WEBVTT - Stellantis Changes CEO, Soitec Weakness, Kingfisher Dips 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's have a look at some of the stocks on

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<v Speaker 3>the move today here in Europe. I'm Caroline Hetger alongside

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<v Speaker 3>Lizzie Burden and we're joined by Bloomberg's Equities. Were port

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<v Speaker 3>to Joe easton Good Morning Joe. So a new CEO

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<v Speaker 3>seems to be the summer must have for Stilantis and

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<v Speaker 3>Remi Cuatro. How are European markets reacting then to the

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<v Speaker 3>news today.

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<v Speaker 1>Yes, so we've got a couple of bits of CEO news,

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<v Speaker 1>as you say, We've got news of Stilantis is of

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<v Speaker 1>course the owner of Jeep another brands Chrysler as well.

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<v Speaker 1>In the US, they're announcing that Antonio Filoso will be

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<v Speaker 1>the new leader. He is an experienced executive that recently

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<v Speaker 1>was head of the company's North American operations. So this

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<v Speaker 1>is kind of playing into the focus on the US

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<v Speaker 1>tariff situation, it seems to be, and that's also a

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<v Speaker 1>similar situation overt remy countro so very different businesses. Is

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<v Speaker 1>Cognac and other alcoholic beverages. Now they've got a new

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<v Speaker 1>CEO coming in as well, a guy named Frank Merrily.

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<v Speaker 1>Now this is an external appointment. Now, interestingly for this

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<v Speaker 1>is that Merrily. I'm sure I'm not doing his name

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<v Speaker 1>justice there, but he is actually a trade advisor to

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<v Speaker 1>the French government. So this is kind of again it's

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<v Speaker 1>playing into this theme of European companies they need to

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<v Speaker 1>tackle the political landscape, the tariff situation, and therefore appointing

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<v Speaker 1>these experienced people in these roles. In the tech space,

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<v Speaker 1>Joe the chip provider swat Tech is feeling uncertain. Is

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<v Speaker 1>it a sign of more things to come for the sector.

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<v Speaker 1>So this is a nasty one that stocked down twenty

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<v Speaker 1>three percent today, So swat Tech, I'm going to go

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<v Speaker 1>with Lizzie's pronunciation on that. I think that that's fantastic. Yeah,

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<v Speaker 1>it sounds nice. I was going to go sou Tech,

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<v Speaker 1>but I think I'm going to I'm going to stick

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<v Speaker 1>with Swartek for now. But that one down twenty three

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<v Speaker 1>percent today, the company withdrawing their guidance. Now, this company

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<v Speaker 1>makes wafers. Do not get that confused with ice cream wafers.

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<v Speaker 1>These are wafers that are used to make semiconductors, so

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<v Speaker 1>it's kind of the material that chip makers then use

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<v Speaker 1>to build semiconductors on. The company has been hit by

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<v Speaker 1>a decline in the auto market and also cell phones

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<v Speaker 1>as well, so weakness in the end market, pulling their guidance,

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<v Speaker 1>just scrapping it entirely. After a forty eight percent drop

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<v Speaker 1>in some of their earnings numbers in the last period,

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<v Speaker 1>stock absolutely slammed today, down twenty three percent.

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<v Speaker 3>Okay, so that in the kind of chip space realm anyway. Now, meanwhile,

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<v Speaker 3>we've also got DIY Kingfisher sales stalling, investors jumping ship.

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<v Speaker 1>So Kingfisher, well I'm trying to work out with that

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<v Speaker 1>was a pun or not. But Kingfisher that one is

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<v Speaker 1>down five percent today. So Kingfisher the owner of B

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<v Speaker 1>and Q. So that's what it's known for INK. But

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<v Speaker 1>interestingly they do have big Polish and French operations as well,

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<v Speaker 1>and actually in the statement it seems to be the

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<v Speaker 1>international sales of France Poland actually weaker. The UK market

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<v Speaker 1>has actually improved despite the weather not being great, so

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<v Speaker 1>kind of not encouraging people to get down to being

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<v Speaker 1>Q but the UK sales actually holding up better than

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<v Speaker 1>expected weakness over in France, the French and the Polish

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<v Speaker 1>not doing enough work on their houses over the spring months,

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<v Speaker 1>according to their statement.

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