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: Now, let's have a look at some of the stocks
Speaker 3: on the move today here in Europe. I'm Caroline Hepcat
Speaker 3: alongside Jamana Bassecci, and we're joined by Blueberg's equity support
Speaker 3: to Joe Easton. Hi Joe. So, look, first, European medical
Speaker 3: tech firms got painful news over the weekend. How is
Speaker 3: that affecting them today?
Speaker 1: Yeah, so we are seeing weakness in all of those
Speaker 1: medical tech companies to day. So Semen's Health and Nears
Speaker 1: is down around one percent at the moment was down
Speaker 1: two percent. This is an maker of MRI machines. We've
Speaker 1: also got Phillips lower as well and Carl's iis medtech
Speaker 1: the big ones moving into space. This afternoons that Beijing
Speaker 1: will exclude EU based companies from government procurement for certain
Speaker 1: medical devices. This is kind of the latest tip for
Speaker 1: tat between the Chinese and the European Union on medical
Speaker 1: tech analysts saying that it's kind of unsure how much
Speaker 1: this will affect the firms in terms of revenue, but
Speaker 1: clearly hitting sentiments today. And all three of those big
Speaker 1: health tech companies are declining.
Speaker 3: This morning, and the oil giant Shell has seen its
Speaker 3: shares slide this morning as well. So drill into these
Speaker 3: bad numbers for.
Speaker 1: Us, Joe, Yes, well, yeah, the headline I saw was
Speaker 1: a crude awakening, which I quite like.
Speaker 2: So Shell is down today.
Speaker 1: Moving on from that, Shell is down three percent, a
Speaker 1: pretty big move for that stock. Actually, this after the
Speaker 1: oil company's second quarter update pointed to weaker performance than
Speaker 1: anticipated and that is likely to hit earnings expectations. Now,
Speaker 1: I'd read a note from Jefferies and they were predicting
Speaker 1: potentially cuts to their earnings or earnings consensus among analysts
Speaker 1: of up to twenty percent. So really quite big numbers
Speaker 1: in terms of how bad this report is. It is,
Speaker 1: of course, all tied to the wee caning crude price.
Speaker 1: That is kind of the main clear driver of this.
Speaker 1: The stock declining at two point six percent currently on
Speaker 1: the one year view, it's down eleven percent, and for
Speaker 1: a big stock like that is pretty negative news. A
Speaker 1: Shell down after that training update.
Speaker 3: Okay, And lastly, Stilantis hitting road bumps this year there
Speaker 3: you go. I know, it's all puns. What's the market
Speaker 3: has Stilantis? So Bank of America downgraded this one today.
Speaker 3: They've cut it to neutral from by. They're predicting a
Speaker 3: very weak first half for Stilantis. Now, this is one
Speaker 3: of the world's biggest car makers, so Jeep, Chrysler, all
Speaker 3: those big brands, and also a number of Italian brands
Speaker 3: as well.
Speaker 1: They reckon over at Boffer that it is too early
Speaker 1: to go bottom fishing on this stop because they think
Speaker 1: it has further to decline. On a one year of view,
Speaker 1: this stock is down fifty percent. It does all due
Speaker 1: really to competition in auto's a lot of in evs,
Speaker 1: with China putting a lot of cheaper evs onto the market.
Speaker 1: It's Bank of America really reiterating that predicting a very
Speaker 1: bad half year for the company, and the stock is
Speaker 1: down for a Sunday morning.
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.