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 have a look at some of the stocks on
Speaker 3: the move today here in Europe. I'm Caroline Hetger alongside
Speaker 3: Lizzie Burden and we're joined by Bloomberg's Equities. Were port
Speaker 3: to Joe easton Good Morning Joe. So a new CEO
Speaker 3: seems to be the summer must have for Stilantis and
Speaker 3: Remi Cuatro. How are European markets reacting then to the
Speaker 3: news today.
Speaker 1: Yes, so we've got a couple of bits of CEO news,
Speaker 1: as you say, We've got news of Stilantis is of
Speaker 1: course the owner of Jeep another brands Chrysler as well.
Speaker 1: In the US, they're announcing that Antonio Filoso will be
Speaker 1: the new leader. He is an experienced executive that recently
Speaker 1: was head of the company's North American operations. So this
Speaker 1: is kind of playing into the focus on the US
Speaker 1: tariff situation, it seems to be, and that's also a
Speaker 1: similar situation overt remy countro so very different businesses. Is
Speaker 1: Cognac and other alcoholic beverages. Now they've got a new
Speaker 1: CEO coming in as well, a guy named Frank Merrily.
Speaker 1: Now this is an external appointment. Now, interestingly for this
Speaker 1: is that Merrily. I'm sure I'm not doing his name
Speaker 1: justice there, but he is actually a trade advisor to
Speaker 1: the French government. So this is kind of again it's
Speaker 1: playing into this theme of European companies they need to
Speaker 1: tackle the political landscape, the tariff situation, and therefore appointing
Speaker 1: these experienced people in these roles. In the tech space,
Speaker 1: Joe the chip provider swat Tech is feeling uncertain. Is
Speaker 1: it a sign of more things to come for the sector.
Speaker 1: So this is a nasty one that stocked down twenty
Speaker 1: three percent today, So swat Tech, I'm going to go
Speaker 1: with Lizzie's pronunciation on that. I think that that's fantastic. Yeah,
Speaker 1: it sounds nice. I was going to go sou Tech,
Speaker 1: but I think I'm going to I'm going to stick
Speaker 1: with Swartek for now. But that one down twenty three
Speaker 1: percent today, the company withdrawing their guidance. Now, this company
Speaker 1: makes wafers. Do not get that confused with ice cream wafers.
Speaker 1: These are wafers that are used to make semiconductors, so
Speaker 1: it's kind of the material that chip makers then use
Speaker 1: to build semiconductors on. The company has been hit by
Speaker 1: a decline in the auto market and also cell phones
Speaker 1: as well, so weakness in the end market, pulling their guidance,
Speaker 1: just scrapping it entirely. After a forty eight percent drop
Speaker 1: in some of their earnings numbers in the last period,
Speaker 1: stock absolutely slammed today, down twenty three percent.
Speaker 3: Okay, so that in the kind of chip space realm anyway. Now, meanwhile,
Speaker 3: we've also got DIY Kingfisher sales stalling, investors jumping ship.
Speaker 1: So Kingfisher, well I'm trying to work out with that
Speaker 1: was a pun or not. But Kingfisher that one is
Speaker 1: down five percent today. So Kingfisher the owner of B
Speaker 1: and Q. So that's what it's known for INK. But
Speaker 1: interestingly they do have big Polish and French operations as well,
Speaker 1: and actually in the statement it seems to be the
Speaker 1: international sales of France Poland actually weaker. The UK market
Speaker 1: has actually improved despite the weather not being great, so
Speaker 1: kind of not encouraging people to get down to being
Speaker 1: Q but the UK sales actually holding up better than
Speaker 1: expected weakness over in France, the French and the Polish
Speaker 1: not doing enough work on their houses over the spring months,
Speaker 1: according to their statement.
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