WEBVTT - Rio Tinto Fluctuates, Philips Drops, Trustpilot Down 

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

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

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

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<v Speaker 3>Well, let's check in on some of the stocks on

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<v Speaker 3>the move today in Europe. I'm Stephen Carroll and I'm

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<v Speaker 3>joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.

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<v Speaker 3>Let's start with Rio, tinto some movement on their share

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<v Speaker 3>prices today. What's going on.

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<v Speaker 1>Their new CEO is essentially implementing a huge strategy overhaul.

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<v Speaker 1>So this was announced early this morning. So Simon Trott,

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<v Speaker 1>he joined in August as the CEO. He's announced his plans. Yeah,

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<v Speaker 1>a total overhaul and a kind of a restructuring of

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<v Speaker 1>Rio to boost it. So they're planning to raise up

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<v Speaker 1>to ten billion dollars and they're going to reinvest that

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<v Speaker 1>into the business. They're going to raise that money by

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<v Speaker 1>divesting some stakes, selling minority stakes, and a whole host

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<v Speaker 1>of other measures, so a lot of cost saving measures

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<v Speaker 1>to raise that money, reinvest that into the business, and

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<v Speaker 1>then at the same time kind of pullback from non

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<v Speaker 1>core ambitions, so things like lithium, So for example, they've

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<v Speaker 1>only sad they're going to commit more capital to lithium

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<v Speaker 1>when support when they say it's supported by markets and returns.

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<v Speaker 1>So essentially, this is a plan to slim down the business,

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<v Speaker 1>make it more simple, and refocus on their core so

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<v Speaker 1>copper and iron ore in particular. It adds to changes

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<v Speaker 1>that the Trot's already done. So he's already implemented a

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<v Speaker 1>few measures, so he's cut back on some stuff already

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<v Speaker 1>since he's been there, and a few kind of non

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<v Speaker 1>core units. But this is kind of his big entire

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<v Speaker 1>plan that he's laid out now. If you just taking

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<v Speaker 1>a step back in terms of kind of the context

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<v Speaker 1>of it, it comes as you know, Rio's face quite

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<v Speaker 1>a lot of criticism over the last few year about

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<v Speaker 1>becoming far too bloated and focusing on a host of

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<v Speaker 1>different things rather than its original core. And it also

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<v Speaker 1>kind of echoes changes made by miners across the industry,

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<v Speaker 1>So you know, there's a lot of attention now turning

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<v Speaker 1>back to profitable assets copper in particular, and a lot

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<v Speaker 1>of consolidation in the industry as it you know, struggles.

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<v Speaker 3>With new norms.

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<v Speaker 1>So yeah, so this is Trot's his news strategy that

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<v Speaker 1>he's implemented, and I just want to end on a

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<v Speaker 1>quote with him that I quite liked. He said, it's

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<v Speaker 1>about focusing on what for us is the greatest opportunities

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<v Speaker 1>if you try to have think and you get nothing done,

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<v Speaker 1>which I thought was quite a good life lesson.

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<v Speaker 3>For everyone, a bit of philosophy. Along with the market

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<v Speaker 3>share is down slightly this morning in trading and London

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<v Speaker 3>at the moment, let's go to Phillips next, Louise. Their

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<v Speaker 3>show is actually down significantly, down over seven percent.

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<v Speaker 2>Indeed.

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<v Speaker 1>Yeah, so this is the Amsterdam listed health tech company,

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<v Speaker 1>so shares down this morning. They were the worst performer

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<v Speaker 1>in the healthcare index of the stock six hundred. This

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<v Speaker 1>is after a note by City Analysts. They're saying that

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<v Speaker 1>both tariffs and China challenges or they're noting tariff and

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<v Speaker 1>China challenges for twenty twenty six for the company. And

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<v Speaker 1>this is their takeaways from City's own conference that has

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<v Speaker 1>been happening. So the analyss has said that Phillips itself

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<v Speaker 1>cautioned that headwinds from taris next year will almost double.

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<v Speaker 1>They're expecting the environment in China also to remain pretty

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<v Speaker 1>muted next year. So as a result of that, the

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<v Speaker 1>City Analysts is saying that they think that sales growth

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<v Speaker 1>expectations for next year are probably too high, particularly given

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<v Speaker 1>the company stress, you know, that they can't double their

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<v Speaker 1>growth rate again as they have done next year. So

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<v Speaker 1>shares reacting, as you say, on the back of that,

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<v Speaker 1>So falling into the red this morning.

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<v Speaker 3>Okay, So that's the news on Phillips. And finally, trust

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<v Speaker 3>Pilot has gotten a badge review.

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<v Speaker 1>It has from a short seller, so short seller Grizzly Research.

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<v Speaker 1>They've published a report this morning and essentially saying that

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<v Speaker 1>they're short Trust Pilot. It's quite a damning report if

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<v Speaker 1>you read through it. I won't go into kind of

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<v Speaker 1>all the details, but you know, includes claims from them

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<v Speaker 1>about things like fake reviews. I should say Bloomberg has

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<v Speaker 1>gone to trust Pilot for four some comment on that.

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<v Speaker 1>So they've published that Trust Polot. It's hitting their shows.

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<v Speaker 1>They were down almost nine percent this morning on the

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<v Speaker 1>back of that short set of report.

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