Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's not to take a look at some stocks on
Speaker 3: the move today in Europe. I'm Rachel Evans with Stephen
Speaker 3: Carroll and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise,
Speaker 3: thank you join us. Let's start with Craneware, which released
Speaker 3: an update today. What's been the market reaction.
Speaker 1: Yeah, so obviously Ukraineware is AIM listed, so a small
Speaker 1: stock here in London. It's the software firm in London.
Speaker 1: But it's some interesting moves this morning. The stock has
Speaker 1: been plunging. It was down at one point over I
Speaker 1: think thirty thirty one percent. That's the most in seven years.
Speaker 1: This is after an update this morning. Essentially, they're expecting
Speaker 1: performance in twenty twenty six to be below expectations, so
Speaker 1: a couple of metrics there that they noted will now
Speaker 1: be broadly in line with last year with twenty twenty
Speaker 1: five so flat. This is a number of reasons, but
Speaker 1: partly down to deferral of some small but quite significant contracts.
Speaker 1: So they're coming down down the line later and they'll contribute.
Speaker 1: During twenty twenty seven, they kind of tried to, you know,
Speaker 1: offer a bit of reassurance, saying despite that customer attention demand,
Speaker 1: cash generation, they've all remained strong. But as I say,
Speaker 1: that hasn't really helped in terms of shareperss. Movements morning
Speaker 1: down as much as thirty one percent. An analysts are saying,
Speaker 1: you know, this obviously reflects timing headwinds and how much
Speaker 1: of an impact that has on the company.
Speaker 4: We've had an update about a court case as well,
Speaker 4: involving a unit of Recket Bankies are cleared by a
Speaker 4: jury in the United States. This is over a baby
Speaker 4: formula case. What happened and how our investors reacting.
Speaker 1: Indeed, yeah, so this is me Johnson, the unit of Recket.
Speaker 1: So as you say, they're the baby formula maker. They
Speaker 1: were cleared from a claim that re Recket hides risks
Speaker 1: that that formula can sometimes cause oh sorry cause a
Speaker 1: sometimes fatal bow disease, so that they knew and that
Speaker 1: they marketed it anyway. So it's a win for them,
Speaker 1: but shares are wavering. So they were initially up slightly.
Speaker 1: Now last time may look just slightly down into the red. Essentially,
Speaker 1: it's a bit of a drop in the ocean. So
Speaker 1: Reckit and one of its US rivals called Abbot Laboratories,
Speaker 1: they're still facing two thousand lawsuits over the same issue
Speaker 1: across America. So this has been long on running issue
Speaker 1: for Reckit. Blue MG Intelligence Intelligence is actually estimating that
Speaker 1: there could ultimately be as many as ten thousand claims.
Speaker 1: They've won a few, but there's still a lot to
Speaker 1: get through. There's a possibility of future losses again Bluemogon
Speaker 1: Intelligence saying that or estimating they could be forced to
Speaker 1: pay as much as three billion dollars to resolve all
Speaker 1: the lawsuits. So Reckit and Abbot, they obviously they both
Speaker 1: deny that it causes the disease. And as I say,
Speaker 1: they have won a few lawsuits, but this risk is
Speaker 1: really overhanging on the stock. The stock's already down about
Speaker 1: wreck It about fifteen percent so far this year and
Speaker 1: as they say, wavering. So it's a small win, but
Speaker 1: a lot to get through. In relation to their baby
Speaker 1: formula unit.
Speaker 3: Very interesting indeed, And finally we've been seeing gains for MIPS,
Speaker 3: which manufactures and sells sports helmets. What's the story there.
Speaker 1: Yeah, so the Swedish firm. They also related to law.
Speaker 1: They've settled a patent infringement lawsuit. So that was initiated
Speaker 1: by a company called brain Guard, which is a Spanish company.
Speaker 1: So MIPS will have to pay three point twenty five
Speaker 1: million dollars and they did say it will have a
Speaker 1: bit of a negative impact on their third quarter. But
Speaker 1: shares soaring up as much as eighteen percent most of
Speaker 1: nearly two years, and List is saying it removes a
Speaker 1: big overhang. It's very positive with the stock. The assessment
Speaker 1: should support a rerating for the company, and it brings
Speaker 1: back to the limelight the underlying performance over the next
Speaker 1: twelve months that should really shine through and they can
Speaker 1: focus on that and put this behind them, So shares
Speaker 1: rising as a result.
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