Apple’s Chinese supplier Luxshare downplays impact of U.S. patent probe

The USITC launched a Section 337 investigation into 20 companies, including Luxshare Precision, Foxconn, and Delta Electronics, over alleged patent infringement by Vicor Corporation. The case involves vertical power transmission systems used in AI and data center servers. Vicor seeks exclusion and cease-and-desist orders. The investigation could impact the AI server supply chain and US market access for the accused products.

Luxshare Precision Industry's stock fell 4.1% to HK$59.35 after Apple's product launch event, reversing prior gains. The company is a key supplier for Apple's new foldable iPhone. The decline reflects profit-taking and broader market weakness, with the Hang Seng Index down 1.4%. Luxshare's fundamentals remain strong, with expected net profit growth of 15-25% for the first nine months of 2026.

Black Hills Corp (NYSE:BKH) received approval for new rates in Arkansas, allowing recovery of $147M in investments. The new rates, effective Sunday, will generate $17.9M in annual revenue, based on a 9.8% return on equity. The company serves 1.37M customers across eight states.

Bank of America (BAC) was fined over $1.2 billion by regulators for failing to monitor transactions and report suspicious activity, including potential ties to illicit networks. The penalties include a $1.2 billion fine from FinCEN and a $750 million fine from the OCC, with an additional $11.6 million for sanctions violations. The bank admitted to violating the Bank Secrecy Act and must conduct a review of undetected transactions. BAC's stock fell 1% on the news.

The U.S. Treasury fined Bank of America $1.2 billion for alleged violations of anti-money laundering and sanctions laws, marking the third-largest penalty in its history. The bank also settled $11.6 million with OFAC for sanctions violations involving Iran, Russia, narcotics, and terrorism.

Bank of America faces over $1.2 billion in penalties for alleged money-laundering violations, including failure to report $5 billion in suspicious transactions and unresolved anti-money-laundering issues, according to regulators.