1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market harnessing the power of Bloomberg data. 4 00:00:17,840 --> 00:00:19,599 Speaker 3: Let's look at some of these stocks on the move 5 00:00:19,640 --> 00:00:23,080 Speaker 3: today here in Europe. I'm Caroline Hepget alongside Tom McKenzie 6 00:00:23,120 --> 00:00:25,400 Speaker 3: and we joined by Bloomberg's Equities of Port to Joe 7 00:00:25,400 --> 00:00:29,880 Speaker 3: Easin Hijo. Bad news for Birbury. Why has it gone 8 00:00:30,080 --> 00:00:32,240 Speaker 3: wrong for them? And they're in the midst of a 9 00:00:32,280 --> 00:00:34,240 Speaker 3: turnaround plans will things get better? 10 00:00:34,760 --> 00:00:37,400 Speaker 1: Yes, So pretty big news from Birbery today saying they're 11 00:00:37,440 --> 00:00:40,680 Speaker 1: going to cut almost a fifth of their workforce as 12 00:00:40,720 --> 00:00:43,880 Speaker 1: their new chief executive tries to do that turn around. 13 00:00:43,880 --> 00:00:47,280 Speaker 1: As you mentioned there, so the company plans an additional 14 00:00:47,400 --> 00:00:50,600 Speaker 1: sixty million pounds worth of savings via these job cuts. 15 00:00:50,600 --> 00:00:54,840 Speaker 1: This is seventeen hundred jobs at risk in terms of 16 00:00:54,880 --> 00:00:57,240 Speaker 1: the cuts. They'd already announced plans to save around forty 17 00:00:57,360 --> 00:01:00,480 Speaker 1: million pounds previously, so really trying to do much cost 18 00:01:00,480 --> 00:01:03,520 Speaker 1: aging as possible. But the company has been hit by 19 00:01:03,600 --> 00:01:07,720 Speaker 1: significant dropping sales, particularly in China, and today their earnings 20 00:01:07,760 --> 00:01:11,240 Speaker 1: report actually showed a fifteen percent drop in the Chinese 21 00:01:11,240 --> 00:01:14,840 Speaker 1: sales in the last quarter, though, that is slightly better 22 00:01:14,880 --> 00:01:18,039 Speaker 1: than some analysts expected, so it's kind of cases bad, 23 00:01:18,120 --> 00:01:20,640 Speaker 1: but perhaps not as bad as some people thought. So 24 00:01:20,680 --> 00:01:23,360 Speaker 1: they stop ash up around eight percent this morning was 25 00:01:23,440 --> 00:01:25,920 Speaker 1: up ten percent, biggest game in the months. The cost 26 00:01:26,080 --> 00:01:27,280 Speaker 1: cutting probably helping there. 27 00:01:27,360 --> 00:01:29,399 Speaker 4: Okay, bad but not as bad as expected, lifting the 28 00:01:29,400 --> 00:01:32,160 Speaker 4: share price at Burbury. We haven't seen that narrative for 29 00:01:32,200 --> 00:01:33,760 Speaker 4: a while, have we. That company has been challenged for 30 00:01:33,760 --> 00:01:35,760 Speaker 4: a number of reasons as you get touched on. Meanwhile, 31 00:01:35,800 --> 00:01:38,399 Speaker 4: it's not full steam ahead, it doesn't seem for train 32 00:01:38,480 --> 00:01:40,920 Speaker 4: Maker out Did you see what we did there Alston 33 00:01:41,080 --> 00:01:43,679 Speaker 4: The biggest losses on an individual stock basis so far 34 00:01:43,720 --> 00:01:46,320 Speaker 4: on the session is coming through for the French train maker. 35 00:01:46,319 --> 00:01:50,560 Speaker 1: Derailed, I'll go with so Alstom derailed, the stuckdown as 36 00:01:50,640 --> 00:01:53,120 Speaker 1: much as seventeen percent day, So not full steam ahead. 37 00:01:53,160 --> 00:01:57,640 Speaker 1: That company is basically suffering from a massive outflow of 38 00:01:57,720 --> 00:02:01,680 Speaker 1: cash and therefore not doing they're dividend now, according to 39 00:02:01,720 --> 00:02:04,440 Speaker 1: traders have been chatting to. The actual numbers looked okay 40 00:02:04,480 --> 00:02:06,320 Speaker 1: in terms of the order backlog and that kind of thing, 41 00:02:06,360 --> 00:02:09,400 Speaker 1: But it seems a story here is that given This 42 00:02:09,480 --> 00:02:12,040 Speaker 1: is a company that's got a massive debt load and 43 00:02:12,280 --> 00:02:14,480 Speaker 1: they've really struggled with the higher interest rates, so that 44 00:02:14,520 --> 00:02:16,160 Speaker 1: does seem to be weighing on them at the moment. 45 00:02:16,360 --> 00:02:19,679 Speaker 1: The actual underline demand for their trains. People will recognize 46 00:02:19,760 --> 00:02:22,000 Speaker 1: Awsome's name because I think they do some of the 47 00:02:22,040 --> 00:02:24,800 Speaker 1: tubes here in London as well. Actually, the backlog in 48 00:02:24,880 --> 00:02:26,600 Speaker 1: terms of the order is not too bad, but really 49 00:02:26,840 --> 00:02:30,120 Speaker 1: seems to be suffering from their payments on their debt. 50 00:02:30,200 --> 00:02:33,440 Speaker 1: Therefore that feeding through into dividend. Therefore the stock down 51 00:02:33,480 --> 00:02:34,680 Speaker 1: fifteen percent today. 52 00:02:35,320 --> 00:02:38,680 Speaker 3: Okay, what about twoy Everyone thinking about their holiday? Remind 53 00:02:38,680 --> 00:02:40,919 Speaker 3: you January is actually the peak months when people book 54 00:02:40,919 --> 00:02:42,640 Speaker 3: their holidays. But the travel agency. 55 00:02:43,240 --> 00:02:45,600 Speaker 1: I just came back from a Tooe holiday in Lanzo 56 00:02:45,720 --> 00:02:49,240 Speaker 1: Rossi actually, so that is very topical. I actually, well 57 00:02:49,280 --> 00:02:51,880 Speaker 1: I actually booked it through too as well. But so 58 00:02:52,000 --> 00:02:54,919 Speaker 1: two the start gets down pretty sharply. With down ten percent. 59 00:02:55,000 --> 00:02:58,520 Speaker 1: Now the company, despite my my time in Lanzarotti, has 60 00:02:58,560 --> 00:03:02,440 Speaker 1: reported a drop down bookings, saying that they're seeing a 61 00:03:02,639 --> 00:03:06,080 Speaker 1: delay in the time in terms of people kind of 62 00:03:06,080 --> 00:03:09,360 Speaker 1: getting more last minute with their bookings and that is 63 00:03:09,400 --> 00:03:13,000 Speaker 1: a negative symptom for them. But Interestingly, we actually saw 64 00:03:13,000 --> 00:03:15,880 Speaker 1: a really positive report from On the Beach recently saying 65 00:03:15,960 --> 00:03:19,519 Speaker 1: their bookings had actually grown, so this potentially showing that too, 66 00:03:19,520 --> 00:03:22,040 Speaker 1: he may be losing a bit of market share potentially 67 00:03:22,360 --> 00:03:25,000 Speaker 1: on pricing. But the stock really hit hard today on 68 00:03:25,080 --> 00:03:28,679 Speaker 1: those negative bookings to he down eleven percent in Germany today. 69 00:03:29,600 --> 00:03:33,720 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 70 00:03:33,800 --> 00:03:36,560 Speaker 2: us throughout the day for the latest roundup of companies 71 00:03:36,600 --> 00:03:39,680 Speaker 2: making news on Wall Street and for the latest market 72 00:03:39,680 --> 00:03:44,080 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 73 00:03:44,120 --> 00:03:47,360 Speaker 2: Bloomberg dot com, and on Applecarplay and Android otto with 74 00:03:47,440 --> 00:03:48,880 Speaker 2: the Bloomberg Business app.