WEBVTT - Sanofi Drops, Jet2 Warning, Burberry Rise

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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 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Now, let's have a look at some of the individual

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<v Speaker 3>stocks on the move today here in you. I'm Caroline

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<v Speaker 3>Hetka and I'm joined by Bloomberg reporter Clomb Malay Cloak.

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<v Speaker 1>Good morning.

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<v Speaker 3>Let's start off with Sanofi. A significant drop there. This

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<v Speaker 3>is around a particular drug that they were testing.

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<v Speaker 1>Is that right? Yeah?

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<v Speaker 4>Absolutely, Soofi could have had a positive morning, given that

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<v Speaker 4>there was a late stage trial for exema drug that

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<v Speaker 4>met all of its goals, and that should have really

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<v Speaker 4>set it up for a big win in this area.

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<v Speaker 1>But it's all in the details with those things.

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<v Speaker 4>And all the patients saw improvement in the skin clearance,

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<v Speaker 4>et cetera, better than those who received placebo. The improvement

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<v Speaker 4>was actually less than another drug that Sonfi has, which

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<v Speaker 4>is called Jupixent and is the current top selling medicine.

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<v Speaker 4>So that's why there was just appointment there, and therefore

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<v Speaker 4>shares were down on the back of that. That's obviously

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<v Speaker 4>quite a big setback for Sophie be given there's also

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<v Speaker 4>another drug they have in the pipeline, which is for

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<v Speaker 4>pulmonary disease, and that had two late stage trials that

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<v Speaker 4>should contrasting results.

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<v Speaker 1>So that's obviously now two drugs.

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<v Speaker 4>With quite an uncertain future and it's not what it

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<v Speaker 4>needs at the moment, of course.

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<v Speaker 3>Yeah, absolutely, Sinofi then the worst performing stock actually on

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<v Speaker 3>the stock six hundred currently down nine percent in early

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<v Speaker 3>London trading. Now to another story, Jet two. The outlook

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<v Speaker 3>from them.

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<v Speaker 4>Yeah, so Jet two shares fell the most in five

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<v Speaker 4>years this morning, more than five years. They also dragged

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<v Speaker 4>down the shares of other budget airlines and that, as

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<v Speaker 4>you say, on the back of a profit warning, so

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<v Speaker 4>it expects profit for this year to come in at

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<v Speaker 4>the lower end of the range, of the consensus range.

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<v Speaker 1>And it's said that it blamed limited visibility.

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<v Speaker 4>So it's said that people book flights more and more

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<v Speaker 4>last minute, which obviously reduces that visibility. And it said

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<v Speaker 4>that the remainder of summer and then much of the

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<v Speaker 4>winter seat capacity was still they're you know, not sold.

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<v Speaker 4>So as a result, it is it is reducing the

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<v Speaker 4>number of seats on Cell this winter, and it said

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<v Speaker 4>that it would keep pricing attractive whatever that means exactly

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<v Speaker 4>for them. On the back of that, the Jeffrey's Analyst

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<v Speaker 4>cut estimates and then they cut the price target as well.

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<v Speaker 4>Immediately after all of that follows quite a quite cautious

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<v Speaker 4>outlook that we had from Ryanair as well last month.

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<v Speaker 4>So overall this sign of some trouble for those low

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<v Speaker 4>cost airlines.

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<v Speaker 3>In particular Chloe, You're a well traveled person.

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<v Speaker 1>Favorite destination to go back to France. That's why I do.

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<v Speaker 2>Come on.

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<v Speaker 1>Leon Airport is quite good. I quite like it.

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<v Speaker 4>That's where they've done some improvements there. They had a

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<v Speaker 4>little a little refurbishment, so I quite like it. Hometown

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<v Speaker 4>hometown airport, I got you see, I got the side

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<v Speaker 4>track on the airlines and airport's very nice.

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<v Speaker 3>Burbery sales. Do you go with a nice handbag? Then

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<v Speaker 3>to Lyon coming back to the UK and in terms

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<v Speaker 3>of that stock.

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<v Speaker 4>Yeah, so Berbery is making it's come back into the

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<v Speaker 4>seat one hundred index. So it got booted out of

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<v Speaker 4>that index last September. That was following a really extended

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<v Speaker 4>shared decline over the last a few years.

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<v Speaker 1>But now it's up again.

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<v Speaker 4>It's recovering and a lot of that has to do

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<v Speaker 4>with the turnaround efforts from the new CEO, Joshua Schulman,

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<v Speaker 4>who joined last year, and Barberie actually lost its spot

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<v Speaker 4>on the index right after he joined, which must have

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<v Speaker 4>been quite the wake up call. But since then there's

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<v Speaker 4>been quite a significant rally in the shares and that's

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<v Speaker 4>because of the new strategy that we've seen from the

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<v Speaker 4>new CEO, and that's centered around really reviving the British

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<v Speaker 4>routs of Burbery, returning to the classics, so the trench

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<v Speaker 4>goat the scarfs that Berbery is known for, and that

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<v Speaker 4>is working. In the latest earnings in particular that we

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<v Speaker 4>had this summer were really proof of this recovery taking hold.

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<v Speaker 4>The cells were really good in the Americas in particular,

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<v Speaker 4>and overall it was one of the most resilient names

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<v Speaker 4>in that sector within a wider kind of downturn for

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<v Speaker 4>that luxury space.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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