1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:18,000 --> 00:00:20,400 Speaker 3: Let's get to some of the individual stocks on the move. 5 00:00:20,480 --> 00:00:24,360 Speaker 3: We are joined by Bloomberg's equities reporter Joe Easton and 6 00:00:24,480 --> 00:00:27,000 Speaker 3: Joe how hot does it have to be before you? 7 00:00:27,320 --> 00:00:30,720 Speaker 3: Joe Easton, don't consider a sausage role. 8 00:00:31,400 --> 00:00:33,199 Speaker 1: I think I could eat a sausage row on a 9 00:00:33,240 --> 00:00:36,680 Speaker 1: thirty five degrees I think, But well maybe not maybe 10 00:00:36,680 --> 00:00:41,279 Speaker 1: not quite that. Not everyone. So Greg's plunging today that 11 00:00:41,320 --> 00:00:44,239 Speaker 1: stock is down thirteen percent of the company saying that 12 00:00:44,320 --> 00:00:46,920 Speaker 1: profit may be lower than last year due to the 13 00:00:47,080 --> 00:00:50,720 Speaker 1: soaring temperatures, a sweltering heat that we've had in the UK, 14 00:00:50,800 --> 00:00:54,560 Speaker 1: which is discouraging people from buying all those delicious treats 15 00:00:54,720 --> 00:00:58,600 Speaker 1: like sausage roll, steak, bake, I, Guess donuts and other 16 00:00:58,680 --> 00:01:01,760 Speaker 1: sweet goods as well. So therefore they expect the first 17 00:01:01,840 --> 00:01:05,680 Speaker 1: half operating profit to be lower than the same period 18 00:01:06,080 --> 00:01:06,800 Speaker 1: last year. 19 00:01:06,959 --> 00:01:08,319 Speaker 2: Now kind of. 20 00:01:08,280 --> 00:01:11,039 Speaker 1: Question is that all to do with the weather or 21 00:01:11,120 --> 00:01:15,319 Speaker 1: was there a downturn in consumer sentiment already? But you 22 00:01:15,440 --> 00:01:18,319 Speaker 1: kind of have to agree that a steak bak and 23 00:01:18,319 --> 00:01:21,200 Speaker 1: a hot chocolate is not your immediate priority at the 24 00:01:21,200 --> 00:01:23,360 Speaker 1: moment in this heat. So maybe that is the reason. 25 00:01:23,640 --> 00:01:25,360 Speaker 1: But the stock down very sharply today. 26 00:01:25,480 --> 00:01:28,800 Speaker 4: Yeah, okay, so that's on Breggs. Now. There's also been 27 00:01:29,360 --> 00:01:33,600 Speaker 4: a profit warning that meben too much for investors in 28 00:01:34,360 --> 00:01:37,000 Speaker 4: Bites Technology to digest. 29 00:01:36,800 --> 00:01:40,000 Speaker 1: Yes, taking a bite out of Bytes Technology. That stock 30 00:01:40,120 --> 00:01:43,280 Speaker 1: is down twenty seven percent today. It's the biggest drop 31 00:01:43,440 --> 00:01:46,560 Speaker 1: since the company's IPO around five years ago. So Bytes 32 00:01:47,240 --> 00:01:50,160 Speaker 1: is worth well, it was yesterday worth around a billion 33 00:01:50,160 --> 00:01:52,440 Speaker 1: pounds in terms of the market caps, and not the 34 00:01:52,520 --> 00:01:56,520 Speaker 1: smaller stock on the market. And they are warning of 35 00:01:56,800 --> 00:02:03,280 Speaker 1: the macroeconomic environment environment deteriorating and leading customers to defer 36 00:02:03,480 --> 00:02:04,560 Speaker 1: their buying decisions. 37 00:02:04,600 --> 00:02:04,840 Speaker 3: Now. 38 00:02:05,080 --> 00:02:08,080 Speaker 1: Probably the interesting thing about this one is we're seeing 39 00:02:08,080 --> 00:02:10,959 Speaker 1: a ripple effect across all the UK tech stocks today. 40 00:02:11,240 --> 00:02:14,679 Speaker 1: So Softcat, which is a bigger company, down six percent, 41 00:02:15,080 --> 00:02:21,040 Speaker 1: Computer Center down five percent, Sage falling two percent as well, 42 00:02:21,080 --> 00:02:24,680 Speaker 1: so really hitting the other piers. Bites itself down twenty 43 00:02:24,720 --> 00:02:29,520 Speaker 1: three percent this morning. It's cloud software, its cybersecurity, all 44 00:02:29,560 --> 00:02:31,440 Speaker 1: of those kind of really hot sectors at the moment. 45 00:02:31,440 --> 00:02:34,880 Speaker 1: But that warning of customers slowing their orders hitting the 46 00:02:35,000 --> 00:02:36,560 Speaker 1: UK technology space today. 47 00:02:36,800 --> 00:02:39,560 Speaker 3: Okay, so from one time of technology to another, now, Joe, 48 00:02:39,600 --> 00:02:45,840 Speaker 3: because Danish turbine manufacturer Vestas has had a second wind absolutely. 49 00:02:45,160 --> 00:02:46,720 Speaker 1: And I wrote that pun as well, so I'm going 50 00:02:46,760 --> 00:02:51,200 Speaker 1: to enjoy it. Renewernery stock today up sharply, including Vestas, 51 00:02:51,280 --> 00:02:53,680 Speaker 1: as you mentioned, they're getting that second wind, A stock 52 00:02:53,840 --> 00:02:57,320 Speaker 1: up eight percent. We're also seeing moves in awested nord 53 00:02:57,520 --> 00:03:01,160 Speaker 1: x edp over in Portugal as well. Other news is 54 00:03:01,360 --> 00:03:04,760 Speaker 1: that the latest version of Donald Trump's A Big, Beautiful Bill, 55 00:03:04,919 --> 00:03:07,280 Speaker 1: it's actually stripped out a provision that was going to 56 00:03:07,960 --> 00:03:11,560 Speaker 1: tax companies doing wind and solar projects in the US 57 00:03:11,760 --> 00:03:15,520 Speaker 1: that were using Chinese components in their projects. The latest 58 00:03:15,560 --> 00:03:18,160 Speaker 1: version of the Senate bill that hit last night has 59 00:03:18,160 --> 00:03:21,560 Speaker 1: actually removed that and therefore we're seeing these stocks rallying 60 00:03:21,560 --> 00:03:22,040 Speaker 1: this morning. 61 00:03:22,800 --> 00:03:23,040 Speaker 3: Yeah. 62 00:03:23,919 --> 00:03:28,280 Speaker 4: Interesting, Yes. It also also I think there's an exception 63 00:03:29,000 --> 00:03:32,640 Speaker 4: for the tax breaks that if the solar and wind 64 00:03:32,720 --> 00:03:35,720 Speaker 4: projects that are approved that are kind of eligible start 65 00:03:35,800 --> 00:03:39,520 Speaker 4: within the twelve months from when the bill is signed, 66 00:03:39,880 --> 00:03:42,680 Speaker 4: that they would still get those tax exemptions. So that 67 00:03:42,800 --> 00:03:43,920 Speaker 4: kind of helps the sector. 68 00:03:44,000 --> 00:03:46,760 Speaker 1: So yes, there was the other element to the bill 69 00:03:46,800 --> 00:03:47,120 Speaker 1: as well. 70 00:03:47,200 --> 00:03:49,960 Speaker 4: Yeah, absolutely very good. Joe, Thank you so much for 71 00:03:50,000 --> 00:03:54,080 Speaker 4: being with us this morning. That is Equities Reported Joe Eastern. 72 00:03:54,880 --> 00:03:59,040 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 73 00:03:59,120 --> 00:04:01,880 Speaker 2: us throughout the day for the latest roundup of companies 74 00:04:01,920 --> 00:04:04,960 Speaker 2: making news on Wall Street and for the latest market 75 00:04:05,000 --> 00:04:09,320 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 76 00:04:09,400 --> 00:04:12,640 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 77 00:04:12,720 --> 00:04:14,200 Speaker 2: the Bloomberg Business app.