7 April
- AMS: Growing O&O Segment Contributed to 33% Revenue Growth in 2024 Two New O&O Projects Moving Forward
- [US Crude Oil Options Weekly 2025/14] WTI Dropped to Four-Year Low on Trump’s Tariffs
- RVPH: M&A Deals Highlight Brilaroxazine Value
Tariff Doesn’t List Tire But Throws US Auto Industry Into A Tizzy
- White House said on March 26 that the 25% tariff would be applied to imported passenger vehicles
- Annexe II, which refers to tariff exclusions, mentions rubber
- Stellantis halts its Canada, Mexico production
Klarna IPO Preview: The Dominant BNPL Player in Europe, Trump’s Tariffs Are a Headwind
- Klarna Group, a Swedish fintech company and BNPL provider, filed for an IPO and submitted a registration statement F-1 form with the SEC.
- The company believes that AI and product diversification will boost profitability in the coming years coupled with aggressive cost-cutting and better underwriting process.
- However, Klarna delayed its planned IPO due to extreme volatility and Trump’s tariffs, which are a headwind for BNPL players, including Affirm and Klarna.
Commodities Crash after Trump’s Tariff Nightmare
- *YTD our absolute return strategy is up 7,5% Commodities Crash after Trump’s Tariff Nightmare In his mission to re-shore critical industries, raise revenue for the U.S. and narrow the deficit, Trump rolled out aggressive tariffs on virtually all countries (except Russia, Cuba and North Korea).
- The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each tariff rates seems insane.
- “We will charge them approximately half of what they are and have been charging us,” Trump said of the reciprocal tariffs.
[US Nat Gas Options Weekly 2025/14] Henry Hub Retreats Amid Tariff Shock and Warmer Weather Outlook
- For the week ending 04/Apr, U.S. natural gas prices fell by 5.6% on the back of Trump’s tariffs and warmer weather forecasts.
- U.S. natural gas futures continued to decline on 07/April (Mon), hovering around a seven-week low and extending last week’s 5.6% loss.
- Henry Hub OI PCR fell to 0.97 on 04/Apr from 0.98 on 28/Mar. Call OI increased by 5.3% WoW, while put OI grew by 5%.
Asia base oils demand outlook: Week of 7 April
- Asia’s base oils demand could fall in face of slumping crude oil prices and concern about slower-than-expected economic growth in the region.
- Concern about weaker demand cuts fundamentals-related support that could cushion against impact of falling crude oil prices.
- Concern about more muted demand and expected improvement in base oils supply in coming weeks would contrast with increasingly high base oils margins caused by lower crude oil prices.
AMS: Growing O&O Segment Contributed to 33% Revenue Growth in 2024 Two New O&O Projects Moving Forward
- With recent approval from state regulators to move forward on planned projects in Bristol, RI and Johnston, RI, the company continues to grow the number of facilities operated under its O&O model, a core objective.
- In 1Q25, AMS acquired property in Bristol, RI where it expects to construct a linear accelerator facility that would likely begin treating patients in about 18-24 months & AMS anticipates significant synergies within its expanding Rhode Island footprint.
- We expect these and other potential new projects will likely leverage an ‘asset-light’ approach that includes partnerships to reduce AMS’s upfront capital investment & enable AMS to retain a majority interest in the centers.
[US Crude Oil Options Weekly 2025/14] WTI Dropped to Four-Year Low on Trump’s Tariffs
- WTI futures fell 10.6% for the week ending 04/Apr, driven primarily by President Trump’s tariff announcement, which was broader and more severe than markets had anticipated.
- The U.S. rig count fell by two to 590. The oil rig count grew by five to 489, while gas rigs dropped by seven to 96.
- WTI OI PCR fell to 0.88 on 04/Apr compared to 0.91 on 28/Mar. Call OI increased by 10.8% WoW, while put OI grew by 7.2%.
RVPH: M&A Deals Highlight Brilaroxazine Value
- Reviva is a research and development pharmaceutical company with two portfolio compounds targeting nine indications.
- The candidates address multiple related mental disorders, rare diseases & other categories of un met need.
- Reviva’s lead indication in schizophrenia with brilaroxazine (RP5063) completed its 1st Phase III trial & is set to begin its 2nd in 2025.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
