1
00:00:02,520 --> 00:00:07,440
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:08,560 --> 00:00:12,440
Speaker 2: The Stock Movers Report, your roundup of companies making moves

3
00:00:12,480 --> 00:00:15,880
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

4
00:00:16,520 --> 00:00:18,119
Speaker 3: Well, let's take a look at some stocks on the

5
00:00:18,160 --> 00:00:20,360
Speaker 3: move today in Europe. I'm Stephen Call and I'm joined

6
00:00:20,360 --> 00:00:23,720
Speaker 3: by Bloomberg's Breaking news editor at Louise Moon. Louise, good morning.

7
00:00:23,800 --> 00:00:28,360
Speaker 3: Let's start then with UniCredit this morning, Italy's second largest bank,

8
00:00:28,440 --> 00:00:31,200
Speaker 3: reporting profits and revenues that beat expectations.

9
00:00:31,960 --> 00:00:35,479
Speaker 1: Indeed, however, despite that it is among the worst performers

10
00:00:35,520 --> 00:00:37,479
Speaker 1: in the stock six hundred banks index. This is their

11
00:00:37,479 --> 00:00:40,559
Speaker 1: third cause results, as you say, higher profit, higher revenue,

12
00:00:40,880 --> 00:00:44,159
Speaker 1: net income. They're key metric beat estimates. But essentially this

13
00:00:44,280 --> 00:00:48,720
Speaker 1: is failing to impress investors. Instead, they're focusing on the

14
00:00:48,840 --> 00:00:53,440
Speaker 1: lower net interest income and the prospect of higher bank

15
00:00:53,479 --> 00:00:56,240
Speaker 1: taxes in Italy. So als are questioning, you know, the

16
00:00:56,320 --> 00:01:00,000
Speaker 1: quality of that beat and saying although these earnings came

17
00:01:00,000 --> 00:01:03,320
Speaker 1: I mean, relatively solid, they weren't really enough to excite

18
00:01:03,400 --> 00:01:06,960
Speaker 1: the market. It's also worth noting they didn't upgrade their guidance.

19
00:01:07,080 --> 00:01:09,360
Speaker 1: Analysts are also noting that that they confirmed it, but

20
00:01:09,400 --> 00:01:12,240
Speaker 1: no upgrade and it kind of you know, take a

21
00:01:12,280 --> 00:01:17,200
Speaker 1: step back at underscores the challenge for the CEO. He's

22
00:01:17,240 --> 00:01:19,520
Speaker 1: streamlined the business a lot since taking over in twenty

23
00:01:19,840 --> 00:01:23,640
Speaker 1: twenty twenty one. That's boosted their share price highly and

24
00:01:23,680 --> 00:01:25,720
Speaker 1: then he kind of went on a takeover spree from there.

25
00:01:25,720 --> 00:01:28,120
Speaker 1: But the most recent efforts that's to buy Banco BPM

26
00:01:28,200 --> 00:01:30,920
Speaker 1: that failed, and so now there's a lot more focus

27
00:01:31,000 --> 00:01:36,200
Speaker 1: and pressure to boost the business itself, to focus on

28
00:01:36,240 --> 00:01:41,240
Speaker 1: execution at UniCredit itself. So solid earnings but failing to

29
00:01:41,440 --> 00:01:45,200
Speaker 1: impress as there's nothing really to tickling onto in terms

30
00:01:45,240 --> 00:01:45,959
Speaker 1: of looking forward.

31
00:01:46,480 --> 00:01:50,640
Speaker 3: Okay, Well, turning next to Addidas slumping after currency rates

32
00:01:50,760 --> 00:01:52,480
Speaker 3: weighed on its third quarter sales figures.

33
00:01:52,880 --> 00:01:55,280
Speaker 1: Indeed, yeah, shares fellow as much as about five and

34
00:01:55,320 --> 00:01:58,000
Speaker 1: a half percent this morning, and they're down about twenty

35
00:01:58,040 --> 00:02:00,000
Speaker 1: percent year to state. So they had the third quarter

36
00:02:00,200 --> 00:02:04,040
Speaker 1: results as well. Revenue fell slightly shive estimates way down,

37
00:02:04,080 --> 00:02:06,520
Speaker 1: as you say, by foreign exchange movements. That was that

38
00:02:06,600 --> 00:02:11,680
Speaker 1: was cited as quite a large headwind. They did, however,

39
00:02:11,960 --> 00:02:15,520
Speaker 1: raise their forecasts that was for operating profit. So even

40
00:02:15,560 --> 00:02:18,160
Speaker 1: though the market is reacting quite negatively, there was still

41
00:02:18,240 --> 00:02:21,560
Speaker 1: some positive some positive news. They raised that forecast, you know,

42
00:02:21,600 --> 00:02:26,720
Speaker 1: citing things like brand momentum. However, that was in line

43
00:02:26,800 --> 00:02:29,440
Speaker 1: with what ALYS had already expected, so that was already

44
00:02:29,480 --> 00:02:32,799
Speaker 1: priced in. That's that's why the market is reacting as

45
00:02:32,840 --> 00:02:35,320
Speaker 1: it is. So Alice is saying they're not really expecting

46
00:02:35,639 --> 00:02:40,200
Speaker 1: major revisions going forward. So yeah, Adidas has essentially been

47
00:02:40,520 --> 00:02:44,320
Speaker 1: having quite a good streak in terms of products for

48
00:02:44,320 --> 00:02:47,239
Speaker 1: the last two years. They revived some of their retro trainers,

49
00:02:47,800 --> 00:02:49,920
Speaker 1: and they're now trying to trying to really maintain that

50
00:02:50,000 --> 00:02:52,160
Speaker 1: momentum going forward.

51
00:02:52,880 --> 00:02:54,760
Speaker 3: Okay, So that's the lead US from addid ass and

52
00:02:54,800 --> 00:02:58,520
Speaker 3: next to ITV falling after Liberty Global sold a roughly

53
00:02:58,560 --> 00:03:00,520
Speaker 3: five percent stake in the media company.

54
00:03:00,880 --> 00:03:04,720
Speaker 1: Indeed, yeah, dragging the firty two fifty far lower this morning,

55
00:03:05,360 --> 00:03:08,239
Speaker 1: and ITV's plummeted to it's lower since April. So Liberty

56
00:03:08,240 --> 00:03:10,880
Speaker 1: Global is its largest stakeholder, and they sold half of

57
00:03:10,919 --> 00:03:13,360
Speaker 1: their stake, so they sort of five percent steak in ITV.

58
00:03:13,480 --> 00:03:16,040
Speaker 1: That was for one hundred and thirty five million pounds,

59
00:03:16,080 --> 00:03:19,120
Speaker 1: so Liberty Global had invested in twenty fifteen. ITV shares

60
00:03:19,160 --> 00:03:21,839
Speaker 1: since then have fallen about seventy percent and so they're

61
00:03:21,919 --> 00:03:26,360
Speaker 1: essentially taking out their their losses. Essentially, they say they're

62
00:03:26,360 --> 00:03:29,200
Speaker 1: divesting as part of their process. You know that they're

63
00:03:29,200 --> 00:03:32,160
Speaker 1: saying they're actively managing their portfolio and prioritizing what they're

64
00:03:32,200 --> 00:03:35,320
Speaker 1: called scale based investments. But it's an interesting one one

65
00:03:35,360 --> 00:03:38,880
Speaker 1: considering ITV's share price movement, and also considering that ITV

66
00:03:39,000 --> 00:03:41,560
Speaker 1: has been the subject of a lot of takeover speculation

67
00:03:41,960 --> 00:03:45,960
Speaker 1: and Liberty was speculated as a possible buyer, but that

68
00:03:46,080 --> 00:03:50,960
Speaker 1: now that they've pared their steak, that obviously seems increasingly unlikely.

69
00:03:51,280 --> 00:03:55,000
Speaker 2: So we'll be watching that the stock mover's report from

70
00:03:55,080 --> 00:03:58,160
Speaker 2: Bloomberg Radio. Check back with us throughout the day for

71
00:03:58,240 --> 00:04:01,360
Speaker 2: the latest roundup of companies, key news on Wall Street,

72
00:04:01,640 --> 00:04:05,160
Speaker 2: and for the latest market moving headlines. Listen to Bloomberg

73
00:04:05,240 --> 00:04:08,840
Speaker 2: Radio Live, catch us on YouTube, Bloomberg dot com, and

74
00:04:09,000 --> 00:04:12,640
Speaker 2: on Applecarplay and Android Auto with the Bloomberg Business app.