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 of the stocks
Speaker 3: on the move today in Europe. I'm to you Adebayo
Speaker 3: with Stephen Carroll, and we're joined by Bloomberg's che Mene Chloe.
Speaker 3: Swatch seems to have a chip on its shoulder this morning.
Speaker 3: What's driving that, investor angst?
Speaker 1: Yeah, so this is really about this weakness in the
Speaker 1: AI trade after those disappointing earnings from Samsung. So the
Speaker 1: results from Samsung were actually very strong, but as always
Speaker 1: when it comes to this a tech trade, this AI
Speaker 1: trade is really about those very elevated expectations rather than
Speaker 1: the fundamentals, and unfortunately for Samsung, it really failed to
Speaker 1: impress investors despite what some analysts actually called extraordinary figures
Speaker 1: from the company. And this was really always going to
Speaker 1: have an impact on other tech names. So, you know,
Speaker 1: the entire market was looking to Samsung and to those
Speaker 1: results as something that was really going to set the
Speaker 1: tone for the air trade and maybe say something about
Speaker 1: the sustainability of this rally. Going forward, and so the
Speaker 1: weakness that we've seen in the Samsung shares have spilled
Speaker 1: over into Europe today and so Sweatech is one of
Speaker 1: those names being being part of that sell off. But
Speaker 1: other chip names are very much struggling today. AA infrastructure
Speaker 1: names also in the red today. So of course the
Speaker 1: air trade has seen a lot of ups and downs,
Speaker 1: and that is over the last few weeks at least,
Speaker 1: and there's really a big concern around whether there's massive
Speaker 1: investments into AI, those really really high valuations are justified,
Speaker 1: whether they make sense, and today it seems that investors
Speaker 1: are concerned that they might not be en Sweatech is
Speaker 1: being swept up in that.
Speaker 2: Okay, So that's on the tech sector in car making
Speaker 2: nice to be feel popular at least that's something that
Speaker 2: ran now opposed to be experiencing.
Speaker 1: Yes, So when I was up this morning after a
Speaker 1: report from the French newspaper, is equal that the Chinese
Speaker 1: carmaker BYD had approached Renault twice in the last two
Speaker 1: years to purchase a stake in the company. This is
Speaker 1: a partnership that would have meant that Renault would have
Speaker 1: had access to the electric vehicle and battery technologies from
Speaker 1: BYD and then BYD would have had access to the
Speaker 1: manufacturing plants in Europe that owns but actually turned down
Speaker 1: the offer. And this is something that is quite relevant
Speaker 1: now because the CEO actually just said yesterday that he
Speaker 1: was very open to partnerships with other European carmakers, said
Speaker 1: that it would be very logical in terms of scale,
Speaker 1: in terms of technological sovereignty, including you know, things like
Speaker 1: sharing battery standards or sharing data on autonomous driving for example.
Speaker 1: So there might be room for to forge some new
Speaker 1: relationships with new partnerships, but it seems that it will
Speaker 1: be much closer to home than China's BYD.
Speaker 3: Slatest with Renault. And finally, it looks like beauty Tech
Speaker 3: could be getting an Earning's facelift.
Speaker 1: Yes, tell us more. Indeed, so beauty Tech has suggested
Speaker 1: by the name, it does make beauty technology products, so
Speaker 1: that means things like a laser hair removal machines and
Speaker 1: then also those red led light face masks that influences
Speaker 1: love and that make you look like you're in Star Wars.
Speaker 1: So this is the kind of product that is in
Speaker 1: very very high demand and it's something that is really
Speaker 1: boosting the outlook for the company. It raised its revenue
Speaker 1: guidance and its profit guidance for this year and that
Speaker 1: really boosted the shares and as have said, this will
Speaker 1: likely lead to a consensus upgrade, consensus upgrades for the company,
Speaker 1: and overall, it seems that beauty Tech is in very
Speaker 1: good shape. You know, shares are up around twenty four
Speaker 1: percent year to date, So maybe making the kind of
Speaker 1: product that bugs that trend of lower consumer confidence that's
Speaker 1: actually affecting other types of retailers.
Speaker 2: The stock Mover's report from Bloomberg Radio. Check back with
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