WEBVTT - Trainline Dips, Smith & Nephew Falls, Straumann Drops  

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Now, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Rachel Evans with Stephen Carroll,

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<v Speaker 3>and we're joined by Bloomberg's Breaking News at at Louise Moon.

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<v Speaker 4>Louis, thank you for joining us.

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<v Speaker 3>Let's start with Trainline, which is among a group of

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<v Speaker 3>companies being investigated for so called drip pricing.

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<v Speaker 4>Tell us more. Yeah, so the competition's watchdog.

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<v Speaker 1>This morning's open investigation into train Line, and then also

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<v Speaker 1>Virgin Atlantic and Red Driving School, which I recognize the

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<v Speaker 1>name from seeing their cars driving around.

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<v Speaker 4>As you say, that's over drip pricing.

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<v Speaker 1>So essentially what that is is misleading upfront costs. So

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<v Speaker 1>if you're going on to train Line and booking a train,

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<v Speaker 1>the price you first see not being the overall total costs,

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<v Speaker 1>so there's added extras that come later. So they're under investigation.

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<v Speaker 1>If they're found to have broken the law, then customers

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<v Speaker 1>could get compensation from train Line shares fell seventeen percent

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<v Speaker 1>this morning, so the most in five years on the

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<v Speaker 1>back of this. This kind of comes after So the CMA,

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<v Speaker 1>the competition's watchdog, has been given more enforcement powers last

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<v Speaker 1>year and they're on a bit of a push to

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<v Speaker 1>clamp down on kind of misleading practices. So in June

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<v Speaker 1>they ordered stub pub to pay out nearly one point

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<v Speaker 1>five million pounds in refunds and penalties. Also quite timely

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<v Speaker 1>given Burnham's Andy Burnham Prime Minister's pledge of kind of

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<v Speaker 1>everyday fixes against the cost of living.

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<v Speaker 4>So train Line says it's working.

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<v Speaker 1>Constructively, constructively with the CMA and saying it's you know,

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<v Speaker 1>committed to full compliance. For analysts is saying that this

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<v Speaker 1>news is quite surprising. So the Office of for Rail

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<v Speaker 1>and Road, so another body did a similar review in

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<v Speaker 1>twenty twenty three and they read some changes with train Lines,

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<v Speaker 1>so that's already happened. So ALYS is saying it is surprising.

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<v Speaker 1>And as I say, shares fell seventeen percent.

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<v Speaker 4>Yeah, it's a pretty sharp dropper for that company. Let's

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<v Speaker 4>go to Smith and Nephew.

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<v Speaker 1>Next share is filing after the medical device maker and

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<v Speaker 1>it's it's CFO is resigning. Yes, he's been in the

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<v Speaker 1>position for about two years and he's leaving at the

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<v Speaker 1>end of the month. He's going to take up an

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<v Speaker 1>external position unspecified in America. He had already relocated their

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<v Speaker 1>last September. It's Smith and Nephew's biggest markets. In that sense,

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<v Speaker 1>it made sense. But he's relocated there only take up

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<v Speaker 1>an external position. So they've named an internal interim CFO

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<v Speaker 1>for the moment. But shares dropping almost four percent at

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<v Speaker 1>one point this morning, and Liss is saying that the

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<v Speaker 1>outgoing CFO has been pretty instrumental and improving margins in

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<v Speaker 1>the business. He's a good communicator, he's well regarded, so

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<v Speaker 1>therefore his departure will raise questions about the company's financial outlook.

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<v Speaker 1>They already cut recently cut their for year sales guidance,

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<v Speaker 1>so Alice saying, you know, this is going to raise

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<v Speaker 1>eyebrows among investors. It's another negative and there's uncertainty as

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<v Speaker 1>to whether it can fully turn itself around with him,

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<v Speaker 1>So it depends also on who his success is.

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<v Speaker 3>And another high profile that they're watching this time at Strauman.

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<v Speaker 3>Shares in the Swiss firm have been dropping with the departure.

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<v Speaker 3>Is apparently well.

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<v Speaker 1>Liked CEO Yes, shares down as much as nine percents

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<v Speaker 1>of the most in a year this morning, so CEO

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<v Speaker 1>that is changing from September. He's been in the role

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<v Speaker 1>since twenty twenty, so quite a long stint. As you say,

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<v Speaker 1>he was well liked, and Analyss is saying this was

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<v Speaker 1>quite a surprise, and again in a similar fashion to

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<v Speaker 1>Smith and Nephew were out a bit of uncertainty. They

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<v Speaker 1>also had first half earnings this morning which were quite strong,

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<v Speaker 1>but this news is really overshadowing things and causing those shares.

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<v Speaker 2>To drop in Swiss app the Stock Mover's report from

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