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: Well, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Call and I'm joined
Speaker 3: by Bloomberg's Breaking news editor at Louise Moon. Louise, good morning.
Speaker 3: Let's start then with UniCredit this morning, Italy's second largest bank,
Speaker 3: reporting profits and revenues that beat expectations.
Speaker 1: Indeed, however, despite that it is among the worst performers
Speaker 1: in the stock six hundred banks index. This is their
Speaker 1: third cause results, as you say, higher profit, higher revenue,
Speaker 1: net income. They're key metric beat estimates. But essentially this
Speaker 1: is failing to impress investors. Instead, they're focusing on the
Speaker 1: lower net interest income and the prospect of higher bank
Speaker 1: taxes in Italy. So als are questioning, you know, the
Speaker 1: quality of that beat and saying although these earnings came
Speaker 1: I mean, relatively solid, they weren't really enough to excite
Speaker 1: the market. It's also worth noting they didn't upgrade their guidance.
Speaker 1: Analysts are also noting that that they confirmed it, but
Speaker 1: no upgrade and it kind of you know, take a
Speaker 1: step back at underscores the challenge for the CEO. He's
Speaker 1: streamlined the business a lot since taking over in twenty
Speaker 1: twenty twenty one. That's boosted their share price highly and
Speaker 1: then he kind of went on a takeover spree from there.
Speaker 1: But the most recent efforts that's to buy Banco BPM
Speaker 1: that failed, and so now there's a lot more focus
Speaker 1: and pressure to boost the business itself, to focus on
Speaker 1: execution at UniCredit itself. So solid earnings but failing to
Speaker 1: impress as there's nothing really to tickling onto in terms
Speaker 1: of looking forward.
Speaker 3: Okay, Well, turning next to Addidas slumping after currency rates
Speaker 3: weighed on its third quarter sales figures.
Speaker 1: Indeed, yeah, shares fellow as much as about five and
Speaker 1: a half percent this morning, and they're down about twenty
Speaker 1: percent year to state. So they had the third quarter
Speaker 1: results as well. Revenue fell slightly shive estimates way down,
Speaker 1: as you say, by foreign exchange movements. That was that
Speaker 1: was cited as quite a large headwind. They did, however,
Speaker 1: raise their forecasts that was for operating profit. So even
Speaker 1: though the market is reacting quite negatively, there was still
Speaker 1: some positive some positive news. They raised that forecast, you know,
Speaker 1: citing things like brand momentum. However, that was in line
Speaker 1: with what ALYS had already expected, so that was already
Speaker 1: priced in. That's that's why the market is reacting as
Speaker 1: it is. So Alice is saying they're not really expecting
Speaker 1: major revisions going forward. So yeah, Adidas has essentially been
Speaker 1: having quite a good streak in terms of products for
Speaker 1: the last two years. They revived some of their retro trainers,
Speaker 1: and they're now trying to trying to really maintain that
Speaker 1: momentum going forward.
Speaker 3: Okay, So that's the lead US from addid ass and
Speaker 3: next to ITV falling after Liberty Global sold a roughly
Speaker 3: five percent stake in the media company.
Speaker 1: Indeed, yeah, dragging the firty two fifty far lower this morning,
Speaker 1: and ITV's plummeted to it's lower since April. So Liberty
Speaker 1: Global is its largest stakeholder, and they sold half of
Speaker 1: their stake, so they sort of five percent steak in ITV.
Speaker 1: That was for one hundred and thirty five million pounds,
Speaker 1: so Liberty Global had invested in twenty fifteen. ITV shares
Speaker 1: since then have fallen about seventy percent and so they're
Speaker 1: essentially taking out their their losses. Essentially, they say they're
Speaker 1: divesting as part of their process. You know that they're
Speaker 1: saying they're actively managing their portfolio and prioritizing what they're
Speaker 1: called scale based investments. But it's an interesting one one
Speaker 1: considering ITV's share price movement, and also considering that ITV
Speaker 1: has been the subject of a lot of takeover speculation
Speaker 1: and Liberty was speculated as a possible buyer, but that
Speaker 1: now that they've pared their steak, that obviously seems increasingly unlikely.
Speaker 2: So we'll be watching that the stock mover's report from
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