1 00:00:02,520 --> 00:00:07,360 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 00:00:16,400 --> 00:00:17,959 Speaker 3: But let's take a look at some stocks on the 5 00:00:17,960 --> 00:00:20,320 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,320 --> 00:00:24,040 Speaker 3: by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's 7 00:00:24,040 --> 00:00:26,720 Speaker 3: start in the UK then with right Move. The property 8 00:00:26,720 --> 00:00:30,600 Speaker 3: website reporting earnings and shares certainly not making the right 9 00:00:30,640 --> 00:00:31,400 Speaker 3: move this morning. 10 00:00:31,800 --> 00:00:34,880 Speaker 4: Indeed absolutely plunging this morning. They were the biggest faller 11 00:00:34,920 --> 00:00:37,479 Speaker 4: on the foot seat one hundred. It's a really it's 12 00:00:37,520 --> 00:00:40,559 Speaker 4: a dramatic look at their share price move. They've been 13 00:00:40,600 --> 00:00:43,720 Speaker 4: on an absolute tear for years. They've gained huge market 14 00:00:43,760 --> 00:00:46,199 Speaker 4: share and then if you look today, it kind of 15 00:00:46,520 --> 00:00:49,240 Speaker 4: falls off a cliffs. They're back to levels last scene 16 00:00:49,240 --> 00:00:53,320 Speaker 4: in about August last year. So this is partly there's 17 00:00:53,320 --> 00:00:55,800 Speaker 4: someone's certainly around the budget. They flagged that, but also, 18 00:00:55,800 --> 00:00:58,840 Speaker 4: as you say, they're warning on revenue growth likely to 19 00:00:58,840 --> 00:01:01,280 Speaker 4: be flat in twenty twenty, they're saying growth of about 20 00:01:01,360 --> 00:01:03,680 Speaker 4: nine percent this year and much the same in twenty 21 00:01:03,680 --> 00:01:04,080 Speaker 4: twenty six. 22 00:01:04,120 --> 00:01:05,800 Speaker 1: So it's about eight percent to ten percent. 23 00:01:06,200 --> 00:01:09,600 Speaker 4: They've also delayed their goals for sales growth from twenty 24 00:01:09,600 --> 00:01:12,240 Speaker 4: twenty eight to twenty thirty, so they've pushed that back 25 00:01:12,280 --> 00:01:14,480 Speaker 4: as well. And this is all coming as they also 26 00:01:14,600 --> 00:01:17,119 Speaker 4: unveiled plans to boost AI investments, so a lot more 27 00:01:17,120 --> 00:01:21,280 Speaker 4: investment into AI potentially could impact their revenue, and analysts 28 00:01:21,280 --> 00:01:24,600 Speaker 4: are saying, you know, this could be two steps back 29 00:01:24,640 --> 00:01:25,720 Speaker 4: for three steps. 30 00:01:25,360 --> 00:01:26,680 Speaker 1: Forward kind of things. 31 00:01:26,720 --> 00:01:29,080 Speaker 4: So, and there's a lot of pressure to explain why 32 00:01:29,160 --> 00:01:31,959 Speaker 4: now is the time to do that, considering they've been 33 00:01:32,000 --> 00:01:34,160 Speaker 4: doing so well. So there's a really interesting note from 34 00:01:34,200 --> 00:01:37,039 Speaker 4: Bloomberg Intelligence and they're saying that they think that this 35 00:01:37,160 --> 00:01:41,200 Speaker 4: shows that management think that this kind of historic solid 36 00:01:41,360 --> 00:01:44,280 Speaker 4: top line trend is becoming tougher to sustain and they 37 00:01:44,319 --> 00:01:46,679 Speaker 4: need to spend more and invest more to keep that 38 00:01:46,720 --> 00:01:48,600 Speaker 4: going in the long run, even if this is going 39 00:01:48,640 --> 00:01:52,480 Speaker 4: to hamper or potentially hamper revenue growth in the short term. 40 00:01:52,680 --> 00:01:55,360 Speaker 3: Yeah, really interesting to see how that company is reacting 41 00:01:55,400 --> 00:01:59,600 Speaker 3: to those broader headwinds. Looking at ITV shares moving en 42 00:01:59,640 --> 00:02:02,480 Speaker 3: very much the opposite direction. After inning that it's in 43 00:02:02,520 --> 00:02:05,600 Speaker 3: talks with the owner of sky Comcast or at the 44 00:02:05,640 --> 00:02:07,280 Speaker 3: sale of its media and entertainment time. 45 00:02:07,600 --> 00:02:09,160 Speaker 1: Indeed, shares are soaring on the back of this. 46 00:02:09,200 --> 00:02:11,720 Speaker 4: They jumped about twenty percent this morning, so leading the 47 00:02:12,800 --> 00:02:15,080 Speaker 4: midcaps the foot C two fifty as you say. So 48 00:02:15,160 --> 00:02:18,399 Speaker 4: Sky is in talks to buy ITV's media and entertainment arms. 49 00:02:18,400 --> 00:02:20,040 Speaker 4: That would be for they're saying that would be for 50 00:02:20,080 --> 00:02:22,680 Speaker 4: about one point six billion pounds. So this is the 51 00:02:22,800 --> 00:02:25,720 Speaker 4: arm that is behind their free to air TV channel 52 00:02:25,919 --> 00:02:28,760 Speaker 4: and also their streaming platform. So if this deal went through, 53 00:02:28,760 --> 00:02:31,200 Speaker 4: it would leave ITV with their studios units, so that's 54 00:02:31,320 --> 00:02:34,560 Speaker 4: the unit that produces a lot of their entertainment shows. 55 00:02:34,600 --> 00:02:38,240 Speaker 4: So Britain's got Talent, Love Island, all those guilty pleasures. 56 00:02:38,840 --> 00:02:41,200 Speaker 4: But as you say, ultimately Comcast the US Chianet would 57 00:02:41,200 --> 00:02:44,360 Speaker 4: be the owner because they own the Sky, So it 58 00:02:44,360 --> 00:02:45,919 Speaker 4: would be if it goes through, it be a real 59 00:02:46,000 --> 00:02:48,040 Speaker 4: shake up in the broadcasting space. It would create a 60 00:02:48,040 --> 00:02:53,040 Speaker 4: broadcasting giant, and it follows years of ITV being tipped 61 00:02:53,080 --> 00:02:55,239 Speaker 4: as a potential takeover target. 62 00:02:55,280 --> 00:02:56,440 Speaker 1: Their shares have really struggled. 63 00:02:56,520 --> 00:03:00,120 Speaker 4: They're about seventy percent off a twenty fifteen peak, and 64 00:03:00,160 --> 00:03:03,240 Speaker 4: this was kind of those shares that I mean, they 65 00:03:03,240 --> 00:03:07,200 Speaker 4: plunged even more last month that their larger largest shareholder, 66 00:03:07,240 --> 00:03:10,079 Speaker 4: Liberty Global, cut their stake in half. They had previously 67 00:03:10,120 --> 00:03:13,240 Speaker 4: been touted as a buyer. So ITV has been struggling 68 00:03:13,280 --> 00:03:15,079 Speaker 4: for a long time as the media industry kind of 69 00:03:15,080 --> 00:03:18,400 Speaker 4: shifts away from traditional broadcasting. So Alice is saying that 70 00:03:18,440 --> 00:03:21,200 Speaker 4: this is a this is a positive surprise, and if 71 00:03:21,200 --> 00:03:22,760 Speaker 4: the deal goes through, it would be at quite a 72 00:03:22,840 --> 00:03:26,000 Speaker 4: healthy multiple. So as I say, shares reacting positively on 73 00:03:26,040 --> 00:03:26,520 Speaker 4: the back of that. 74 00:03:27,320 --> 00:03:30,320 Speaker 3: And last week to monitor PASCIDCNA, the Italian lender posting 75 00:03:30,360 --> 00:03:32,440 Speaker 3: better than expected profits in the third quarter. 76 00:03:32,880 --> 00:03:36,120 Speaker 4: Indeed, third quarter results, net income better than expected, they 77 00:03:36,160 --> 00:03:39,800 Speaker 4: increased their guidance for full year profit, and shares reacting 78 00:03:39,840 --> 00:03:41,880 Speaker 4: positively on the news. They were the best performer on 79 00:03:41,920 --> 00:03:45,240 Speaker 4: the stock six hundred bank indecks this morning. They're saying 80 00:03:45,240 --> 00:03:48,480 Speaker 4: that this reflects their recent takeover of Mediobanker that their 81 00:03:48,600 --> 00:03:52,040 Speaker 4: rival lender, their arrival Italian lender SAT completed in September 82 00:03:52,160 --> 00:03:58,320 Speaker 4: and it created Italy's third largest lender by assets. So yes, 83 00:03:58,480 --> 00:04:01,520 Speaker 4: doing well, strong third quarter results and listen noting those 84 00:04:01,520 --> 00:04:06,200 Speaker 4: strong revenues, better cost controls and all that positive news, 85 00:04:06,240 --> 00:04:08,440 Speaker 4: and so The next thing now to be looking for 86 00:04:08,840 --> 00:04:11,040 Speaker 4: will be in their first quarter next year. They're going 87 00:04:11,040 --> 00:04:13,160 Speaker 4: to present a new strategy, so how they're going to 88 00:04:13,200 --> 00:04:16,039 Speaker 4: move forward post that large takeover. 89 00:04:17,760 --> 00:04:21,800 Speaker 2: The stock Movers report from Bloomberg Radio. Check back with 90 00:04:21,880 --> 00:04:24,440 Speaker 2: us throughout the day for the latest roundup of companies 91 00:04:24,520 --> 00:04:27,599 Speaker 2: making news on Wall Street and for the latest market 92 00:04:27,640 --> 00:04:32,080 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 93 00:04:32,200 --> 00:04:35,719 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 94 00:04:35,760 --> 00:04:37,239 Speaker 2: the Bloomberg Business app.