WEBVTT - Soitec Tumbles, Renault Approached, Beauty Tech Up

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

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

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<v Speaker 3>Well, let's take a look at some of the stocks

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<v Speaker 3>on the move today in Europe. I'm to you Adebayo

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<v Speaker 3>with Stephen Carroll, and we're joined by Bloomberg's che Mene Chloe.

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<v Speaker 3>Swatch seems to have a chip on its shoulder this morning.

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<v Speaker 3>What's driving that, investor angst?

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<v Speaker 1>Yeah, so this is really about this weakness in the

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<v Speaker 1>AI trade after those disappointing earnings from Samsung. So the

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<v Speaker 1>results from Samsung were actually very strong, but as always

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<v Speaker 1>when it comes to this a tech trade, this AI

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<v Speaker 1>trade is really about those very elevated expectations rather than

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<v Speaker 1>the fundamentals, and unfortunately for Samsung, it really failed to

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<v Speaker 1>impress investors despite what some analysts actually called extraordinary figures

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<v Speaker 1>from the company. And this was really always going to

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<v Speaker 1>have an impact on other tech names. So, you know,

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<v Speaker 1>the entire market was looking to Samsung and to those

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<v Speaker 1>results as something that was really going to set the

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<v Speaker 1>tone for the air trade and maybe say something about

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<v Speaker 1>the sustainability of this rally. Going forward, and so the

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<v Speaker 1>weakness that we've seen in the Samsung shares have spilled

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<v Speaker 1>over into Europe today and so Sweatech is one of

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<v Speaker 1>those names being being part of that sell off. But

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<v Speaker 1>other chip names are very much struggling today. AA infrastructure

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<v Speaker 1>names also in the red today. So of course the

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<v Speaker 1>air trade has seen a lot of ups and downs,

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<v Speaker 1>and that is over the last few weeks at least,

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<v Speaker 1>and there's really a big concern around whether there's massive

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<v Speaker 1>investments into AI, those really really high valuations are justified,

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<v Speaker 1>whether they make sense, and today it seems that investors

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<v Speaker 1>are concerned that they might not be en Sweatech is

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<v Speaker 1>being swept up in that.

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<v Speaker 2>Okay, So that's on the tech sector in car making

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<v Speaker 2>nice to be feel popular at least that's something that

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<v Speaker 2>ran now opposed to be experiencing.

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<v Speaker 1>Yes, So when I was up this morning after a

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<v Speaker 1>report from the French newspaper, is equal that the Chinese

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<v Speaker 1>carmaker BYD had approached Renault twice in the last two

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<v Speaker 1>years to purchase a stake in the company. This is

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<v Speaker 1>a partnership that would have meant that Renault would have

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<v Speaker 1>had access to the electric vehicle and battery technologies from

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<v Speaker 1>BYD and then BYD would have had access to the

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<v Speaker 1>manufacturing plants in Europe that owns but actually turned down

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<v Speaker 1>the offer. And this is something that is quite relevant

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<v Speaker 1>now because the CEO actually just said yesterday that he

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<v Speaker 1>was very open to partnerships with other European carmakers, said

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<v Speaker 1>that it would be very logical in terms of scale,

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<v Speaker 1>in terms of technological sovereignty, including you know, things like

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<v Speaker 1>sharing battery standards or sharing data on autonomous driving for example.

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<v Speaker 1>So there might be room for to forge some new

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<v Speaker 1>relationships with new partnerships, but it seems that it will

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<v Speaker 1>be much closer to home than China's BYD.

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<v Speaker 3>Slatest with Renault. And finally, it looks like beauty Tech

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<v Speaker 3>could be getting an Earning's facelift.

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<v Speaker 1>Yes, tell us more. Indeed, so beauty Tech has suggested

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<v Speaker 1>by the name, it does make beauty technology products, so

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<v Speaker 1>that means things like a laser hair removal machines and

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<v Speaker 1>then also those red led light face masks that influences

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<v Speaker 1>love and that make you look like you're in Star Wars.

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<v Speaker 1>So this is the kind of product that is in

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<v Speaker 1>very very high demand and it's something that is really

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<v Speaker 1>boosting the outlook for the company. It raised its revenue

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<v Speaker 1>guidance and its profit guidance for this year and that

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<v Speaker 1>really boosted the shares and as have said, this will

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<v Speaker 1>likely lead to a consensus upgrade, consensus upgrades for the company,

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<v Speaker 1>and overall, it seems that beauty Tech is in very

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<v Speaker 1>good shape. You know, shares are up around twenty four

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<v Speaker 1>percent year to date, So maybe making the kind of

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<v Speaker 1>product that bugs that trend of lower consumer confidence that's

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<v Speaker 1>actually affecting other types of retailers.

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