Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: And you know, I'm James Walcot with Caroline Hepka, and
Speaker 3: we are joined by Bloomberg's Breaking you said, Louise Moon.
Speaker 3: Louise starting in the pub. Unusually at this point in
Speaker 3: the week, Weatherspoon's issued its fourth profit warning this year.
Speaker 3: What's going on?
Speaker 1: Yeah, So it said that it's full year profit will
Speaker 1: likely be below what is expected by the market. It's
Speaker 1: saying that this fourth quarter sales rose about four percent.
Speaker 1: That was less than expected. But essentially the main issue
Speaker 1: is that higher costs are weighing on their business. So
Speaker 1: it noted in particular labor, food, energy, business rates, all
Speaker 1: those costs rising and weighing on things. So shares fell
Speaker 1: twelve percent. As you said, it's their latest profit warning.
Speaker 1: They've already issued three down to as I say, those
Speaker 1: high costs as well as we consumer confidence and obviously
Speaker 1: all the head ones that the industry is seeing. Interesting
Speaker 1: that in the statement they didn't mention the world Cup,
Speaker 1: given that a lot of their peers have mentioned the
Speaker 1: World Cup is really boosting sales. We did. Bloomberg did
Speaker 1: then have an interview with the chair Tim Martin. He
Speaker 1: said they did get a boost from the World Cup,
Speaker 1: but actually the timings of the matches favored home consumption
Speaker 1: and he again really highlighted those rising costs. So and
Speaker 1: this is saying that given the heat wave and the
Speaker 1: World Cup all expected to kind of boost sales for pubs.
Speaker 1: The profit warning another profit warning shows really highlights the
Speaker 1: pressures on the sector. Okay, so that from Wetherspoon's Santander
Speaker 1: beating out expectations but shares down, why was that? Indeed, Yes,
Speaker 1: the SCD quarter results profits B estimates reaffirm their targets
Speaker 1: both short and medium term. Essentially on the positive side,
Speaker 1: they're being boosted by their recent takeover of TSB that
Speaker 1: completed at the end of April. It's added four million
Speaker 1: customers and it's all part of Santander's kind of wider
Speaker 1: acceleration of adding customers spanning outwards also in the US
Speaker 1: as well as the UK. But as you say, shares sliding.
Speaker 1: Actually the worst performer on the sock six hundred Bank Index.
Speaker 1: They had climbed over sixty five percent this year, but
Speaker 1: sliding this morning. It wasn't enough to excite analysts. They're
Speaker 1: saying it's unexciting results and they're expecting limited changes to expectations.
Speaker 1: So despite those positive those positive elements from their second quarter,
Speaker 1: not exciting enough for analysts and shares sliding on the
Speaker 1: back of that.
Speaker 3: You say, not exciting enough. I want to hear all
Speaker 3: about what I'm being told. A robust networks businesses over
Speaker 3: a patrol. Well let me tell you so.
Speaker 1: Yeah, every Joylist's fantasy utility had their first quarter first
Speaker 1: half sorry results and beat estimates. So essentially they're being
Speaker 1: boosted by their global reach. They've got their home market,
Speaker 1: they're also big in the UK. They've been ramping up
Speaker 1: investment and growth in Brazil and in the US. But
Speaker 1: despite that beat, they didn't raise guidance. That's one thing
Speaker 1: that analysts noting has not been positive. On the other hand, sorry,
Speaker 1: adding to that, they also another news bought a steak
Speaker 1: in Finland's main electricity network. That's for two billion euros.
Speaker 1: So entering new geography fits with a strategy. Positive, but
Speaker 1: unless saying that it's a full what they're calling a
Speaker 1: full price, So some mixed news there that you've got
Speaker 1: the beat. You've got that buying of the steak in
Speaker 1: the Finland's electricity network, but didn't raise guidance and quite
Speaker 1: a hefty price, Sexo shares falling in Madrid to for
Speaker 1: about three percent for the Spanish utilisee.
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