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: Let's take a look and at some of the stocks
Speaker 3: on the move today in Europe. I'm Jenslcock with Karen Hepker,
Speaker 3: and we're joined as ever by Bloomberg reporter Clomelli Cloyent.
Speaker 3: Let's stop. The Remi Quantro drinks maker still rise in
Speaker 3: this morning following a well received profit beat.
Speaker 2: Yeah.
Speaker 1: Absolutely, so there's some signs that demand is picking up
Speaker 1: for Remi Quantro. So it saw very strong growth in
Speaker 1: the Americas, a region in particular, and that helped to
Speaker 1: offset some of the weakness in Europe and China, which
Speaker 1: are also very important markets for that company. And overall
Speaker 1: it expects these sales to improve throughout the year. And
Speaker 1: so given the recent weakness that we've seen for both
Speaker 1: Remi Quantro and then the broader alcohol sector, the signs
Speaker 1: of potential recovery that's seen us very encouraging, and so
Speaker 1: that's why we're seeing a big boost in the shares
Speaker 1: this morning, very strongly this morning. But there's now other
Speaker 1: challenges to think about this. Of course, weaker consumer spending
Speaker 1: because of the Iran war, especially given that cognac, which
Speaker 1: is what Hemi Quatro makes, is very much a discretionary purchase,
Speaker 1: not really a staple, so that could be that could
Speaker 1: be a problem. And then the broader alcohol sector is
Speaker 1: also contending with this debate of is it a cyclical
Speaker 1: or structural downturn that we are seeing at the moment.
Speaker 1: Are people drinking less right now because budgets are tight,
Speaker 1: or is it because there's a kind of a fundamental,
Speaker 1: irreversible change in alcol consumption that's been driven by things
Speaker 1: like weight loss, drugs, or health concerns. And so that
Speaker 1: question is really going to be key for those companies
Speaker 1: to figure out and to think about as this alcohol
Speaker 1: consumption continues to decline.
Speaker 4: Okay, so that's not remy quatro. Meanwhile, ab efacts it's
Speaker 4: actually rebounding off to an enormous shop yesterday because of
Speaker 4: the reaction to a drug tru But now some analysts
Speaker 4: are weighing in.
Speaker 1: Yeah, so ABIVX was having, as you said, a really
Speaker 1: really bad time earlier, just earlier this week, it had
Speaker 1: this clinical trial data for a very promising drug. It
Speaker 1: showed that the drug was very effective for inflammatory bowel disease,
Speaker 1: but it also had to disclose cancer cases in several patients,
Speaker 1: and so we don't know whether the drug and the
Speaker 1: cancer cases are related at all. But the shares had
Speaker 1: plunged because this is something that was seen as really
Speaker 1: complicating the path towards regulatory approval. But as you just said,
Speaker 1: there's now a big rebound in those shares because stifle
Speaker 1: analysts came out and said that the selloff was overdone.
Speaker 1: They said that the evidence supports the view that the
Speaker 1: cancer cases reflect background incidents in a high risk population
Speaker 1: rather than an effect of the drug, meaning essentially that
Speaker 1: the drug is likely not at fault here. And earlier
Speaker 1: this week we also had auto analysts saying that Abivax
Speaker 1: was still a target for M and A. So there's
Speaker 1: a bit of a reversal incentiment there for the stock
Speaker 1: and we're seeing a big jump there for abivax.
Speaker 3: And finally, Universal Music dipping this morning. Dare I ask
Speaker 3: what has gone wrong with the Mood Music?
Speaker 1: Yeah, so down this morning after Bill Ackman said that
Speaker 1: he's selling his stick in the company. So this comes
Speaker 1: just a few days after Universal rejected a takeover bid
Speaker 1: from Akman's Pershing Square. So the deal that Ackman had
Speaker 1: proposed was it was back at April, and it was
Speaker 1: quite a complex one. It involved, you know, change in
Speaker 1: stock market listing for the company. It involved a bit
Speaker 1: of a complicated merger with a separate entity, and so
Speaker 1: a lot of investors and analysts thought of it as
Speaker 1: maybe too complex to actually implement, and so Universal then
Speaker 1: rejected that offer, saying that it undervalued the company, that
Speaker 1: it was not in the interest of either the shareholders
Speaker 1: or the artists that Universal actually represents artists like Taylor
Speaker 1: Swift or Drake, so very big music artists. But then
Speaker 1: it's going to be really interesting to kind of keep
Speaker 1: an eye on that company because the music industry is
Speaker 1: in a very interesting position. We've had the value of
Speaker 1: song catalogs really increasing over the last few years, but
Speaker 1: at the same time, there's now this threat from AI,
Speaker 1: with a lot of AI tools now available able to
Speaker 1: create music on their own. So it's going to be
Speaker 1: an interesting sector beyond even the m and a of
Speaker 1: it all.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
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