Speaker 1: Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data.
Speaker 2: Let's take a look at some of the stocks on
Speaker 2: the move today here in Europe. I'm Caroline Hepke with
Speaker 2: Stephen Carroll, and we're joined by Tiwa Adebayo. So let's
Speaker 2: have a look at the investment company Ackermans. Firstly, they
Speaker 2: do a lot of different things, don't they? Why is
Speaker 2: their stock price up today?
Speaker 3: Well, we've seen a gain of as much as 8.5%
Speaker 3: from them today. That's the most in six years. And
Speaker 3: an analyst at KBC Securities has a pretty good idea
Speaker 3: as to why. They've cited their recent results saying they
Speaker 3: closed a solid first half. And they've also added that
Speaker 3: this marks a fitting contribution to the company's 150th anniversary year. So,
Speaker 3: a lot of history behind this firm. But getting into
Speaker 3: the numbers, we saw consolidated net income up 24%. with
Speaker 3: contribution from core segments rising by 13% and growth capital
Speaker 3: recovering to a positive € 21.
Speaker 1: 4 million.
Speaker 3: It looks like private banking is also still a key
Speaker 3: driver for the firm. And in terms of the future,
Speaker 3: they're saying they've upgraded their guidance for the full year, 2026,
Speaker 3: And they're now expecting more than 10% net income growth.
Speaker 3: You mentioned, Caroline, they do quite a lot of different things.
Speaker 3: They've also announced a new investment, € 93 million for a 37%
Speaker 3: stake in Greek aqua. So, they're expanding their food and
Speaker 3: agriculture platform into Norwegian salmon.
Speaker 2: Right.
Speaker 1: Okay. Let's go from Norwegian salmon to electrical devices and
Speaker 1: the French firm Legrand. What's the news from them this morning?
Speaker 3: So, as you mentioned, Legrand designs and manufactures electrical devices
Speaker 3: like switches and sockets. They're up as much as 3%
Speaker 3: this morning. And that's as Morgan Stanley has published a
Speaker 3: note saying that their shares are at an attractive entry
Speaker 3: point after a relative derating in comparison to their peers. So,
Speaker 3: they've actually shouted out Legrand as one of their top
Speaker 3: picks for the year end in a recent note. Their
Speaker 3: analyst says that Morgan Stanley's analyst says that their 2027
Speaker 3: EBITDA expectations are 6% above consensus. And they also say
Speaker 3: that there are more ways to win at Legrand. So,
Speaker 3: they're looking at demand for white space. Data centers are
Speaker 3: looking for a strong 2027 and significant optionality regarding margins. Okay.
Speaker 2: So, that on Legrand. And then lastly, some news from
Speaker 2: Essilor Luxottica. Of course, they make the eyewear.
Speaker 1: Yeah.
Speaker 3: Yeah, the famous sunglasses conglomerate, their shares are up as
Speaker 3: much as 3.8% today. And that's as we've learned of
Speaker 3: some news from them. They're set to buy back more
Speaker 3: than € 800 million of stock to bolster investor confidence after
Speaker 3: a slide in their shares. The company says this move
Speaker 3: shows its belief in its own value creation and long-term prospects.
Speaker 3: But it's been a pretty eventful week for the firm.
Speaker 3: They saw Leonardo Maria del Vecchio, who is the fourth
Speaker 3: son of the founder, saying this week that he's stepping
Speaker 3: down from his roles as chief strategy officer and president
Speaker 3: of Ray-Ban specifically. He's unhappy with the way the company
Speaker 3: is run. So, pretty dramatic turn of events there. And
Speaker 3: we have seen their stock tumble by about 40% year-to-date. So,
Speaker 3: really in need of this buyback to sort of bolster
Speaker 3: the company's outlook. We'll see more on that perhaps in
Speaker 3: the coming days if the plan works.
Speaker 1: The Stock Movers Report from Bloomberg Radio. Check back with
Speaker 1: us throughout the day for the latest roundup of companies
Speaker 1: making news on Wall Street. And for the latest market-moving headlines,
Speaker 1: listen to Bloomberg Radio live. Catch us on YouTube, Bloomberg.com,
Speaker 1: and on Apple CarPlay and Android Auto with the Bloomberg
Speaker 1: Business app.