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: Now, let's have a look at some of the individual
Speaker 3: stocks on the move today here in you. I'm Caroline
Speaker 3: Hetka and I'm joined by Bloomberg reporter Clomb Malay Cloak.
Speaker 1: Good morning.
Speaker 3: Let's start off with Sanofi. A significant drop there. This
Speaker 3: is around a particular drug that they were testing.
Speaker 1: Is that right? Yeah?
Speaker 4: Absolutely, Soofi could have had a positive morning, given that
Speaker 4: there was a late stage trial for exema drug that
Speaker 4: met all of its goals, and that should have really
Speaker 4: set it up for a big win in this area.
Speaker 1: But it's all in the details with those things.
Speaker 4: And all the patients saw improvement in the skin clearance,
Speaker 4: et cetera, better than those who received placebo. The improvement
Speaker 4: was actually less than another drug that Sonfi has, which
Speaker 4: is called Jupixent and is the current top selling medicine.
Speaker 4: So that's why there was just appointment there, and therefore
Speaker 4: shares were down on the back of that. That's obviously
Speaker 4: quite a big setback for Sophie be given there's also
Speaker 4: another drug they have in the pipeline, which is for
Speaker 4: pulmonary disease, and that had two late stage trials that
Speaker 4: should contrasting results.
Speaker 1: So that's obviously now two drugs.
Speaker 4: With quite an uncertain future and it's not what it
Speaker 4: needs at the moment, of course.
Speaker 3: Yeah, absolutely, Sinofi then the worst performing stock actually on
Speaker 3: the stock six hundred currently down nine percent in early
Speaker 3: London trading. Now to another story, Jet two. The outlook
Speaker 3: from them.
Speaker 4: Yeah, so Jet two shares fell the most in five
Speaker 4: years this morning, more than five years. They also dragged
Speaker 4: down the shares of other budget airlines and that, as
Speaker 4: you say, on the back of a profit warning, so
Speaker 4: it expects profit for this year to come in at
Speaker 4: the lower end of the range, of the consensus range.
Speaker 1: And it's said that it blamed limited visibility.
Speaker 4: So it's said that people book flights more and more
Speaker 4: last minute, which obviously reduces that visibility. And it said
Speaker 4: that the remainder of summer and then much of the
Speaker 4: winter seat capacity was still they're you know, not sold.
Speaker 4: So as a result, it is it is reducing the
Speaker 4: number of seats on Cell this winter, and it said
Speaker 4: that it would keep pricing attractive whatever that means exactly
Speaker 4: for them. On the back of that, the Jeffrey's Analyst
Speaker 4: cut estimates and then they cut the price target as well.
Speaker 4: Immediately after all of that follows quite a quite cautious
Speaker 4: outlook that we had from Ryanair as well last month.
Speaker 4: So overall this sign of some trouble for those low
Speaker 4: cost airlines.
Speaker 3: In particular Chloe, You're a well traveled person.
Speaker 1: Favorite destination to go back to France. That's why I do.
Speaker 2: Come on.
Speaker 1: Leon Airport is quite good. I quite like it.
Speaker 4: That's where they've done some improvements there. They had a
Speaker 4: little a little refurbishment, so I quite like it. Hometown
Speaker 4: hometown airport, I got you see, I got the side
Speaker 4: track on the airlines and airport's very nice.
Speaker 3: Burbery sales. Do you go with a nice handbag? Then
Speaker 3: to Lyon coming back to the UK and in terms
Speaker 3: of that stock.
Speaker 4: Yeah, so Berbery is making it's come back into the
Speaker 4: seat one hundred index. So it got booted out of
Speaker 4: that index last September. That was following a really extended
Speaker 4: shared decline over the last a few years.
Speaker 1: But now it's up again.
Speaker 4: It's recovering and a lot of that has to do
Speaker 4: with the turnaround efforts from the new CEO, Joshua Schulman,
Speaker 4: who joined last year, and Barberie actually lost its spot
Speaker 4: on the index right after he joined, which must have
Speaker 4: been quite the wake up call. But since then there's
Speaker 4: been quite a significant rally in the shares and that's
Speaker 4: because of the new strategy that we've seen from the
Speaker 4: new CEO, and that's centered around really reviving the British
Speaker 4: routs of Burbery, returning to the classics, so the trench
Speaker 4: goat the scarfs that Berbery is known for, and that
Speaker 4: is working. In the latest earnings in particular that we
Speaker 4: had this summer were really proof of this recovery taking hold.
Speaker 4: The cells were really good in the Americas in particular,
Speaker 4: and overall it was one of the most resilient names
Speaker 4: in that sector within a wider kind of downturn for
Speaker 4: that luxury space.
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