WEBVTT - Phillips, Shell Slump, Stellantis Cut 

0:00:02.520 --> 0:00:09.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

0:00:08.880 --> 0:00:13.119
<v Speaker 2>Stock Movers podcast, your roundup of companies making moves in

0:00:13.200 --> 0:00:16.480
<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

0:00:18.400 --> 0:00:19.880
<v Speaker 3>Now, let's have a look at some of the stocks

0:00:19.880 --> 0:00:22.200
<v Speaker 3>on the move today here in Europe. I'm Caroline Hepcat

0:00:22.239 --> 0:00:25.880
<v Speaker 3>alongside Jamana Bassecci, and we're joined by Blueberg's equity support

0:00:25.880 --> 0:00:29.280
<v Speaker 3>to Joe Easton. Hi Joe. So, look, first, European medical

0:00:29.480 --> 0:00:33.320
<v Speaker 3>tech firms got painful news over the weekend. How is

0:00:33.360 --> 0:00:34.560
<v Speaker 3>that affecting them today?

0:00:35.159 --> 0:00:37.520
<v Speaker 1>Yeah, so we are seeing weakness in all of those

0:00:37.560 --> 0:00:40.600
<v Speaker 1>medical tech companies to day. So Semen's Health and Nears

0:00:40.800 --> 0:00:44.040
<v Speaker 1>is down around one percent at the moment was down

0:00:44.080 --> 0:00:47.560
<v Speaker 1>two percent. This is an maker of MRI machines. We've

0:00:47.600 --> 0:00:50.960
<v Speaker 1>also got Phillips lower as well and Carl's iis medtech

0:00:51.040 --> 0:00:54.040
<v Speaker 1>the big ones moving into space. This afternoons that Beijing

0:00:54.160 --> 0:00:59.400
<v Speaker 1>will exclude EU based companies from government procurement for certain

0:00:59.600 --> 0:01:02.200
<v Speaker 1>medical devices. This is kind of the latest tip for

0:01:02.320 --> 0:01:07.120
<v Speaker 1>tat between the Chinese and the European Union on medical

0:01:07.200 --> 0:01:10.759
<v Speaker 1>tech analysts saying that it's kind of unsure how much

0:01:10.800 --> 0:01:13.200
<v Speaker 1>this will affect the firms in terms of revenue, but

0:01:13.280 --> 0:01:16.199
<v Speaker 1>clearly hitting sentiments today. And all three of those big

0:01:16.480 --> 0:01:18.560
<v Speaker 1>health tech companies are declining.

0:01:18.160 --> 0:01:21.280
<v Speaker 3>This morning, and the oil giant Shell has seen its

0:01:21.280 --> 0:01:23.840
<v Speaker 3>shares slide this morning as well. So drill into these

0:01:23.840 --> 0:01:24.640
<v Speaker 3>bad numbers for.

0:01:24.640 --> 0:01:27.520
<v Speaker 1>Us, Joe, Yes, well, yeah, the headline I saw was

0:01:27.560 --> 0:01:29.440
<v Speaker 1>a crude awakening, which I quite like.

0:01:30.720 --> 0:01:32.000
<v Speaker 2>So Shell is down today.

0:01:32.040 --> 0:01:34.360
<v Speaker 1>Moving on from that, Shell is down three percent, a

0:01:34.400 --> 0:01:36.600
<v Speaker 1>pretty big move for that stock. Actually, this after the

0:01:36.920 --> 0:01:41.080
<v Speaker 1>oil company's second quarter update pointed to weaker performance than

0:01:41.240 --> 0:01:45.000
<v Speaker 1>anticipated and that is likely to hit earnings expectations. Now,

0:01:45.280 --> 0:01:47.600
<v Speaker 1>I'd read a note from Jefferies and they were predicting

0:01:47.960 --> 0:01:52.800
<v Speaker 1>potentially cuts to their earnings or earnings consensus among analysts

0:01:52.800 --> 0:01:56.000
<v Speaker 1>of up to twenty percent. So really quite big numbers

0:01:56.040 --> 0:01:58.480
<v Speaker 1>in terms of how bad this report is. It is,

0:01:58.560 --> 0:02:01.240
<v Speaker 1>of course, all tied to the wee caning crude price.

0:02:01.280 --> 0:02:04.000
<v Speaker 1>That is kind of the main clear driver of this.

0:02:04.120 --> 0:02:08.320
<v Speaker 1>The stock declining at two point six percent currently on

0:02:08.520 --> 0:02:10.640
<v Speaker 1>the one year view, it's down eleven percent, and for

0:02:10.680 --> 0:02:13.360
<v Speaker 1>a big stock like that is pretty negative news. A

0:02:13.360 --> 0:02:15.400
<v Speaker 1>Shell down after that training update.

0:02:16.040 --> 0:02:21.919
<v Speaker 3>Okay, And lastly, Stilantis hitting road bumps this year there

0:02:21.919 --> 0:02:24.960
<v Speaker 3>you go. I know, it's all puns. What's the market

0:02:25.120 --> 0:02:29.280
<v Speaker 3>has Stilantis? So Bank of America downgraded this one today.

0:02:29.280 --> 0:02:32.080
<v Speaker 3>They've cut it to neutral from by. They're predicting a

0:02:32.320 --> 0:02:35.440
<v Speaker 3>very weak first half for Stilantis. Now, this is one

0:02:35.440 --> 0:02:39.840
<v Speaker 3>of the world's biggest car makers, so Jeep, Chrysler, all

0:02:39.840 --> 0:02:42.560
<v Speaker 3>those big brands, and also a number of Italian brands

0:02:42.560 --> 0:02:43.079
<v Speaker 3>as well.

0:02:43.560 --> 0:02:46.560
<v Speaker 1>They reckon over at Boffer that it is too early

0:02:46.639 --> 0:02:49.960
<v Speaker 1>to go bottom fishing on this stop because they think

0:02:50.280 --> 0:02:53.600
<v Speaker 1>it has further to decline. On a one year of view,

0:02:53.639 --> 0:02:56.600
<v Speaker 1>this stock is down fifty percent. It does all due

0:02:56.720 --> 0:03:00.760
<v Speaker 1>really to competition in auto's a lot of in evs,

0:03:00.800 --> 0:03:04.440
<v Speaker 1>with China putting a lot of cheaper evs onto the market.

0:03:04.680 --> 0:03:07.560
<v Speaker 1>It's Bank of America really reiterating that predicting a very

0:03:07.600 --> 0:03:10.400
<v Speaker 1>bad half year for the company, and the stock is

0:03:10.440 --> 0:03:12.160
<v Speaker 1>down for a Sunday morning.

0:03:13.400 --> 0:03:17.520
<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

0:03:17.600 --> 0:03:20.359
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:20.400 --> 0:03:23.440
<v Speaker 2>making news on Wall Street and for the latest market

0:03:23.480 --> 0:03:27.840
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:27.880 --> 0:03:31.120
<v Speaker 2>Bloomberg dot com, and on Applecarplay, and Android Auto with

0:03:31.200 --> 0:03:32.680
<v Speaker 2>the Bloomberg Business app.