Yahoo Finance's Brian Sozzi breaks down why Adidas stock is moving lower today.

BRIAN SOZZI: Before we head to break, let's check out shares of Adidas. Earlier this week, the apparel and footwear giant slashed its outlook as consumers cut back on spending due to recession fears. It also said it won't renew its partnership with the NHL. Now, UBS is slashing its rating on shares of Adidas. The investment bank cut its rating to hold from buy saying the company's 2025 financial targets now seem unachievable. UBS also blasted the company for strategies that have failed to gain traction.

Gaming equipment provider Inspired Entertainment has made a $370 million offer to acquire slot machine maker PlayAGS Inc, people familiar with the matter said on Friday. Inspired has offered $10 per share in cash to acquire PlayAGS, the sources said. Inspired Entertainment declined to comment.

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (the "Company" or "MindMed"), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, today reported its financial results for the quarter ended June 30, 2022.

More than half of Canadians believe the metaverse will be part of everyday life within the next decade, study says

Boeing Co's 787 Dreamliner has returned to the world market for newly delivered aircraft at a time when demand for wide-body jetliners is finally stirring to life after a prolonged slump. The U.S. planemaker delivered its first Dreamliner since May 2021 on Wednesday, in a significant milestone for the manufacturer after production problems with its wide-body jet. Boeing must now wade through painstaking regulatory checks to get further 787s delivered while chipping away at a backlog of about 120 stored planes outside its plants.

WASHINGTON (Reuters) -The United States on Friday adopted new export controls on technologies that support the production of advanced semiconductors and gas turbine engines that it said are critical to its national security. The "emerging and foundational technologies" covered by the move include gallium oxide and diamond, because "devices that utilize these materials have significantly increased military potential," the Commerce Department said. "Technological advancements that allow technologies like semiconductors and engines to operate faster, more efficiently, longer, and in more severe conditions can be game changers in both the commercial and military context," said Commerce Under Secretary for Industry and Security Alan Estevez.

Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week. Tornado Cash is one of the largest crypto blenders identified as problematic by the U.S. Treasury. The Dutch public prosecutor’s office for serious fraud, environmental crime and asset confiscation (FIOD) said Tornado was suspected of having laundered more than $7 billion worth of virtual currency since it was created in 2019.

Japanese vehicle maker Hino Motors Ltd and its parent, Toyota Motor Corp, have been accused of historical misconduct in a class action lawsuit brought in the United States, Hino said on Friday. The case, in the Southern District of Florida, has been filed on behalf of those who bought or leased 2004-2021 model year Hino trucks in the United States, the company said in a statement. An investigation report this month by a company-commissioned panel said Hino, Toyota's major affiliate, had falsified emissions data on some engines going back to at least 2003, or more than a decade earlier than previously indicated.

Several hospitals in Ontario closed emergency departments last weekend due to a severe staffing shortage. In Premier Doug Ford’s throne speech this week, the government said it is working with stakeholders to identify possible solutions to ease the pressure facing the healthcare system. “Your government is actively engaging with health-system partners to identify urgent, actionable solutions and will implement whatever measures are needed to help ease immediate pressures,” Lt.-Gov. Elizabeth Dowdeswell said in the throne speech delivered on behalf of the Ford government. While the immediate issues facing the healthcare system, such as temporary emergency department closures, need to be addressed, the Public Policy Forum’s Sean Speer said the government must also focus on the long-term, structural problems in the system. “We know because of aging demographics, pressure on our healthcare system is only going to grow,” Speer said. “It’s going to require more than a short-term push if we’re going to ensure not just that these emergency rooms reopen in the short term, but that they are actually capable of serving patients over the long term.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.

Nigeria's President Muhammadu Buhari has withheld his initial approval of Exxon Mobil's sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent. Buhari on Monday consented to the $1.28 billion transaction, only for the Nigerian Upstream Petroleum Regulatory Commission to say it opposed the deal, although it did not give a reason. The transaction is being closely watched by other oil majors like Shell and TotalEnergies, who have announced plans to sell some local assets.

MEXICO CITY (Reuters) -Mexican leasing firm Unifin's debt restructuring is credit negative and could reflect tight refinancing conditions for Mexican financial institutions, Moody's rating agency said on Friday. "Unifin's restructuring and cessation of principal and interest payments will negatively affect Mexico's smaller finance institutions, whose own liquidity profiles and funding sources are strained by heightened global volatility and investors wary of Mexico's," non-bank financial institution sector, Moody's said in its report. Unifin's shares were down 7.21% in late trading Friday.

Recently, GWM HAVAL DARGO was launched in Chile and Peru in South America, bringing a brand-new driving experience to local customers.

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Strathmore Landscape is proud to be the recipient of the National Award of Landscape Excellence for commercial maintenance for Centropolis. Awards were announced on August 11 at the CNLA 100-year anniversary celebration. This is Strathmore's second consecutive year being recognized for the best commercial landscape maintenance in Canada.

In West Virginia, a solar field could soon rise atop an abandoned coal mine, and factories will soon be churning out batteries and electric school buses. The ambitious U.S. climate bill could push up more of these green shoots, but analysts say King Coal will retain outsized clout in the state. Advocates say the $430 billion package, expected to clear Congress on Friday, could bring a tide of investment to one of the nation's poorest states.

(Reuters) -The U.S. stock market's rebound in recent weeks has analysts and investors questioning whether 2022's deep downturn has ended, but how to spot an expiring bear market or a new bull market is not something everyone on Wall Street agrees on. The Nasdaq index's drop of about 0.6% on Thursday left the tech-heavy index up 20% from recent low on June 16, while the S&P 500 has also rebounded in recent weeks, now up 15% from its recent low in June. The recent gains led analysts at Bespoke Investment Group to declare on Thursday morning the Nasdaq had exited its recent bear market, even though the index remains down about 21% from its record high close last November, with trillions of dollars in stock market value still lost.

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Naftogaz's JSC Ukrtransnafta pipeline operator said it resumed operations upon receiving payment from Hungarian oil company MOL on Wednesday evening. Ukraine had halted Russian oil shipments via Druzhba on Aug. 4 after Western sanctions prevented it from receiving transit fees from Moscow.

'When power goes out, every system we have shuts down'

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Canada's inverted yield curve is signaling the Bank of Canada may raise interest rates to a level that triggers a recession, placing the central bank in a tough spot as it aims to tame high inflation and engineer a "soft landing" for the economy. Canada's economy is likely to be particularly sensitive to higher interest rates after Canadians borrowed heavily during the COVID-19 pandemic to participate in a red-hot housing market. "It makes sense that we should see more of an inversion this cycle than we have in the last few just because there is so much more of a central bank overtightening component to this," said Andrew Kelvin, chief Canada strategist at TD Securities.