(Reuters) -Puma shares fell by 16% as the market opened on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a decline in annual profit. The weak results late on Wednesday came after rival Adidas reported strong sales and profitability,

J&J has been on an acquisition spree to boost its drugs and device businesses after spinning off its consumer unit in 2023. Last week, it announced the Intra-Cellular acquisition - its biggest deal in two years - to boost its portfolio of psychiatric drugs.

Darzalex, which treats multiple myeloma, has become the first Johnson & Johnson drug to ever top $3 billion in quarterly sales.

Associated British Foods downgraded the annual sales guidance for its Primark budget clothing business on Thursday after disappointing results in the Christmas quarter in its main UK and Ireland market.

Primark, the international fashion retailer, has cut its sales forecast for this year after a weak performance in its core UK market. Associated British Foods, the parent of Primark, said in a trading update on Thursday it was now targeting “low” single-digit sales growth for the fashion chain in 2025.

Canada's retail sales were flat in November as consumers purchased less from supermarkets, grocery stores, alcohol outlets and furniture shops but the numbers were buoyed by car sales, data showed on Thursday.