Stock Movers: Qualcomm China Probe, Applied Digital Data Centers, Levi Tariffs

Qualcomm Faces China Antitrust Investigation

• 📉 Qualcomm shares are down over 2.5% due to an antitrust investigation launched by China's State Administration for Market Regulation.
• ⚠️ The investigation stems from Qualcomm's alleged failure to report its acquisition of Autotalks, a vehicle communication solutions provider, to Chinese regulators.
• 🌐 With approximately 65% of its revenue coming from China, this probe poses potential issues for Qualcomm's operations and sales in the region.

Applied Digital's Data Center Expansion

• 🚀 Applied Digital shares are up 22% following positive earnings and news of advanced discussions with a hyperscaler client.
• 💡 The company is in talks to build a second data center campus in North Dakota, focusing on providing additional compute capacity.
• 📊 First-quarter revenue exceeded estimates, partly due to one-time income from tenant fit-out services.

Levi Strauss Grapples with Tariffs

• 👖 Levi Strauss shares are down nearly 7%, despite raising its full-year outlook.
• 📈 The company warned that tariffs are beginning to impact its business, raising concerns about future margin stability.
• 🌍 Levi has increased its tariff provision for the rest of the world (excluding China) to 20%, reflecting these growing cost pressures.

Critical Metals Speculation Drives Gains

• ⚡ Critical Metals is rising again, up 11% in pre-market trade and 80% for the week.
• 🇺🇸 This surge is fueled by speculation that the US government may take an equity stake in the company.
• 🤝 Such a move would be aimed at gaining leverage over China's dominant position in the critical metals mining sector.