1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:17,960 Speaker 3: Well, let's check in on some of the stocks on 5 00:00:18,000 --> 00:00:20,360 Speaker 3: the move today in Europe. I'm Stephen Carroll and I'm 6 00:00:20,400 --> 00:00:23,840 Speaker 3: joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. 7 00:00:24,079 --> 00:00:27,520 Speaker 3: Let's start with Rio, tinto some movement on their share 8 00:00:27,520 --> 00:00:28,640 Speaker 3: prices today. What's going on. 9 00:00:29,440 --> 00:00:34,120 Speaker 1: Their new CEO is essentially implementing a huge strategy overhaul. 10 00:00:34,159 --> 00:00:37,160 Speaker 1: So this was announced early this morning. So Simon Trott, 11 00:00:37,200 --> 00:00:41,000 Speaker 1: he joined in August as the CEO. He's announced his plans. Yeah, 12 00:00:41,040 --> 00:00:43,760 Speaker 1: a total overhaul and a kind of a restructuring of 13 00:00:43,920 --> 00:00:46,239 Speaker 1: Rio to boost it. So they're planning to raise up 14 00:00:46,240 --> 00:00:49,239 Speaker 1: to ten billion dollars and they're going to reinvest that 15 00:00:49,320 --> 00:00:52,240 Speaker 1: into the business. They're going to raise that money by 16 00:00:52,600 --> 00:00:55,240 Speaker 1: divesting some stakes, selling minority stakes, and a whole host 17 00:00:55,240 --> 00:00:57,120 Speaker 1: of other measures, so a lot of cost saving measures 18 00:00:57,120 --> 00:00:59,640 Speaker 1: to raise that money, reinvest that into the business, and 19 00:00:59,680 --> 00:01:02,600 Speaker 1: then at the same time kind of pullback from non 20 00:01:02,920 --> 00:01:06,240 Speaker 1: core ambitions, so things like lithium, So for example, they've 21 00:01:06,280 --> 00:01:08,560 Speaker 1: only sad they're going to commit more capital to lithium 22 00:01:08,800 --> 00:01:12,400 Speaker 1: when support when they say it's supported by markets and returns. 23 00:01:12,480 --> 00:01:16,640 Speaker 1: So essentially, this is a plan to slim down the business, 24 00:01:17,160 --> 00:01:20,080 Speaker 1: make it more simple, and refocus on their core so 25 00:01:20,200 --> 00:01:24,280 Speaker 1: copper and iron ore in particular. It adds to changes 26 00:01:24,319 --> 00:01:27,399 Speaker 1: that the Trot's already done. So he's already implemented a 27 00:01:27,400 --> 00:01:29,480 Speaker 1: few measures, so he's cut back on some stuff already 28 00:01:29,560 --> 00:01:32,280 Speaker 1: since he's been there, and a few kind of non 29 00:01:32,360 --> 00:01:36,959 Speaker 1: core units. But this is kind of his big entire 30 00:01:37,040 --> 00:01:41,000 Speaker 1: plan that he's laid out now. If you just taking 31 00:01:41,000 --> 00:01:43,160 Speaker 1: a step back in terms of kind of the context 32 00:01:43,200 --> 00:01:46,360 Speaker 1: of it, it comes as you know, Rio's face quite 33 00:01:46,400 --> 00:01:47,920 Speaker 1: a lot of criticism over the last few year about 34 00:01:47,920 --> 00:01:50,640 Speaker 1: becoming far too bloated and focusing on a host of 35 00:01:50,640 --> 00:01:54,480 Speaker 1: different things rather than its original core. And it also 36 00:01:54,600 --> 00:01:59,200 Speaker 1: kind of echoes changes made by miners across the industry, 37 00:01:59,280 --> 00:02:01,760 Speaker 1: So you know, there's a lot of attention now turning 38 00:02:01,800 --> 00:02:06,520 Speaker 1: back to profitable assets copper in particular, and a lot 39 00:02:06,520 --> 00:02:10,040 Speaker 1: of consolidation in the industry as it you know, struggles. 40 00:02:09,560 --> 00:02:10,640 Speaker 3: With new norms. 41 00:02:10,680 --> 00:02:14,440 Speaker 1: So yeah, so this is Trot's his news strategy that 42 00:02:14,480 --> 00:02:17,000 Speaker 1: he's implemented, and I just want to end on a 43 00:02:17,040 --> 00:02:18,919 Speaker 1: quote with him that I quite liked. He said, it's 44 00:02:18,919 --> 00:02:21,679 Speaker 1: about focusing on what for us is the greatest opportunities 45 00:02:21,680 --> 00:02:24,080 Speaker 1: if you try to have think and you get nothing done, 46 00:02:24,240 --> 00:02:26,839 Speaker 1: which I thought was quite a good life lesson. 47 00:02:26,560 --> 00:02:29,240 Speaker 3: For everyone, a bit of philosophy. Along with the market 48 00:02:30,760 --> 00:02:34,280 Speaker 3: share is down slightly this morning in trading and London 49 00:02:34,320 --> 00:02:37,880 Speaker 3: at the moment, let's go to Phillips next, Louise. Their 50 00:02:37,919 --> 00:02:40,040 Speaker 3: show is actually down significantly, down over seven percent. 51 00:02:40,480 --> 00:02:40,799 Speaker 2: Indeed. 52 00:02:40,840 --> 00:02:43,280 Speaker 1: Yeah, so this is the Amsterdam listed health tech company, 53 00:02:43,520 --> 00:02:46,320 Speaker 1: so shares down this morning. They were the worst performer 54 00:02:46,400 --> 00:02:49,480 Speaker 1: in the healthcare index of the stock six hundred. This 55 00:02:49,560 --> 00:02:52,960 Speaker 1: is after a note by City Analysts. They're saying that 56 00:02:53,040 --> 00:02:56,680 Speaker 1: both tariffs and China challenges or they're noting tariff and 57 00:02:56,760 --> 00:02:59,440 Speaker 1: China challenges for twenty twenty six for the company. And 58 00:02:59,480 --> 00:03:03,640 Speaker 1: this is their takeaways from City's own conference that has 59 00:03:03,639 --> 00:03:06,360 Speaker 1: been happening. So the analyss has said that Phillips itself 60 00:03:06,440 --> 00:03:09,640 Speaker 1: cautioned that headwinds from taris next year will almost double. 61 00:03:10,400 --> 00:03:13,280 Speaker 1: They're expecting the environment in China also to remain pretty 62 00:03:13,360 --> 00:03:16,640 Speaker 1: muted next year. So as a result of that, the 63 00:03:16,639 --> 00:03:19,440 Speaker 1: City Analysts is saying that they think that sales growth 64 00:03:19,480 --> 00:03:23,679 Speaker 1: expectations for next year are probably too high, particularly given 65 00:03:23,720 --> 00:03:26,480 Speaker 1: the company stress, you know, that they can't double their 66 00:03:26,480 --> 00:03:29,200 Speaker 1: growth rate again as they have done next year. So 67 00:03:29,360 --> 00:03:32,320 Speaker 1: shares reacting, as you say, on the back of that, 68 00:03:32,440 --> 00:03:34,239 Speaker 1: So falling into the red this morning. 69 00:03:35,080 --> 00:03:38,800 Speaker 3: Okay, So that's the news on Phillips. And finally, trust 70 00:03:38,880 --> 00:03:40,680 Speaker 3: Pilot has gotten a badge review. 71 00:03:41,560 --> 00:03:45,080 Speaker 1: It has from a short seller, so short seller Grizzly Research. 72 00:03:45,120 --> 00:03:47,920 Speaker 1: They've published a report this morning and essentially saying that 73 00:03:47,920 --> 00:03:51,320 Speaker 1: they're short Trust Pilot. It's quite a damning report if 74 00:03:51,360 --> 00:03:52,800 Speaker 1: you read through it. I won't go into kind of 75 00:03:52,800 --> 00:03:55,240 Speaker 1: all the details, but you know, includes claims from them 76 00:03:55,280 --> 00:03:58,400 Speaker 1: about things like fake reviews. I should say Bloomberg has 77 00:03:58,440 --> 00:04:01,320 Speaker 1: gone to trust Pilot for four some comment on that. 78 00:04:01,720 --> 00:04:05,320 Speaker 1: So they've published that Trust Polot. It's hitting their shows. 79 00:04:05,320 --> 00:04:08,240 Speaker 1: They were down almost nine percent this morning on the 80 00:04:08,240 --> 00:04:09,920 Speaker 1: back of that short set of report. 81 00:04:11,040 --> 00:04:15,080 Speaker 2: The stock Moover's report from Bloomberg Radio. Check back with 82 00:04:15,160 --> 00:04:17,720 Speaker 2: us throughout the day for the latest roundup of companies 83 00:04:17,800 --> 00:04:20,920 Speaker 2: making news on Wall Street and for the latest market 84 00:04:20,920 --> 00:04:25,400 Speaker 2: moving headlines, Listen to Bloomberg Radio Live. Catch us on YouTube, 85 00:04:25,480 --> 00:04:29,000 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 86 00:04:29,080 --> 00:04:30,559 Speaker 2: the Bloomberg Business app.