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 00:00:17,079 --> 00:00:18,640 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,640 --> 00:00:21,160 Speaker 3: the move today here in Europe. I'm Caroline Hepka, and 6 00:00:21,280 --> 00:00:25,360 Speaker 3: I'm joined by Bloomberg's Breaking News editor Louise Moon Louis 7 00:00:25,360 --> 00:00:28,840 Speaker 3: caim Oni. Let's start in the gaming world. It looked 8 00:00:28,920 --> 00:00:32,160 Speaker 3: like Ubisoft was on the decline earlier, but it's turned around. 9 00:00:32,240 --> 00:00:34,760 Speaker 1: Why indeed, so this is yeah, as you say, the 10 00:00:34,840 --> 00:00:38,000 Speaker 1: video game publishers, they're behind names like Assassin's Creed and 11 00:00:38,120 --> 00:00:41,400 Speaker 1: a lot of others as well. They delayed their third 12 00:00:41,479 --> 00:00:45,680 Speaker 1: quarter results last week without explanation and released them this morning, 13 00:00:45,720 --> 00:00:47,919 Speaker 1: so a week later than expected, and within that they 14 00:00:47,920 --> 00:00:50,560 Speaker 1: said they've been in breach of a loan agreement. So essentially, 15 00:00:50,680 --> 00:00:54,720 Speaker 1: auditors found that Ubosoft had improperly booked sales from a 16 00:00:54,760 --> 00:00:59,400 Speaker 1: partnership and so postponed recognizing revenue from that partnership. Within results, 17 00:00:59,440 --> 00:01:03,240 Speaker 1: they forced to restate their twenty twenty five financial accounts, 18 00:01:03,280 --> 00:01:05,199 Speaker 1: and those changes put it in breach of the loan agreement. 19 00:01:05,240 --> 00:01:06,920 Speaker 1: As I said, so they say that they will address 20 00:01:07,360 --> 00:01:11,440 Speaker 1: those that issue by early repayment of loans and as 21 00:01:11,480 --> 00:01:13,520 Speaker 1: you say, so, shares initially found on the news obviously 22 00:01:13,560 --> 00:01:16,720 Speaker 1: not great news, but then rebounded. It kind of caps 23 00:01:16,760 --> 00:01:19,240 Speaker 1: a week of speculation. People didn't know what was going 24 00:01:19,240 --> 00:01:22,720 Speaker 1: on and essentially a bit of a relief potentially not 25 00:01:22,720 --> 00:01:25,360 Speaker 1: as bad as expected. So a bit of a change 26 00:01:25,360 --> 00:01:27,560 Speaker 1: in tone in share movements this morning, but. 27 00:01:27,600 --> 00:01:32,160 Speaker 3: Up as it currently stands okay. A Sauce has seen 28 00:01:32,280 --> 00:01:36,440 Speaker 3: losses also today a symptom maybe of wider consumer jitters. 29 00:01:36,440 --> 00:01:38,039 Speaker 3: And we had the retail sales because that. 30 00:01:38,040 --> 00:01:40,800 Speaker 1: Up for the UK, we did and they weren't positive 31 00:01:40,800 --> 00:01:43,520 Speaker 1: for the UK, and that's kind of that's being seen 32 00:01:43,560 --> 00:01:46,120 Speaker 1: across the board also in consumer confidence gauges as well. 33 00:01:46,360 --> 00:01:49,080 Speaker 1: That will be impacting a Sooce to an extent. But 34 00:01:49,080 --> 00:01:51,840 Speaker 1: they also kind of have their own problems that they're 35 00:01:51,840 --> 00:01:54,279 Speaker 1: grappling with. So they had their four year results. Losses 36 00:01:54,280 --> 00:01:56,960 Speaker 1: were larger than expected, so fifteen percent drop in revenue 37 00:01:56,960 --> 00:01:59,120 Speaker 1: for the year. They're in the middle of a turnaround. 38 00:01:59,200 --> 00:02:02,120 Speaker 1: They've they've been making a lot of changes to do 39 00:02:02,200 --> 00:02:05,520 Speaker 1: with management, to do with inventory. They've also launched top 40 00:02:05,520 --> 00:02:07,880 Speaker 1: Shop back on the high street within the past year. 41 00:02:09,360 --> 00:02:11,440 Speaker 1: So they're saying that, you know, the difficult part is 42 00:02:11,480 --> 00:02:14,880 Speaker 1: behind them. Losses as I say, have still continued for 43 00:02:14,880 --> 00:02:19,680 Speaker 1: this for year, but they singled some positivity ahead. Shares slumped. However, 44 00:02:20,080 --> 00:02:22,959 Speaker 1: there was a great note from Bloomberg Intelligence saying that 45 00:02:24,080 --> 00:02:26,120 Speaker 1: you know that they're starting off from a week base. 46 00:02:26,160 --> 00:02:28,240 Speaker 1: It's a week recovery base for twenty twenty six. For 47 00:02:28,240 --> 00:02:30,600 Speaker 1: the next year ahead, they've got fewer active customers and 48 00:02:30,639 --> 00:02:33,280 Speaker 1: they really need to win back shoppers and as you say, 49 00:02:33,320 --> 00:02:35,560 Speaker 1: part of that, part of that will be the wider 50 00:02:35,560 --> 00:02:37,840 Speaker 1: economic factors, but they really need to win backshoppers for 51 00:02:37,919 --> 00:02:39,399 Speaker 1: those sales to recover next year. 52 00:02:39,960 --> 00:02:44,240 Speaker 3: Okay, So that on a source now into the oil 53 00:02:44,280 --> 00:02:47,880 Speaker 3: and gas sector, tallow oil a new record low. What 54 00:02:47,960 --> 00:02:50,320 Speaker 3: have analysts been saying about this company? 55 00:02:50,680 --> 00:02:55,280 Speaker 1: So they raised their debt forecast this morning and saying 56 00:02:55,320 --> 00:02:59,120 Speaker 1: that they're holding talks with creditors over options for the business. 57 00:02:59,160 --> 00:03:01,320 Speaker 1: So Tallo essentially you kind of boomed in the late 58 00:03:01,360 --> 00:03:03,400 Speaker 1: two thousands. They took on a lot of major, major 59 00:03:03,440 --> 00:03:05,920 Speaker 1: discoveries in Africa, but with that they took on a 60 00:03:05,919 --> 00:03:08,720 Speaker 1: lot of debts to develop those they're in struggling in 61 00:03:08,760 --> 00:03:11,760 Speaker 1: recent years sold off some of those African assets. But 62 00:03:11,800 --> 00:03:15,240 Speaker 1: this new detail is that they're progressing with creditors on 63 00:03:15,639 --> 00:03:18,440 Speaker 1: other options. So Alis is saying that it increases the 64 00:03:18,480 --> 00:03:22,120 Speaker 1: likelihood of refinancing. It could result in significant equity dilution. 65 00:03:22,240 --> 00:03:25,799 Speaker 1: So shares plunged a record low and actually briefly halted 66 00:03:25,840 --> 00:03:27,400 Speaker 1: trading this morning on back of that news. 67 00:03:28,240 --> 00:03:30,680 Speaker 3: Okay, interesting Sovontana. 68 00:03:30,000 --> 00:03:35,680 Speaker 2: Or the stock Movers Report from Bloomberg Radio. Check back 69 00:03:35,680 --> 00:03:37,920 Speaker 2: with us throughout the day for the latest roundup of 70 00:03:37,960 --> 00:03:41,240 Speaker 2: companies making news on Wall Street and for the latest 71 00:03:41,280 --> 00:03:45,480 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live. 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