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Non-Tech : Kirk's Market Thoughts
COHR 139.12-0.1%3:59 PM EST
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To: kimberley who wrote (9609)5/19/2020 3:57:16 PM
From: Kirk ©1 Recommendation

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Well this explains why IIVI is up so much (about 8%) today while the markets are down (SPY down 0.85%).

II-VI Says US Huawei Ban Will Have No, Minimal Impact on Business
BY MT Newswires
— 10:12 AM ET 05/19/2020

10:12 AM EDT, 05/19/2020 (MT Newswires) -- II-VI (IIVI) said Tuesday that the decision of the US Commerce Department to place Chinese telecommunication equipment company Huawei on the Entity List and amend its longstanding foreign-produced direct product rule "will have no to minimal impact" on the company's sales or prospects.

Huawei's designation in the Entity List prevents the Chinese firm from accessing US technology to be used in the production of semiconductors.

The engineered materials company said that it will continue to monitor the rule and Commerce Department guidance to determine any changes that will have to be made and to remain fully compliant with the order.

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