Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 3: Let's get to some of the individual stocks on the move.
Speaker 3: We are joined by Bloomberg's equities reporter Joe Easton and
Speaker 3: Joe how hot does it have to be before you?
Speaker 3: Joe Easton, don't consider a sausage role.
Speaker 1: I think I could eat a sausage row on a
Speaker 1: thirty five degrees I think, But well maybe not maybe
Speaker 1: not quite that. Not everyone. So Greg's plunging today that
Speaker 1: stock is down thirteen percent of the company saying that
Speaker 1: profit may be lower than last year due to the
Speaker 1: soaring temperatures, a sweltering heat that we've had in the UK,
Speaker 1: which is discouraging people from buying all those delicious treats
Speaker 1: like sausage roll, steak, bake, I, Guess donuts and other
Speaker 1: sweet goods as well. So therefore they expect the first
Speaker 1: half operating profit to be lower than the same period
Speaker 1: last year.
Speaker 2: Now kind of.
Speaker 1: Question is that all to do with the weather or
Speaker 1: was there a downturn in consumer sentiment already? But you
Speaker 1: kind of have to agree that a steak bak and
Speaker 1: a hot chocolate is not your immediate priority at the
Speaker 1: moment in this heat. So maybe that is the reason.
Speaker 1: But the stock down very sharply today.
Speaker 4: Yeah, okay, so that's on Breggs. Now. There's also been
Speaker 4: a profit warning that meben too much for investors in
Speaker 4: Bites Technology to digest.
Speaker 1: Yes, taking a bite out of Bytes Technology. That stock
Speaker 1: is down twenty seven percent today. It's the biggest drop
Speaker 1: since the company's IPO around five years ago. So Bytes
Speaker 1: is worth well, it was yesterday worth around a billion
Speaker 1: pounds in terms of the market caps, and not the
Speaker 1: smaller stock on the market. And they are warning of
Speaker 1: the macroeconomic environment environment deteriorating and leading customers to defer
Speaker 1: their buying decisions.
Speaker 3: Now.
Speaker 1: Probably the interesting thing about this one is we're seeing
Speaker 1: a ripple effect across all the UK tech stocks today.
Speaker 1: So Softcat, which is a bigger company, down six percent,
Speaker 1: Computer Center down five percent, Sage falling two percent as well,
Speaker 1: so really hitting the other piers. Bites itself down twenty
Speaker 1: three percent this morning. It's cloud software, its cybersecurity, all
Speaker 1: of those kind of really hot sectors at the moment.
Speaker 1: But that warning of customers slowing their orders hitting the
Speaker 1: UK technology space today.
Speaker 3: Okay, so from one time of technology to another, now, Joe,
Speaker 3: because Danish turbine manufacturer Vestas has had a second wind absolutely.
Speaker 1: And I wrote that pun as well, so I'm going
Speaker 1: to enjoy it. Renewernery stock today up sharply, including Vestas,
Speaker 1: as you mentioned, they're getting that second wind, A stock
Speaker 1: up eight percent. We're also seeing moves in awested nord
Speaker 1: x edp over in Portugal as well. Other news is
Speaker 1: that the latest version of Donald Trump's A Big, Beautiful Bill,
Speaker 1: it's actually stripped out a provision that was going to
Speaker 1: tax companies doing wind and solar projects in the US
Speaker 1: that were using Chinese components in their projects. The latest
Speaker 1: version of the Senate bill that hit last night has
Speaker 1: actually removed that and therefore we're seeing these stocks rallying
Speaker 1: this morning.
Speaker 3: Yeah.
Speaker 4: Interesting, Yes. It also also I think there's an exception
Speaker 4: for the tax breaks that if the solar and wind
Speaker 4: projects that are approved that are kind of eligible start
Speaker 4: within the twelve months from when the bill is signed,
Speaker 4: that they would still get those tax exemptions. So that
Speaker 4: kind of helps the sector.
Speaker 1: So yes, there was the other element to the bill
Speaker 1: as well.
Speaker 4: Yeah, absolutely very good. Joe, Thank you so much for
Speaker 4: being with us this morning. That is Equities Reported Joe Eastern.
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.