1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,759 Speaker 2: in the stock market. Harnessing the power of Bloomberg data. 4 00:00:18,040 --> 00:00:19,759 Speaker 1: Let's take a look at some stocks on the move 5 00:00:19,760 --> 00:00:22,880 Speaker 1: today in Europe. Were joined by Our Equity's reporter Joe 6 00:00:22,920 --> 00:00:26,120 Speaker 1: Easton for that Joe Good Morning, starting with JP Morgan 7 00:00:26,160 --> 00:00:29,680 Speaker 1: talking about luxury in Europe potentially opening a Pandora's box. 8 00:00:30,440 --> 00:00:33,600 Speaker 3: Absolutely a Pandora's box opened up by JPM. So JPM 9 00:00:33,800 --> 00:00:36,480 Speaker 3: with a note today saying that it's difficult to cool 10 00:00:36,560 --> 00:00:41,199 Speaker 3: the bottom of the luxury market and downgrading Pandora to 11 00:00:41,800 --> 00:00:44,879 Speaker 3: neutral from by and hence that segwe there, but the 12 00:00:45,280 --> 00:00:48,320 Speaker 3: bank more broadly saying that these tariffs really going to 13 00:00:48,400 --> 00:00:52,360 Speaker 3: continue hitting the sector and they can't see an end 14 00:00:52,360 --> 00:00:57,400 Speaker 3: two declines at the moment. So they see the companies 15 00:00:57,440 --> 00:01:02,240 Speaker 3: with strongest brand momentum and pricing power, so Richemont, Pradams 16 00:01:02,280 --> 00:01:04,920 Speaker 3: with those burking bags, anything that kind of is able 17 00:01:04,959 --> 00:01:07,839 Speaker 3: to weather the storm in a broader macro downturn. That's 18 00:01:07,880 --> 00:01:09,880 Speaker 3: the only place to be in terms of where to 19 00:01:09,920 --> 00:01:11,559 Speaker 3: buy in luxury at the moment. 20 00:01:11,959 --> 00:01:13,440 Speaker 4: In terms of Pandora itself. 21 00:01:13,800 --> 00:01:17,040 Speaker 3: That was a company hit particularly hard by the tariff 22 00:01:17,040 --> 00:01:20,039 Speaker 3: news because they make all of their products over in Thailand, 23 00:01:20,040 --> 00:01:23,080 Speaker 3: as we discussed before, and Thailand facing a thirty six 24 00:01:23,120 --> 00:01:25,720 Speaker 3: percent tariff front Trump, so that is part of the 25 00:01:25,760 --> 00:01:29,360 Speaker 3: reason for that downgrade. And Pandora down almost three percent 26 00:01:29,440 --> 00:01:32,920 Speaker 3: again this morning, and Joe Infinian showing the markets that 27 00:01:33,080 --> 00:01:38,759 Speaker 3: automakers can still drive through deals. Yep, so the Infinia 28 00:01:38,959 --> 00:01:42,800 Speaker 3: driving that deal. It's an automotive deal. So the company 29 00:01:43,200 --> 00:01:48,280 Speaker 3: is buying the automotive networking business from Marvel Technology over 30 00:01:48,320 --> 00:01:51,000 Speaker 3: in the US for about two point five billion dollars. 31 00:01:51,080 --> 00:01:54,600 Speaker 3: So this appears to be a company that helps vehicles 32 00:01:54,640 --> 00:01:59,880 Speaker 3: connect to each other and to softwares for automated driving, 33 00:02:00,120 --> 00:02:02,320 Speaker 3: that kind of thing. So therefore they can pay two 34 00:02:02,320 --> 00:02:05,320 Speaker 3: point five billion dollars for that firm. But it's priced 35 00:02:05,600 --> 00:02:08,760 Speaker 3: at around thirty five times earnings, which is one of 36 00:02:08,800 --> 00:02:11,240 Speaker 3: the most expensive deals we've seen for a while. So 37 00:02:11,280 --> 00:02:14,440 Speaker 3: in Finian shares actually not reacting well to the news, 38 00:02:14,480 --> 00:02:17,280 Speaker 3: down around half of one percent at the moment. But 39 00:02:17,360 --> 00:02:19,079 Speaker 3: keep an eye on Marvel Tech over in the US 40 00:02:19,120 --> 00:02:23,359 Speaker 3: because that one is to drive higher perhaps later today. 41 00:02:23,400 --> 00:02:26,560 Speaker 1: Okay, And then turning into the oil markets Repsol and 42 00:02:26,600 --> 00:02:29,000 Speaker 1: their latest to earnings. 43 00:02:28,800 --> 00:02:31,080 Speaker 4: So Repsol looking a little bit weak. 44 00:02:31,240 --> 00:02:34,959 Speaker 3: They are reporting its softness in their refining margins. Now 45 00:02:35,080 --> 00:02:38,400 Speaker 3: this coming amid this massive drop we've seen in the 46 00:02:38,440 --> 00:02:42,080 Speaker 3: crude price recently, however, we are seeing the market recovering 47 00:02:42,120 --> 00:02:45,040 Speaker 3: very slightly state but nonetheless Repsol warning that the lower 48 00:02:45,120 --> 00:02:48,000 Speaker 3: crude price is going to hurt their margins and therefore 49 00:02:48,080 --> 00:02:51,680 Speaker 3: downgrading some of their earnings forecast. So that stock down 50 00:02:51,720 --> 00:02:54,240 Speaker 3: around half of one percent at the moment, actually one of. 51 00:02:54,240 --> 00:02:55,840 Speaker 4: The weakest in the sector. 52 00:02:55,880 --> 00:02:58,600 Speaker 3: Because pretty much all of those stocks are bouncing back 53 00:02:58,600 --> 00:03:01,080 Speaker 3: with the broader market this morning. Repsul kind of buck 54 00:03:01,120 --> 00:03:03,720 Speaker 3: in the trend. With that, we can expect a production 55 00:03:03,840 --> 00:03:04,600 Speaker 3: guidance today. 56 00:03:05,960 --> 00:03:10,320 Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us 57 00:03:10,360 --> 00:03:13,280 Speaker 2: throughout the day for the latest roundup of companies making 58 00:03:13,360 --> 00:03:16,920 Speaker 2: news on Wall Street and for the latest market moving headlines. 59 00:03:17,080 --> 00:03:21,000 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 60 00:03:21,040 --> 00:03:23,880 Speaker 2: dot com, and on Applecarplay and Android Auto with the 61 00:03:23,880 --> 00:03:25,240 Speaker 2: Bloomberg Business app.