WEBVTT - Ackermans Rises, Legrand Gains, EssilorLuxotica Up

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>Let's take a look at some of the stocks on

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<v Speaker 2>the move today here in Europe. I'm Caroline Hepke with

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<v Speaker 2>Stephen Carroll, and we're joined by Tiwa Adebayo. So let's

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<v Speaker 2>have a look at the investment company Ackermans. Firstly, they

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<v Speaker 2>do a lot of different things, don't they? Why is

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<v Speaker 2>their stock price up today?

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<v Speaker 3>Well, we've seen a gain of as much as 8.5%

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<v Speaker 3>from them today. That's the most in six years. And

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<v Speaker 3>an analyst at KBC Securities has a pretty good idea

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<v Speaker 3>as to why. They've cited their recent results saying they

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<v Speaker 3>closed a solid first half. And they've also added that

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<v Speaker 3>this marks a fitting contribution to the company's 150th anniversary year. So,

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<v Speaker 3>a lot of history behind this firm. But getting into

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<v Speaker 3>the numbers, we saw consolidated net income up 24%. with

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<v Speaker 3>contribution from core segments rising by 13% and growth capital

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<v Speaker 3>recovering to a positive € 21.

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<v Speaker 1>4 million.

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<v Speaker 3>It looks like private banking is also still a key

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<v Speaker 3>driver for the firm. And in terms of the future,

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<v Speaker 3>they're saying they've upgraded their guidance for the full year, 2026,

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<v Speaker 3>And they're now expecting more than 10% net income growth.

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<v Speaker 3>You mentioned, Caroline, they do quite a lot of different things.

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<v Speaker 3>They've also announced a new investment, € 93 million for a 37%

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<v Speaker 3>stake in Greek aqua. So, they're expanding their food and

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<v Speaker 3>agriculture platform into Norwegian salmon.

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<v Speaker 2>Right.

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<v Speaker 1>Okay. Let's go from Norwegian salmon to electrical devices and

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<v Speaker 1>the French firm Legrand. What's the news from them this morning?

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<v Speaker 3>So, as you mentioned, Legrand designs and manufactures electrical devices

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<v Speaker 3>like switches and sockets. They're up as much as 3%

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<v Speaker 3>this morning. And that's as Morgan Stanley has published a

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<v Speaker 3>note saying that their shares are at an attractive entry

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<v Speaker 3>point after a relative derating in comparison to their peers. So,

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<v Speaker 3>they've actually shouted out Legrand as one of their top

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<v Speaker 3>picks for the year end in a recent note. Their

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<v Speaker 3>analyst says that Morgan Stanley's analyst says that their 2027

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<v Speaker 3>EBITDA expectations are 6% above consensus. And they also say

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<v Speaker 3>that there are more ways to win at Legrand. So,

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<v Speaker 3>they're looking at demand for white space. Data centers are

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<v Speaker 3>looking for a strong 2027 and significant optionality regarding margins. Okay.

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<v Speaker 2>So, that on Legrand. And then lastly, some news from

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<v Speaker 2>Essilor Luxottica. Of course, they make the eyewear.

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<v Speaker 1>Yeah.

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<v Speaker 3>Yeah, the famous sunglasses conglomerate, their shares are up as

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<v Speaker 3>much as 3.8% today. And that's as we've learned of

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<v Speaker 3>some news from them. They're set to buy back more

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<v Speaker 3>than € 800 million of stock to bolster investor confidence after

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<v Speaker 3>a slide in their shares. The company says this move

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<v Speaker 3>shows its belief in its own value creation and long-term prospects.

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<v Speaker 3>But it's been a pretty eventful week for the firm.

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<v Speaker 3>They saw Leonardo Maria del Vecchio, who is the fourth

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<v Speaker 3>son of the founder, saying this week that he's stepping

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<v Speaker 3>down from his roles as chief strategy officer and president

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<v Speaker 3>of Ray-Ban specifically. He's unhappy with the way the company

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<v Speaker 3>is run. So, pretty dramatic turn of events there. And

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<v Speaker 3>we have seen their stock tumble by about 40% year-to-date. So,

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<v Speaker 3>really in need of this buyback to sort of bolster

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<v Speaker 3>the company's outlook. We'll see more on that perhaps in

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<v Speaker 3>the coming days if the plan works.

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