Streetbeat News

PUMSY

Puma SE

https://puma.com/

CEO

Bjoern Gulden

Industry

Footwear Manufacturing

Open

4.84

Mkt cap

7.3B

Volume

16K

High

4.86

P/E Ratio

27.00

52-wk high

6.53

Low

4.83

Div yield

0.02

52-wk low

3.62

PUMA SE (OTC:PUMSY) is ending its sponsorship of Israel's national soccer team after 2024, citing business reasons and a 'fewer-bigger-better strategy', not due to boycotts or the Middle East conflict. The BDS movement claims credit for the end of the sponsorship, which began facing boycotts in 2018. Puma also plans to end its partnership with Serbia's team after 2024 and will evaluate other partnerships. The news comes as Israel competes for a spot in Euro 2024, with Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA) holding U.S. TV rights. Puma is a major player in soccer, sponsoring top players and clubs, and was the third-largest sponsor at the 2022 World Cup. Unilever PLC (NYSE:UL), through its brand Ben & Jerry's, faced similar BDS pressure, leading to a halt in sales in the West Bank.

Portfolio Pulse from Chris Katje

December 15, 2023 | 5:07 pm

Nike Inc has reportedly launched legal challenges against New Balance and Skechers U.S.A., Inc, alleging that they have encroached upon patented sneaker technology. Nike's 'Flyknit' technology, a method of constructing the upper parts of athletic shoes, is claimed to have been used by New Balance's athletic footwear from Fresh Foam, FuelCell and other lines, alongside Skechers' Ultra Flex and Glide Step brands. Nike has demanded financial reparations for the alleged patent breaches and has urged the courts to enforce a permanent injunction to prevent further infringement.

Portfolio Pulse from Shivani Kumaresan

November 07, 2023 | 10:23 am

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